Generational Equity Advises Seam Seal International in its Sale to Westbridge Capital

By Generational Equity

07/20/2021

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the acquisition of its client, Seam Seal International, L.L.C., by Westbridge Capital. The transaction closed June 30, 2021.

Seam Seal International, L.L.C. (SSI), located in Guntersville, Alabama, designs and outsources the manufacture of a proprietary line of branded (ProtectEase) and private label bedding products. The Company also maintains its legacy seam sealing business through the sale of seam sealing tape and the sale and service of seam sealing machines. SSI was wholly owned by Chris Wright and Chris Resha.

Primary bedding products include fitted mattress covers, mattress pads, zippered mattress protectors, and pillow covers. In 2019, the product/sales mix comprised private label home textiles, own-brand home textiles, and textile trim items. The ProtectEase family of products offers a complete range of bedding protection solutions with the perfect combination of price and effectiveness.

Westbridge Capital (Westbridge) is a private equity firm based in Saskatoon, Saskatchewan, Canada. Westbridge manages several funds and have invested in over a dozen companies in their portfolio. Westbridge is industry agnostic with a diversified portfolio. Westbridge acquires mature operating businesses. They often structure their deals with management as their partners to ensure a long-term alignment of interests. Their unique model allows them to provide liquidity to an underserved market, benefiting both owners and management.

Generational Equity Managing Director Don Ho was the lead dealmaker who successfully closed the transaction. “We are very honored to be able to represent Chris Wright, Chris Resha, and Seam Seal in an M&A capacity and to achieve the sale of their business,” said Ho.

Mr. Ho added, “During this process, we had tremendous buyer interest from some phenomenal PEGs and strategics and we’re very honored to be able to do a transaction with Westbridge Capital. The expertise, resources, capital, and experience Westbridge Capital will bring to Seam Seal will position the business for tremendous growth, which will also allow the Company to better serve its customers and employees.”

Mr. Ho is a seasoned dealmaker who is supported by Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss. Senior Managing Director DeWayne Nelon established the original relationship with SSI.

“We always have and will continue to admire the commitment and dedication shown by Mr. Don Ho, as well as Mr. Michael Goss who also provided background support, during the entire process with our company. They advised on business industry best practices, but also acted as my sounding board on multiple occasions. I have heard that going through the M&A process can be the most stressful time of a business owner’s life. Thanks to Don, this process went by smoothly as he coached us through the whole process,” stated Chris Wright.

Seam Seal will be supplementing their continuing management team—original founding members Chris Wright and Chris Resha—with a new CEO, Ryan Fisher. Originally from Alberta, Canada, Ryan moved to the U.S. to earn an MBA from Columbia University and his CPA designation, and he now resides in California. Ryan has held senior management positions as both President and CFO at various companies in the US. In a former role as CFO of an apparel company, Ryan navigated their expansion into large retail markets and the major department stores throughout the U.S.

“I’m excited to be building on the foundation that Seam Seal has laid and partner with their team to drive sales,” said Ryan Fisher. “We’ll be looking for opportunities to expand into additional major retailers and new sales channels throughout the US. Although Seam Seal is already in international markets, I’d like to push harder into Canada and Europe and focus on growing those areas.”

Chris Wright added: “I’m extremely pleased to be associated with a company such as Westbridge Capital now; they can bring the “big company” backing we’ve been searching for to take us to the next level. This transaction also now gives our customers the comfort knowing that Seam Seal is committed to the future and can enhance the R&D and marketing to move ahead to new heights.”