FourBridges Capital Advisors announced Tuesday that Durable Products, Inc. has been acquired by GreenLiner, LLC. FourBridges structured and negotiated the deal on behalf of Mike Dalton and Durable Products, Inc.
Founded in 1982 by Mike’s father, Richard Dalton, DPI manufactures "long-lasting, custom-engineered rubber and polyurethane components" that are used in a variety of commercial and industrial applications. Based in Crossville, the second-generation company’s focus on quality and customer service helped solidify its position as a leading supplier of custom mats and flooring systems used by heavy truck manufacturers to reduce noise, vibration and harshness in truck cabs, said officials.
DPI’s diverse manufacturing capabilities include compression molding, vacuum molding (autoclave and open-cure), polyurethane reaction injection molding, rubber extrusions, die cutting and raw material processing (preforming, calendering and rubber compound mixing).
“We were looking for a partner that would preserve our company’s legacy,” said Durable Products president, Mike Dalton. “As one of the most significant employers in the Crossville area, it was important to find an investor who not only appreciated the value of the business, but would continue to invest in our people and the company that they helped build.
“While I had been approached by potential buyers over the years, I had no idea how complex and time-consuming it is to properly sell a company. FourBridges performed a broad outreach and brought parties to the table that I could not have done on my own,” said Mr. Dalton, who will stay on at DPI in an operating capacity.
“We were pleased with the number of offers we received and are excited for Mike and his team as they move forward with the folks at GreenLiner,” said Andy Stockett, FourBridges managing director. “GreenLiner is well-positioned to usher DPI into an exciting era of growth and expansion, building upon the solid foundation built by the Dalton family.”
The FourBridges advisory team included Andy Stockett and Andrew Ball. Legal advisors to Durable Products, Inc. were Mark Turner and Morgan Ownbey with Chambliss, Bahner & Stophel, P.C.; personal financial advisor was Tyler Abbott with FirstBank Investment Partners.