SAN ANTIONIO, TEXAS (May 11, 2020) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that IHI Southwest Technologies, Inc. (“ISwT” and/or the “Company”), has been acquired by Industrial Inspection & Analysis, Inc. (“IIA”), a portfolio company of Sunny River Management, LLC (“SRM”) from IHI Corporation (TSE: 7013), a publicly traded Japanese industrial company. Statesman served as the exclusive financial advisor to ISwT throughout the transaction, which closed April 24, 2020.
About the other transaction participants
Statesman Corporate Finance, LLC is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Director Lawrence (Larry) Schumann with support from Analyst Anthony Hernandez.
IHI Corporation (TSE: 7013) (Tokyo, Japan), the former parent company of ISwT, is a Japanese public company headquartered in Tokyo, Japan. IHI is a comprehensive heavy-industry manufacturer working to create value for customers in four main areas – Resource, Energy and Environment; Social Infrastructure and Offshore Facilities; Industrial Systems and General-purpose Machinery; Aerospace, and Defense. IHI has over 29,000 employees in 127 office around the world and over $13 Billion in USD net revenues. Originally founded as Ishikawajima Shipyard in 1853, IHI has since evolved into a leading, comprehensive heavy industry manufacturer that can contribute to social progress by relentlessly pursuing technological excellence and by cultivating advanced engineering capabilities.
Sunny River Management, LLC (Atlanta, GA) is an operationally-focused private investment firm backed by patient, long-term capital. SRM aims to build leading middle-market enterprises within highly desirable industries. The firm typically focuses on companies with $3 – $100 million in revenue and $1 – 20 million in EBITDA.