FMI Advises Kovach Building Enclosures in Sale to Kovach Enc
RALEIGH, N.C., Jan. 15, 2020 /PRNewswire/ -- FMI Capital Advisors is pleased to announce the sale of Kovach Building Enclosures ("Kovach"). FMI Capital Advisors served as the exclusive financial advisor to Kovach for this transaction.
Kovach is one of the nation's largest integrated designers, manufacturers, and installers of the high-quality panel and glazing systems for commercial buildings in the higher education, healthcare, municipal, commercial, sports arena, and airport markets. With roughly 400 total employees, Kovach projects $80 million of revenue in 2020.
Kovach was acquired by Kovach Enclosure Systems, LLC ("KES"), a newly formed entity owned by Steve Kovach IV and construction industry veteran, Kelly Sands. KES purchased the assets and hired all employees of Kovach. The purchase also includes trademarked Kovabond, one of two ICC fire-rated exterior ACM building materials in the United States.
The newly recapitalized company boasts a strong balance sheet with excess bonding capacity, which will allow the company to take advantage of strong activity in its markets. Combined with the company's impressive manufacturing and engineering capabilities, KES is well positioned for growth moving forward.
Kovach Chief Executive Officer, Troy Garrett noted, "FMI's understanding of our market and its key players allowed them to come in and run a quick, orderly process to find us a partner that will propel Kovach to realize its full potential."
About FMI Capital Advisors:
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm exclusively serving the Built Environment. With more than 700 completed M&A transactions, our industry focus enables us to maximize value for our clients through our deep market knowledge, strong technical expertise and unparalleled network of industry relationships.
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SOURCE FMI Corporation