Leaders Advises Russell Engineering on its sale to Worthington Industries
Leaders LLC represented James Russell Engineering Works, Inc. (Boston, Massachusetts) in the sale of its business to Worthington Industries, Inc. (Columbus, Ohio) effective July 29, 2014.
Russell Engineering was founded in 1874 and had remained in the Russell family until the sale to Worthington. After careful consideration, the 4th and 5th generations of Russell family owners retained Leaders to identify the best new owner for the business. Worthington Industries emerged as that new owner.
Commenting on the role Leaders played in the sale process, Libby Russell, one of the 5th generation owners stated, “Without the guidance of Leaders throughout this process, there is no way that we would have reached such a successful conclusion; not only for the Russell family, but for the legacy of our company and its employees.”
David Hahn, president of Russell Engineering added, “The experience that Leaders brought to the table, both from an industry and transactional perspective were invaluable throughout the process.”
Commenting on the acquisition, Andrew Billman, president of the Worthington Industries pressure cylinders business stated, “Russell Engineering is recognized as making some of the highest quality trailers in North America. Their capabilities nicely complement the Aritas cryogenic business we recently purchased in Europe”
Leaders LLC provides merger and acquisition advisory services to businesses in a variety of industries throughout the United States and globally. Leaders represents private business owners on purchases and sales of businesses, recapitalizations, management and shareholder buyouts, and a variety of other restructuring transactions. For additional information about Leaders LLC or this transaction, contact: Brian Deveaux at 888-583-7770 ext. 3BDeveaux@Leaders-LLC.com or Buzz Campbell at 888-583-7770 ext. 5 JRCampbell@Leaders-LLC.com