Industry: Industrials / Manufacturing
Transaction: Majority Sale to Financial Buyer


Since its founding in 1992, MIRATECH has grown to become one of North America's leading providers of exhaust emissions solutions for industrial reciprocating engines to the natural gas, power generation, locomotive, marine, and other industries. Through its unsurpassed industry knowledge, engineering expertise and exclusive strategic partnerships, MIRATECH enables its customers to successfully meet increasingly complex and stringent federal and state emissions regulations.

MIRATECH's shareholders faced the common challenge among businesses at the company's current stage of development – obtain liquidity for retiring shareholders and allow the management team to retain an equity interest and continue growing the company.

GMB Business Advisors was engaged to initially explore a potential transaction with two interested parties, and then to market the business broadly if necessary. After both parties declined the opportunity, GMB Business Advisors recommended the firm obtain a year end audit before proceeding with a broad process. Both strategic and financial buyers were contacted, resulting in numerous preliminary indications of interest and multiple letters of intent. The rigorous process of identifying a number of competing strategic and financial partners led to the formation of Limestone Miratech Partners, LLC by a Boston, Massachusetts-based investor group and members of the existing management team, which acquired the company.

GMB Business Advisors assisted the shareholders in selecting the partner best suited to provide liquidity to the Company's majority shareholders and work with the existing management team to fund current and future growth opportunities.

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