ORLANDO, FL - PCE Investment Bankers, Inc., a leading financial services firm for middle market companies, is pleased to announce that the shareholders of Consolidated Minerals, Inc. (“CMI”) sold to the CMI Employee Stock Ownership Plan (ESOP) Trust.
CMI, is the world’s leading manufacturer of swimming pool plaster, exposed aggregate pool finishes, deck coatings, and building materials for the swimming pool industry. Operating as CL Industries, Aquavations, Universal Aggregate Solutions and Mallard Global Logistics, the Company is known for its superior service and logistical support to customers. The Company’s Hydrazzo line of products is the worldwide leader of polished marble pool coating systems used for high end residential and commercial swimming pool projects. CMI is headquartered in Leesburg, Florida, and employees more than 80 workers.
PCE advised CMI’s shareholders on various liquidity options which ultimately led to the ESOP transaction. PCE guided CMI from initial education through the feasibility study, providing them a road map of their many options. PCE remained at the forefront through the ESOP formation process including structuring and raising debt capital and following through on closing in an efficient manner.
Fred Horton, President and CEO of CMI commented: “The professionals at PCE designed the optimal transaction structure for CMI. They were able to work with our owners to satisfy their needs as well as assist in securing debt for the transaction. Additionally, PCE was able to act as an intermediary coordinating the required professionals involved in the transaction, which ultimately assured an efficient closing process. Frankly, we could not be any more pleased with PCE’s leadership in getting this ESOP put in place.”
David Jasmund of PCE added, “An ESOP was the ideal solution for the selling shareholders, CMI and their employees. In addition to providing liquidity to the shareholders, the ESOP allows CMI to remain in Leesburg, Florida and keep their employee base intact.”
About: CMI, established in 1987, manufactures high-quality, value added products for the swimming pool and related building and construction industries. They provide superior service and logistical support to customers while maintaining an environmentally safe and progressive workplace for their employees and community. www.cmineralsinc.com