McCann’s Engineering & Mfg Co acquired by The Manitowoc Company, Inc.

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McCann’s Engineering & Mfg. Co. has been acquired by The Manitowoc Company, Inc.

Kerlin was engaged by McCann’s Engineering & Mfg. Co. to assist the company in a possible sale to maximize shareholder value. McCann’s is a 55-year old company based in Los Angeles, engaged in the design and manufacture of beverage dispensing equipment used in fast food restaurants, stadiums, cafeterias and convenience stores. Strategic buyers placed a premium value on McCann’s business due to its strong relationship with Coca-Cola as well as the company’s established, low-cost manufacturing operations in Mexico.

Kerlin and McCann’s management considered and developed a number of different alternatives and carefully approached one strategic buyer, Manitowoc, based on the unique fit between the two businesses. Kerlin and McCann’s worked diligently with Manitowoc on a confidential and exclusive basis to create a unified interest and understanding of value, ultimately resulting in a purchase price exceeding expectations. This project was completed without any breach of confidentiality which was important to the success of the effort.