11/17/2022
Citizens Advises North American Kitchen Solutions, Inc. on its Acquisition by Valesco Industries, LLC
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to North American Kitchen Solutions, Inc., a portfolio company of Weinberg Capital Group, on its acquisition by Valesco Industries, LLC.
Founded in 1987 and headquartered in Elyria, OH, NAKS is the leading omnichannel, factory-direct one-stop-shop supplier of customized commercial kitchen hoods, fire suppression systems, fans and other complementary products. During Weinberg Capital’s ownership, the company successfully executed on multiple key initiatives to triple its size and create an HVAC-focused custom commercial kitchen platform. In addition to brick-and-mortar kitchen equipment, the company maintains a market-leading position for food truck ventilation systems. Now a nationally recognized brand, the company’s strong management team and exceptional digital marketing platform further position NAKS for continued growth within the industry.
Chief Executive Officer of North American Kitchen Solutions Sacha Polakoff said: “Alex Teeter and the Citizens M&A Advisory team were terrific partners and advisors. Citizens assisted us in articulating our complex business model, market position, compelling value proposition and growth strategy for premium positioning with potential buyers.”
Managing Partner at Weinberg Capital Chip Weinberg Jr. said: “The Citizens team did a fantastic job managing the NAKS process on behalf of the company and Weinberg Capital. They demonstrated a thorough understanding of the business and the market and drove a high-touch, competitive, accelerated process and achieved a great result for the NAKS team and shareholders.”
Managing Director at Citizens M&A Advisory Alex Teeter said: “We were thrilled to advise NAKS and Weinberg Capital in this milestone event. We believe the company has found an ideal partner in Valesco Industries to support its strong growth and expand its market share.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $224.7 billion in assets as of September 30, 2022. 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 full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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