Heritage Capital Group, Inc., an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide, is pleased to announce that its client, Exact, Inc., has been acquired by Chancey Metal Products, a portfolio company of Indigo South Capital.
Exact was founded in 1964 in Jacksonville, Florida as a manufacturer of precision sheet metal and provides assembly for the electronic and communication industry. The Company offers CNC (computer numerical control) machining and punching, laser cutting, zinc plating, and mechanical assemblies.
Chancey is a Jacksonville-based fabricator and installer of metal stair and railing systems. The acquisition of Exact is its fifth acquisition over the past four years. Prior to its most recent acquisition, Chancey acquired fellow Jacksonville companies CF Machine & Tool, FabTech Supply, and SS Metals and Plastics. Chancey is a portfolio company of Indigo South Capital, a private family office located in Jacksonville, Florida that invests in public and private equities, venture capital opportunities, and real estate.
“For over two decades, Heritage has provided our growing family business with guidance and support,” commented Will Allen, president of Exact. “Their expertise was crucial in crafting an exit strategy that seamlessly transitioned family leadership while securing a great opportunity for our employees and remaining family members within a growing, local company. This sale provided the optimal outcome for our business, family, and employees. Heritage was key in finding the right partner to continue our 60 years of manufacturing experience into the future.”
Heritage served as the exclusive financial advisor to Exact. The deal team included Patrick Emmet, Howard Serkin, and Robert Cilek.
The terms of the transaction were not disclosed. For more information, click here.