Prairie Capital Advisors recently acted as financial advisor to JBK Manufacturing & Development Co. in the sale of the company to an employee stock ownership plan.
Founded in 1981, JBK Manufacturing & Development Co. is a supplier of precision tubular assemblies, machined parts and fabrications for aerospace, military, and other commercial applications. JBK’s headquarters are in Dayton, OH where it operates out of a 42,000 square foot facility. JBK has in-house machine capabilities which allows the company to perform machining, tube bending, testing, and various other services, thereby providing a one-stop shop experience to its customers.
Prairie worked closely with the management team and sellers, providing advisory expertise and managing the preparatory, due diligence, and negotiation phases of the transaction as well as structuring the financing for the transaction. Terms of the transaction were not disclosed. “We are pleased to have completed a transaction that will allow our team to benefit from the future growth of the company”, says Mike Gearhardt, president of JBK Manufacturing. “While other options were presented, we felt an ESOP was the best option for the future of JBK and its employees. One of our best decisions was to retain Prairie Capital Advisors as our advisor. Their expertise and guidance was essential in getting the transaction closed timely and efficiently. The Prairie team was there to support us every step of the way.”
