Business Acquisition
DENVER (2016) – Class VI Partners (formerly CapitalValue Advisors (“CVA”)) is pleased to announce the acquisition of Duro Electric Company (“Duro” or the “Company”), by MDU Resources Group, Inc. (NYSE: MDU). Class VI Partners served as the exclusive financial advisor to Duro.
“One of the most enjoyable aspects of any transaction is the opportunity to build life-long relationships. It was truly an honor to work with Tim, Amy, and the great team at Duro,” said David Tolson, Managing Director for Class VI Partners. “They had unique requirements when it came to finding the right partner for the Company’s continued success. MDU is indeed that partner and will be an excellent home for the Company and its people going forward.”
The Business Story
Duro (www.duroelectric.com) is a leading full-service electrical contractor that has been serving the Denver metro area since 1979. The Company specializes in all scopes and sizes of commercial construction, including pre-construction, design/build, design/assist, and a variety of other service offerings.
Duro has one of the best-trained and highly skilled workforces in the industry, earning it a spot as one of the top specialty contractors in the rapidly growing Denver market. The Company’s outstanding reputation is a testament to over 30 years of doing business with the utmost level of integrity and ability to deliver the best service in the industry.
Tim Van Stelle, Majority Owner of Duro, noted: “I was pleasantly surprised as we progressed through the highs and lows of the final weeks in particular, to see the Class VI team’s value shine through by stepping in at key moments and handling extremely sensitive and delicate negotiations with professionalism and expertise.”
“We knew we hired the right experts when the process played out exactly how Class VI initially told us it would. It was at this point that I began to fully appreciate the value of this partnership.”
“The value added and quality of buyers that Class VI brought forward was exceptional – far exceeding my expectations.”
The transaction was closed in the first quarter of 2016.
About Class VI Partners
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.
Tim Van Stelle, Majority Owner of Duro, is a client of Class VI Partners and is not being compensated for sharing their opinion and experience with the firm. Any compensation creates a conflict of interest. Comments by Tim Van Stelle may not be representative of any other person’s experience with the firm and are no guarantee of future performance or success.
Additional Disclosures
Investment advisory services offered through Class VI Partners’ affiliate Class VI Family Office, LLC, a Registered Investment Adviser with the U.S Securities and Exchange Commission. Class VI Partners offers investment banking and private securities transactions through its affiliate, Class VI Securities, LLC. Class VI Securities, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA). Class VI Pathfinder, LLC provides general business consulting to privately held businesses. Collectively these entities are referred to herein as “Class VI”.
Testimonials may not be representative of the experience of other customers. Any promotion, either via testimonial or endorsement, is unpaid (in cash or non-cash form) and does not guarantee future performance or success. We believe that all information provided is from credible and reliable sources. This information does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations.