Quazar Capital Corporation, is pleased to announce that their Client, Nott Company, has acquired BelCorp Die Cutting and Converting.
OUR CLIENT– Nott Company is an employee owned ESOP company headquartered in Arden Hills, Minnesota. The Nott Company supplies fluid power products and systems, industrial power transmission products and systems, and custom rubber fabricated products to Midwest based manufacturing companies.
THE SELLER– BelCorp Die Cutting and Converting is a privately held company based in Burnsville, Minnesota. BelCorp also operates a manufacturing plant in Hoyt Lakes, Minnesota. BelCorp offers complete die cutting and converting services by utilizing the latest technology and equipment. Capabilities include slitting, laminating, die cutting, and assembly.
THE OPPORTUNITY– Quazar Capital Corporation was retained by Nott Company to assist with their goal to grow through acquisitions. Over the past several years, at the request of the Nott Company, Quazar had been in touch with the Shareholders of BelCorp Die Cutting and Converting. Don Belcourt was looking for a good strategic partner to provide marketing support and additional manufacturing opportunities for his company. Nott was looking to acquire a local rubber fabricating company to better utilize their management talents and take advantage of the infrastructure that they had recently invested in.
THE SITUATION– With a retained search mandate, Quazar Capital Corporation worked closely with Nott Company to establish acquisition objectives and identify potential targets in the marketplace. After establishing a list of strong potential candidates, Quazar approached each prospect to determine if there was an interest in selling their company or divesting a division. When the prospect showed an interest, Quazar quickly and confidentially worked with the Seller. Quazar established a value expectation and explored special needs of the selling Shareholders to be addressed if a sale were consummated.
THE RESOLUTION– By working closely with the Nott Company, Quazar Capital Corporation was able to originate negotiations with Nott’s senior management and the Shareholders of BelCorp. The end result was a transaction that met the needs of both the Buyer and the Seller.