Transaction Experience

Bigelow Advises TAG Manufacturing, Inc. on its Recapitalization by Center Rock Capital Partners

TAG Manufacturing, Inc. (TAG) announced it has been recapitalized by Founders, Gary and Terry Wilt, in partnership with Center Rock Capital Partners, LP. TAG is a leading designer and manufacturer of highly engineered attachments for construction and earth-moving applications in North America. Center Rock is a private investment firm committed to building strong industrial businesses through real partnerships. This transaction is the successful culmination of an initiative led by Bigelow LLC.

Founded in 2005 and headquartered in Chattanooga, Tennessee, TAG (www.tagmfg.us) is the second highly-successful company built by brothers Gary and Terry Wilt in the attachments industry. TAG revolutionized the industry by developing and engineering buckets for excavators, and designing couplers that allow for quick, convenient interchangeability of multiple attachments for multiple pieces of equipment. Their rapid manufacturing capabilities, superior customer service, and 40+ years of knowledge in the industry makes TAG an essential player within the construction equipment industry’s supply chain for attachments. TAG is also an industry leader in meeting the needs of emergency personnel responding to damage from natural disasters within the United States. “Center Rock brings a depth of experience to help us grow and expand the company. Equally as important as the opportunity for growth, is the fact that Center Rock shares our focus on genuine partnerships and culture,” said Terry Wilt, COO & Co-Founder of TAG.

“Since founding TAG, my brother Terry and I have supported our employees, our customers, and our suppliers as partners. As we sought to find a growth investor, we wanted that same partnership approach; a group that understood the nuances of our business model, industry, customers, and individual desires. Center Rock brings all these qualities and more.” Gary Wilt, President & Co-Founder TAG Manufacturing, Inc.

Center Rock Capital Partners, (www.centerrockcp.com) is a Midwest-based private equity firm focused on building leading industrial companies in the lower middle market that are improving the customer experience within their industries. Center Rock seeks industrial manufacturing, industrial services, and industrial distribution companies headquartered in North America, often with multi-national operations and locations that serve both domestic and global markets. With substantial expertise working constructively with management teams to drive both operational and strategic improvement, Center Rock’s investment professionals have the flexibility and tools to invest in a broad array of transactions and build value in industrial companies.  “TAG is a superb brand with a reputation for exceptional service, product quality, and leadership – all attributes we look for in our investments. In a short period of time, Gary and Terry have created an incredible and durable business with great momentum that we are excited to build upon,” said David Matthews, Principal at Center Rock.

“TAG has changed how the industry thinks of attachment suppliers. From the beginning, TAG has been dedicated to supporting its customers with speed, flexibility, and unmatched customer service. We are thrilled to partner with Gary, Terry, and the rest of the TAG team to support their future growth plans.” Terry Theodore, Partner Center Rock Capital Partners

Financing for the transaction was provided by Czech Asset Management, L.P. (www.czechamlp.com), with over $4.7 billion of committed capital under management, based in Old Greenwich, Connecticut. Czech Asset Management is a direct lending firm engaged in providing privately negotiated, asset-based and cash-flow, first and second lien floating-rate senior secured loans primarily to U.S. middle market companies.

Originally established in 1935, Bigelow LLC (www.bigelowllc.com) is an independently owned M+A advisory boutique with a singular and passionate focus: Entrepreneur Owner-Managed businesses. Bigelow has a reputation for having a unique understanding of the special requirements of the owner-managed, entrepreneurial operating company in building, and ultimately capturing Enterprise Value.

Chattanooga, Tennessee

has been recapitalized by

Detroit, Michigan

The undersigned initiated this transaction
and acted as M+A advisor to
TAG Manufacturing, Inc.