Genesis Capital Advises Americo Manufacturing on Majority Investment by Blue Sage Capital

Genesis Capital Advises Americo Manufacturing on Majority Investment by Blue Sage Capital

Genesis Capital is pleased to announce the completion of a majority investment into Americo Manufacturing Company (“Americo”), a second generation family-owned business, by Blue Sage Capital (“Blue Sage”).  The family will continue to be a significant shareholder in the Company and the existing management team, led by CEO Lenny Shutzberg, will continue to manage and operate the business.

Headquartered in Acworth, GA, with additional facilities in Cartersville, GA and Los Angeles, CA, Americo is a globally recognized, leading manufacturer of floor maintenance pads as well as one of the top manufacturers of commercial and retail floor matting products in the USA. The Company produces a diverse range of high-loft, nonwoven products, which include floor maintenance pads as well as specialty fabrics which are utilized in a variety of industries. Aside from nonwovens, Americo also designs and manufactures a complete line of vinyl-backed, walk-off floor mats for use in industrial, promotional, retail, custom and specialty market applications.

Lenny Shutzberg, CEO of Americo said, “Genesis Capital guided our family through a very complex process and advised on the most important decision for our Company and family. Genesis allowed us to maximize value while finding the ideal partner for future growth.”  Richard Rones, President of Americo said, “The Genesis Capital team worked diligently throughout every stage of the process enabling our family to achieve all of our objectives, resulting in the best possible outcome for our family and employees.”

Americo’s CEO, Lenny Shutzberg, commented, “We are delighted to be partnering with Blue Sage as we continue to grow our business from the solid foundation established nearly 50 years ago. Blue Sage’s expertise of investing in family-owned businesses, along with their vast strategic and financial resources, will provide us the ability to significantly increase the growth trajectory for our company.”  Americo’s products are currently sold in all 50 states and in over 70 countries around the world.

Jim McBride, Co-Founder and Managing Member of Blue Sage, stated, “Americo is the quintessential investment for Blue Sage Capital. We look for partnerships with market- leading, family-owned and managed businesses, which have demonstrated a long- term defensible competitive advantage and established significant barriers of entry in their respective industries. Americo has a proven business model and an extremely capable management team. Highlighted by the receipt of the only Green Seal Certification issued to any floor pad manufacturer in the world, the Company continues to demonstrate innovative leadership in the cleaning industry.  We are excited about our new partnership with Americo and look forward to working with their entire management team.”

Genesis Capital LLC served as investment banking advisor to Americo while Nelson Mullins Riley & Scarborough LLP provided legal counsel and Bennett Thrasher served as Americo’s accountants. Blue Sage was represented in the transaction by Queen Saenz + Schutz PLLC (legal), Lockton Companies (Insurance), BDO USA, LLP (Accounting) and Flieller, Kruger, Skelton & Plyler, PLLC (Tax). Senior financing was provided by Cadence Bank.

About Americo Manufacturing Company

Americo Manufacturing Company, headquartered in Acworth, Georgia is a leading manufacturer of sustainable products such as synthetic and natural fiber floor pads, hand pads, utility pads and floor matting. 100% of the polyester fiber used in pads produced by Americo comes from recycled material from post-industrial and post-consumer waste and the only binders used in their manufacturing process are water-based. Americo’s products are currently sold worldwide as the company enters into their 49th year of operation.

About Blue Sage Capital

Blue Sage Capital has over $200 million in assets under management and invests in profitable, growing, lower middle-market industrial, manufacturing, service and distribution companies with revenue of $20 to $100 million. Of particular interest are opportunities to partner with founders as the first round of institutional capital in a recapitalization transaction and companies that enjoy leadership positions in niche industries.

Company Type: Family-Owned Businesses, Private Companies

Transasction Type: Sellside M&A

Industry: Industrial Manufacturing