Water Street Advisors was engaged by a third-generation manufacturer of architectural design products when the three owners decided that they were ready to retire. Founded in 1883 as a carving and gilding company, the World’s Columbian Exposition of 1893 provided a catalyst for the company’s early growth and prosperity. Employing dozens of European artisans who had carved beautiful designs used in architectural ornamentation, the company built a catalogue of thousands of designs used across the country in many architecturally significant buildings and residences during the last century.
Water Street Advisors put together marketing materials for the company and searched for potential buyers. Soon, an interested strategic buyer came forth who appreciated the artisanship and skill of the workforce. Adding the company’s vast array of products and styles to his existing company’s portfolio would expand its reach and give the combined entities a commanding market share. The buyer chose to purchase the company and leave the operations in their current location, which meant that the current employees kept their jobs and the company remained in its building in South Chicago. The sellers were happy with the price received and are staying on for varying amounts of time through the transition period. All in all, a very good outcome for a century-old company that continues to operate and will now continue to produce revenues into its next century.
