02/05/2020
Citizens Capital Markets, Inc. Advises Digney York Associates on its Sale to Elkay Interior Systems
PROVIDENCE, RI – Citizens Capital Markets, Inc. served as the exclusive financial advisor to Digney York Associates on its sale to Elkay Interior Systems, a division of Elkay Manufacturing Company. Digney York was previously owned by Merit Capital Partners and company management.
Digney York is a leading provider of interior renovation services to luxury, upscale and midscale hospitality clients in North America. The company uses a proprietary network of field partners and an innovative, fast-track method of renovating hotels to minimize revenue displacement and guest impact.
Tim MacKenzie, managing director at Merit Capital Partners, said: “Citizens delivered an exceptional outcome for Merit and Digney shareholders. They leveraged their deep facility services experience and designed a tight, hands-on process which ultimately delivered the optimal buyer for the company. We thoroughly enjoyed working with the Citizens team.”
Jason Wallace, managing director at Citizens Capital Markets, added: “Merit and Digney York management have built a unique, industry-leading hospitality renovation platform. We believe the company is well-positioned to expand its market leadership through its partnership with Elkay, and we are excited to follow their continued success.”
Citizens Capital Markets, Inc. provides M&A, capital raising and other financial advisory services to companies across a focused set of industry verticals. Citizens delivers thoughtful advice, keen market insight and superior execution to clients, both nationally and internationally.
For more information, please go to the Citizens Commercial Banking M&A Advisory Services website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $165.7 billion in assets as of December 31, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
