Duramax Marine, LLC is a manufacturer and worldwide distributor of fluid lubricated bearings, heat exchangers, fender protection systems, and rudder and propeller shaft sealing design solutions for the commercial, military, and pleasure marine industries.
The company’s shareholder sought a liquidity event to diversify his personal net worth tied to the business.
Candlewood Partners advised the company and its shareholders through a previous transaction and led the strategic evaluation of possible liquidity alternatives ranging from the sale to an ESOP to the sale to strategic and financial buyers. After evaluating these alternatives, the shareholder of Duramax Marine, LLC chose to sell an equity interest in the company to an entity owned by Duramax Marine Employee Stock Ownership Plan. The transaction closed at a fair market valuation and allowed the exiting shareholder to obtain his stated liquidity objectives.