HOME WHO WE ARE PORTFOLIO NEWS COMMUNITY CONTACT US News Watkins Associated Industries Announces Strategic Acquisition of Nova Engineering and Environmental Partnership Will Allow Both Firms to Expand Capabilities August 12, 2019 (Atlanta and Kennesaw, GA) — Watkins Associated Industries (WAI), headquartered in Atlanta, GA, has acquired Kennesaw, GA-based Nova Engineering and Environmental (NOVA). WAI is a large, privately-held company focused on creating long-term value by building and managing world-class businesses. WAI’s previously existing lines of business include real estate, food processing, insurance services, and building materials. NOVA is an industry leader providing environmental consulting, geotechnical engineering, construction materials testing and inspections, plan review and code compliance, municipal/government outsourcing, and roofing/building envelope consulting services. The stable, long-term management team at NOVA led by President & CEO Randall Bagwell, PE, will remain in place post-acquisition. WAI will partner with this successful team to drive future growth opportunities across NOVA’s various service lines. “We take a long-term view as we identify businesses with attractive future growth prospects and a management team with a desire to remain involved,” says Eric Wahlen, President of WAI, of the transaction. “We allow presidents of our businesses to operate independently, while partnering with them in goal setting. We look forward to leveraging our core competencies of strategic business planning, disciplined investment, and operational measurement to help NOVA position itself for a future of expansive growth. Watkins is excited to enter the professional engineering services arena with such a strong, stable, well-known, and respected partner.” “I truly believe that becoming part of the Watkins’ family of businesses will help us reach and likely exceed our long-term goals,” says Randall Bagwell, President & CEO of NOVA. “Our firm has developed successful business relationships and lasting friendships that span decades, and we believe this partnership will help us strengthen and expand these relationships. Watkins’ strategic support and financial resources will enable us to expand the quality work and services we offer to more clients and in more locations.” Closing took place on 8/12/19. Croft & Bender LP, led by Managing Director Steve B. Tye, served as NOVA’s investment banker on the transaction and Taylor English Duma LLP under the direction of partner Al B. Hill provided NOVA’s legal counsel. Moore Colson CPAs and Advisors, with lead partners Christopher S. Arnone, Jason Birmingham, and Jonathan Levens, provided accounting services to WAI as well as earnings and tax due diligence. Benesch, Friedlander, Coplan & Aronoff LLP under partner Michael J. Mozes provided legal counsel to WAI for the transaction. Watkins Associated Industries Announces Strategic Acquisition of Lexington Manufacturing Combination Brings Enhanced Capabilities to Both Entities January 3, 2019 (Atlanta, GA and Minneapolis, MN) — Watkins Associated Industries (WAI), headquartered in Atlanta, GA, has acquired Minneapolis, MN-based Lexington Manufacturing. WAI is a large, privately-held company focused on creating long-term value by building and managing world-class businesses. WAI’s existing lines of business include real estate, food processing, insurance services, and building materials. Lexington Manufacturing, operating out of Minneapolis, MN, is a full-service window, door and structural millwork component parts supplier, providing a wide variety of machining and fabrication services to meet specific customer needs. Both firms are multi-generational, family-owned businesses. The stable, long-term management team at Lexington led by owners Bob and John Dimke and Mike Dillon, president, will remain in place post-acquisition. WAI will partner with this successful team to drive future investment and growth opportunities in Lexington’s core business. “As a multi-generational family-owned business, we understand the issues of ownership transition and know how to acquire family-owned businesses responsibly. We take a long-term view as we identify businesses with attractive future growth prospects and a management team with a desire to remain involved,” says Eric Wahlen, President of WAI, of the transaction. “We allow presidents of our businesses to operate independently, while partnering with them in goal setting. We look forward to leveraging our core competencies of strategic business planning, disciplined investment, and operational measurement to help Lexington Manufacturing reach its goals for the future.” “John and I truly believe that this partnership will ensure that Lexington Manufacturing will not only continue to grow in revenue and market share, but also maintain the family-oriented culture that makes people enjoy coming to work each day,” says Bob Dimke, CEO of Lexington Manufacturing. “The fit between the philosophies of both companies is perfect for what each organization needs going forward.” “I am so happy we have secured the future of the company in a way that will provide advantages not only for the family that founded Lexington but also for its current workforce,” says John Dimke, Vice President at Lexington. “I look forward to working with WAI and reaping the benefits of our combined expertise and business knowledge.” Mike Dillon, Lexington’s president said, “I am thrilled at the possibilities this combination presents. We pride ourselves on the strong, value-added customer relationships that Lexington has built over the past several decades. The synergies between WAI and Lexington will enhance our ability to create solutions and deliver value to our customers who have come to rely on our excellent quality and timely delivery.” Closing took place on 12/31/18. Croft & Bender LP, led by Managing Director Neale Fisher, served as Lexington’s investment banker on the transaction and Stinson Leonard Street LLP under the direction of partner David S. Ezrilov provided Lexington’s legal counsel. Moore Colson CPAs and Advisors, with lead partners Christopher S. Arnone, Josh Thomas and Jonathan Levens, provided accounting services as well as earnings and tax due diligence. Benesch, Friedlander, Coplan & Aronoff LLP under associate Michael J. Mozes provided legal counsel to WAI for the transaction. 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