Bundy Group, an industry-focused investment bank, proudly announces its role as the exclusive advisor in guiding Compass Systems & Sales, Inc. (“Compass” or the “Company”) through a majority equity recapitalization. This transaction underscores Bundy Group's continued commitment to delivering exceptional advisory services and expertise in facilitating successful transactions for privately held companies. Furthermore, the transaction, which closed in December 2023, highlights Bundy Group’s continued specialization and track record in the automation and industrial technology sectors.
Compass was founded in 1998 and offers a broad range of automation and material handling solutions such as engineering services, system audits, construction management, operator training and system maintenance. Headquartered in Barberton, OH, the Company specializes in end-to-end automated material handling systems employing innovative, custom-engineered solutions integrated with traditional conveyance systems. Compass is led by an experienced management team that will remain in place following the transaction’s close.
“Bundy Group was hired because of our industry experience, network of strategic and financial sponsor buyers, and relationship with the owners of Compass. We were happy to assist our client in achieving such a successful outcome” said Clint Bundy, a Managing Director at Bundy Group. “This was our second automated material handling transaction of 2023, and our third automation transaction in 2023, and we couldn’t have been more pleased to work with such a quality group of professionals aligned with the Compass platform. We wish the management team all the best for the future.”
The Bundy Group client engagement team included Clint Bundy, Jordan Frickle, Stewart Carlin, and Megan Hagemann.
The selling shareholders included Alston Capital and Plexus Capital, two financial sponsors that invested in the Company, as well as Compass Systems founder, Bob Sherrod. Main Street partnered with Compass’ existing senior management team, which reinvested in the Company, to facilitate the transaction. Main Street funded the transaction with a combination of first lien, senior secured term debt, and a direct equity investment.
"Bundy Group delivered persistence and professionalism throughout our entire process. Not only did they deliver a successful outcome during a difficult financial market environment, but also in a time when a majority of our customer base was facing a historic UAW strike,” said Bob Egan, Founding Partner at Alston Capital and Shareholder/ Board Member at Compass. “I am more than thankful Bundy Group led the effort to get us over the finish line."
Bob Sherrod, Founder and CEO of Compass, stated, “We sought an investment bank that was capable of representing an organization owned by institutional and founder shareholders, had tenured experience in the automation and industrial technology sectors, and had a proven ability to close a transaction within a tight timeline. We interviewed multiple investment banks before deciding on Bundy Group, and I couldn’t have been more pleased with the outstanding work and results that our advisor delivered. We absolutely made the right decision by hiring Bundy Group.”
About Compass Systems & Sales
Founded in 1998 and headquartered in Barberton, Ohio, Compass Systems & Sales is a leading provider of end-to-end material handling systems employing innovative, custom-engineered solutions integrated with traditional conveyance systems. Compass offers a broad range of material handling solutions, including shredding, sorting, weighing, and conveying, complemented by the company's design, fabrication, installation, service, and support capabilities. Compass has developed unmatched expertise in pneumatic conveyance systems and has entrenched its position as a market leader with complete offerings of pneumatic and mechanical conveyance solutions. For more information, please visit Compass Systems' Website.
About Bundy Group
Established in 1989, Bundy Group is an industry-focused investment bank that specializes in representing business owners and management teams in business sales, acquisitions, and capital raises. The team of highly experienced investment bankers leverages extensive industry knowledge and skill to provide hands-on guidance to clients through every phase of the business transaction. Bundy Group has been a trusted partner in more than 250 closed deals over the past 34 years, providing high quality options, actionable insights, and delivery of optimal strategic fit at a premium value for our clients.
Bundy Group Securities, LLC is a registered broker-dealer and member of FINRA and SIPC. More information on the background of Bundy Group Securities, LLC is available at FINRA’s BrokerCheck.
