Thomas O. Ix

A cross-practice team of Stradley Ronon lawyers represented Mini Melts USA, a producer and distributor of novelty ice cream products headquartered in the Philadelphia area, in the acquisition of a controlling interest by Altamont Capital Partners. Altamont Capital is a Palo Alto, California-based private investment firm with more than $4 billion in assets under management.

Altamont Capital partnered with Mini Melts to provide growth capital and support an expansion of its distribution footprint and manufacturing capabilities. Mini Melts’ CEO and founder will remain in his role and as a major investor alongside Altamont Capital and the company’s existing shareholders.

For more information on the deal, read this Wall Street Journal article. (Subscription required.)

Stradley Ronon client, NewSpring Capital, a private equity firm that partners with high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities, provided mezzanine debt financing and an equity co-investment in connection with the acquisition of Vac2Go, LLC, a leader in the growing vacuum truck industry. The acquisition will allow Vac2Go to grow its business and continue the expansion of its products and services.

Stradley Ronon represented Bristol, PA-based United Packaging, a leading distributor of high-quality packaging, shipping, safety and janitorial supplies in its acquisition by Envoy Solutions.  Envoy Solutions is a specialized distributor and solution provider serving the U.S. market through regional distributors of packaging, facility care and foodservice supplies.  The acquisition allows United Packaging access to new world-class products and services while being part of a growing national platform. 

Stradley Ronon represented Hughes Enterprises, a leading packaging distribution company providing world-class packaging supplies and equipment, in its sale to Envoy Solutions, a diversified distribution company. Hughes Enterprises provides customized packaging solutions for a wide range of industries, including automotive parts, beverages, manufacturing and pharmaceuticals. The acquisition will allow Hughes Enterprises to increase its packaging capabilities by utilizing the strength of a national partner.

Stradley Ronon represented the ownership group of McClure Company, one of Pennsylvania’s largest mechanical contracting and energy services firms, headquartered in Harrisburg, in connection with the sale of a majority interest in McClure to Sojitz Corporation of America (SCA), which invests in global infrastructure, energy and sustainable businesses. Incorporated in 1953, McClure Company has a long history of delivering fully integrated mechanical construction, engineering, maintenance and energy-efficient services and solutions to its customers.

Stradley Ronon represented Penn Jersey Paper Co. (PJP), a specialized distribution company based in Philadelphia, Pennsylvania, which distributes cleaning products, foodservice disposables and janitorial supplies in its sale to Envoy Solutions, a diversified distribution company. The acquisition is part of Envoy Solutions' approach to building a national platform offering facility supplies, foodservice disposables, packaging solutions and specialty marketing solutions. The transaction closed in early November 2021.

Stradley Ronon served as counsel in the structured sale of Agilis Med Holdings, LLC, the parent company of Agile Medical, one of the largest e-commerce retailers of sleep apnea and respiratory equipment in the U.S., to AdaptHealth LLC (NasaqCM: AHCO), a full-service home medical equipment company.

Stradley Ronon represented Anna Holdings LLC, the owner of a dispensary permittee operating under the name Keystone Shops, in the sale of three Philadelphia-area medical cannabis dispensaries to Trulieve Cannabis Corp. The transaction resulted in a $60 million deal and will expand Trulieve’s presence in Pennsylvania.

Stradley Ronon represented Centurion Group in its sale to Marsh & McLennan Agency LLC. Established in 2006, Centurion provides institutional retirement plan consulting and fiduciary services to clients with combined plan assets in excess of $16 billion and over 400,000 participants. Upon closing, Centurion will become part of Trion Group, a division of Marsh & McLennan Agency.

Stradley Ronon represented Pine Hill Group, a leading accounting and transaction advisory firm, in its sale to CFGI, a national provider of high-end technical accounting and finance advisory services.

Founded in 2007, Pine Hill Group provides public, private and private equity clients with integrated capital markets, technical accounting and financial reporting advice during every stage of the business lifecycle.

CFGI is a portfolio company of The Carlyle Group (NASDAQ: CG).

Stradley Ronon represented PennEngineering, a global leader in the development and manufacturing of precision fasteners, components, and installation systems for thin sheet attachment solutions, structural automotive fasteners and cable management systems, in its acquisition of Whitesell Formed Components and Whitesell Canada, two North American suppliers of engineered fasteners and complex production components.

Stradley Ronon represented Steen Outdoor Advertising, the largest independent provider of outdoor advertising in the Philadelphia region, in its sale to Louisiana-based Lamar Advertising Co., a leading owner and operator of outdoor advertising and logo sign displays, in an all-cash deal. Launched in 1932, Steen grew to become one of the largest outdoor advertising companies in the region with a portfolio of 460 traditional billboards, including 23 digital billboards.

Stradley Ronon’s corporate team assisted a group of former Valley Green Bank executives, led by former CEO Jay Goldstein, in the formation of Spring Garden Lending Group. The company specializes in short-term loans to help acquire, rehabilitate, construct and refinance investment real estate properties in Greater Philadelphia.

Stradley Ronon represented MFP Strategies in its acquisition by CAPTRUST Financial Advisors, one of the nation's leading independent and retirement-plan advisory firms. The transaction allows MFP Strategies to both broaden and strengthen its menu of services while helping to accelerate its growth.

Based in Bethlehem, Pennsylvania, MFP Strategies has deep experience in wealth management and capital preservation strategies for private clients, investment advisory services for institutions, and investment and retirement plan advisory services for institutional plan sponsors.