Generational Equity Advises Kimelmac in its Sale to Pearlman Group

By Generational Equity

11/10/2021

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Kimelmac, Inc. (dba Excel Cleaning and Restoration Supplies), to Pearlman Group, a portfolio company of The Stephens Group, LLC. The acquisition closed September 1, 2021.

Founded in 1988 and headquartered in Fort Myers, Florida, Excel Cleaning and Restoration Supplies (Excel) is Florida’s largest supplier to the professional carpet cleaning and disaster restoration industries. Excel represents the industry’s leading brands, offering chemicals and equipment to support not only professional cleaning companies and disaster restoration contractors, but also pressure washing and janitorial professionals with a variety of products and services.

Excel prides itself on customer service, product knowledge, and maintaining a culture where customers are treated like family. The company also provides fully stocked parts and service departments for all makes of cleaning and restoration equipment repairs. Excel Supplies is a proud member of New Source Network and ships nationwide.

Matt and Julia Nelson, owners of Excel, along with the current management team and employees will continue to operate the company in partnership with the Pearlman team.

Headquartered in Norcross, Georgia, Pearlman Group (Pearlman), through its primary brands, GranQuartz and Pearl Abrasive, is a multi-channel developer and distributor of supplies, tools and equipment used in the fabrication and maintenance of hard surfaces for residential, commercial, and industrial end-markets.

Pearlman’s GranQuartz division is the market-leading distributor serving over 8,000 stone fabricators, tile installers, and concrete and monument professionals. Pearl Abrasive is a leading developer and provider of high-quality, branded abrasives and cutting tools to over 5,000 distributor customers in construction and industrial end markets. The Company’s products include an extensive offering of proprietary, exclusive, and national branded products with over 18,000 SKUs across multiple price points and applications.

The Stephens Group, located in Little Rock, Arkansas, is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital.

With nearly $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in 49 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, B2B food, technology infrastructure and tech-enabled services.

“Excel is focused on delivering value to our customers, suppliers, and team members alike and we wanted a partner who shared this same commitment while maintaining the culture that makes Excel unique. We found this in Pearlman and The Stephens Group, and the team and I are excited about the growth opportunities for the combined business going forward. I am happy that we found a partner that can not only help take us to the next level but can do so while continuing to treat our customers with the level of support and service they are used to and deserve,” said Matt Nelson.

“We have been seeking to expand Pearlman into adjacent end markets and identified the restoration and professional cleaning markets as a top priority,” said Pearlman CEO Scott McLendon. “We were immediately impressed with Matt and his team of seasoned industry professionals and are excited to expand our capabilities into these markets in partnership with the Excel team.”

Grant Jones, a Managing Director at The Stephens Group added, “Restoration and professional cleaning is a natural adjacency to Pearlman’s core markets, and we are excited to support the Pearlman team as they expand their product offering in these markets, continuing to build an industry-leading specialty distribution platform.”

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team, led by Senior Managing Director of Mergers and Acquisition, Terry Mackin, with the support of Vice President, Mergers & Acquisitions, Tristan Keeffe, successfully closed the deal. Senior Managing Director Thomas Hamm established the initial relationship with Excel.

“Our clients were looking for something different than just selling to a national competitor; Pearlman Group being in other areas of the chemical supply industry provided that diversification,” said Mackin.