Alderman Enterprises “on the hunt” for new acquisitions after new capital raise
Chattanooga-based Alderman Enterprises, a company we have featured in several teknovation.biz posts, has acquired additional capital and is on the lookout for new acquisitions that meet these criteria:
- Revenue of $3 to $30 million and EBITDA (earnings before interest, taxes, depreciation, and amortization) of $1 to 5 million;
- Owner(s) committed to selling at least a majority position;
- Located within two hours of Chattanooga;
- Niche offering with commensurate margins; and
- A preference for those in manufacturing, distribution, industrial and business services.
“We are especially seeking add-on companies that align with our current portfolio,” Alderman stated in an email. Since our most recent article that published in January 2021, the company has added Micro Metals Inc., a world-class powder metal parts manufacturer located in Jamestown, TN, and Combustion & Control Solutions Inc. in Chattanooga, a provider of industry-leading steam and hot water solutions to customers throughout the Southeast. They join Alderman’s other portfolio companies – Dalrymple Rigging and Transport Inc., A1 Hevi-Lift Rentals, Southeastern Tool & Design Inc., and Edwin Bohr/Electronics
