NEMA Enclosures Has Been Recapitalized by Thesis Capital
04.09.2024
HOUSTON, TEXAS (September 4, 2024) – Statesman Business Advisors, LLC (“Statesman”) is pleased to announce the recapitalization of Nema Enclosures of Texas, LLC (“NEMA Enclosures” and/or the “Company”) by Thesis Capital Partners, LLC (“Thesis Capital”) in collaboration with Farragut Capital Partners, a manager of SBA-licensed SBIC funds. Statesman served as the exclusive financial advisor to NEMA Enclosures on this transaction, which closed on August 20, 2024.
Founded in 1987, NEMA Enclosures manufactures made-to-order electrical enclosures in a variety of metal materials and finishes. Headquartered in Houston, Texas, the company serves customers throughout the United States in multiple end markets, such as manufacturing, oil and gas, petrochemical, power generation, transmission, telecom, transportation, and water and wastewater treatment.
Upon completing the transaction, Thesis Capital Operating Partner, Luke Davis, a former US Army officer and previous business commercial leader at ExxonMobil, joined NEMA Enclosures as Chief Executive Officer. Rob Bohn, the Company’s President will continue to serve the company as a senior advisor and sit on the Board of Directors, while Jonathan Bohn will continue in his leadership role as Engineering Manager. Rob and Jonathan will each continue to hold significant equity interests in the business.
“Nema has many exciting growth opportunities on the horizon and Jonathan and I are excited to partner with Thesis and Luke to realize these opportunities,” said Rob Bohn, past President of NEMA Enclosures. “Thesis had done their homework on our industry and exhibited a strong desire to invest and grow our business to better serve all our constituents – customers, suppliers, employees, and equity holders. We believe they will be a great fit with our organization and culture. And, on behalf of Jonathan and myself, I also want to express our sincere appreciation to the Statesman team for their steady guidance throughout the process. Their professionalism and dedication were difference makers in getting us to the finish line. We are very pleased with the outcome and delighted with our decision to engage Statesman.”
About the other transaction participants
Statesman Business Advisors, LLC (Houston & Austin, TX) is a premier regional financial advisory firm serving middle-market businesses. Statesman specializes in merger and acquisition advisory services (both sell side and buy side), management buyouts/recapitalizations, business financing and capital sourcing, and accredited business valuations. Additionally, Statesman provides due diligence services and government guaranteed loan packaging for financial institutions. Securities transactions are completed through Statesman’s affiliate, Statesman Corporate Finance, LLC, a FINRA registered broker-dealer. The Statesman team advising on this engagement included Will Jaco, Managing Member, Director Jessica Seff, Vice Presidents Sarah Dibbern and Philip Rodriguez, and Senior Associate Sam Cancienne.
Thesis Capital (Houston, TX) invests in family-owned companies in the United States where owners earn between $3 million to $25 million per year. They partner with exceptional entrepreneurs to grow these businesses for the next generation in a hands-on way.
Farragut Capital Partners (Chevy Chase, MD) was formed in 2011 as the continuation of a long and successful tradition of investing mezzanine and private equity capital in leading small and mid-sized U.S. businesses. The firm is licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC) and is currently investing out of its third SBIC fund.
J. Wolf & Company (Bethesda, MD) led by Josh Wolf, served as buyside advisor to Thesis Capital and provided financial modeling and structuring, marketing materials drafting, equity and debt capital arranging, and broad support throughout the diligence, legal documentation, and closing processes.
Walker Eisenbraun LLC (Houston, TX) provided legal counsel to NEMA Enclosures led by Partner Clare Reilly and Associate Carmen Guidry.
Shulman Rogers, P.A. (Potomac, MD), led by Partner R. Timothy Bryan, and Thomas W. Bark LLC (Wilton Manors, FL) provided legal counsel to Thesis Capital.
