IAG is happy to announce the sale of our client MD Stainless Services, Inc in Downey California
Creo Tech Industrial Group is based in British Columbia. They are a multi-industry, multi-engineering discipline, procurement and construction solutions provider with global reach. They currently own 3 companies and have worked all over the world. MD Stainless is their first US Acquisition and it is a perfect compliment to the other businesses that they own. There are many synergies between all of the companies which ownership believes will contribute to substantial growth in 2022 and going forward.
MD Stainless provides engineering, design and installation of stainless steel tanks for the pharmaceutical and food industries for major clients like Coca Cola, Braun and many others. Marvin Davis, owner of MD Stainless was very excited about the new ownership and thought that Creo Tech was the perfect company to acquire them. The asking price was $8,500,000 and the offer was for $8,250,000 which Marvin thought was a great offer.
There were some delays to the closing due to Covid and the fact that the buyer was a Canadian Company without US representation, but all obstacles were overcome and a smooth closing was facilitated.
“We are so happy we get to retire, thanks IAG!”
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