Leaders advises Hussey Seating Company on its acquisition of the assets of Clarin Seating
Hussey Seating Company, a sixth generation family owned business located in North Berwick, Maine, followed up on its 2010 acquisition of Stanley Trading LLC, with the acquisition of the assets of Clarin Seating of Lake Bluff, Illinois.
When Leaders LLC was retained by Hussey in early 2010 to advise management on the company’s efforts to grow through acquisitions, the “ideal” acquisition target was described as follows: A company with a solid reputation for selling complimentary, high-quality products into similar markets, which would allow Hussey to leverage both the Hussey name and its world class distribution network. Furthermore, to the extent that the manufacturing of such products could be integrated into Hussey’s existing facilities in North Berwick, Maine, it would be that much more ideal.
Clarin Seating meets all of these criteria. After initiating discussions with Clarin, Leaders advised Hussey throughout the valuation, negotiation, due diligence and documentation stages of the acquisition. Commenting on the role Leaders played in the transaction, Hussey CEO, Tim Hussey, added, “When both the buyer and the seller recognize your [Leaders'] value, that’s a good thing! I have really enjoyed working with you on this deal, and appreciated your diligence, professionalism, and creativity on getting this deal done. I believe this to be a major hallmark in the long history of our Company, and you will remain in my mind one of the major factors in making this happen.”
Founded in 1835, Hussey Seating Company boasts one of America's longest histories of uninterrupted family ownership. Hussey is the global leader in spectator seating solutions for schools and universities, auditoriums, arenas, sports stadiums, performing arts centers and places of worship.