Merrill Technologies Group Acquired by Arlington Capital Partners

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Jan 29, 2024, 15:30 ET

GRAND RAPIDS, Mich., Jan. 29, 2024 /PRNewswire/ -- Charter Capital Partners, a Grand Rapids, Michigan-based investment bank, announced that its client, Merrill Technologies Group, has been acquired by Arlington Capital Partners, a Washington, D.C.-area private equity firm. The transaction was led by Charter team members Mike Brown, Partner and Managing Director, Zach Wiersma, Vice President, AJ Ebels, Vice President, and Keegan Ensing, Analyst.

Merrill Technologies Group, a leading manufacturer of large metal parts and structures, providing design, engineering, machining, fabrication, and integration solutions for defense, aerospace and industrial markets, was founded in 1968 by Gary and Mary Kay Yackel and was most recently owned and operated by Bob and Jeff Yackel.

"I'm extremely proud of this outcome and very happy for both the owners and the management team. They have partnered with an outstanding sponsor," said Brown. "Charter has been an advisor to Merrill for more than 10 years, so we were able to witness firsthand the evolution of the Company into a truly world-class defense manufacturer. Bob, Jeff, and Mike should be very proud of all of their hard work, and I'm excited to watch the business through its next phase of growth."

"The Merrill team has built a fully-differentiated business through design, machining, fabrication, and integration of large, fabricated metal structures and is a leader in the defense industry," added Wiersma. "The strategic vision and sound thesis for continued investment in the defense industrial base, as shared by both Merrill and Arlington, became apparent during the first meeting between the principles of both firms. We're thankful to the Yackels and the entire Merrill team for trusting us on this important transaction."

In conjunction with the acquisition, Arlington announced the formation of Keel Holdings, a new platform established to be a premier supplier of fabricated structures for the highest priority programs within the Navy, Army, and Air Force. The Company was formed through the combination of existing Arlington portfolio company Pegasus Steel and the newly completed acquisitions of Metal Trades, Inc. and Merrill Technologies Group.

Brian Carter, CEO of Keel, said "Keel will play a pivotal role in delivering significant capability growth to the defense industrial base in the U.S. The Company's efficient and effective approach positions us to increase the speed of delivery for the country's highest priority programs. I look forward to working alongside the talented teams from Pegasus, Metal Trades and Merrill, whose hard work and expertise have laid the foundation for Keel's emergence as a formidable force in the defense industry."

SOURCE Charter Capital Partners