Boston Barricade sold
Boston Barricade has been sold to Mosaic Capital Partners, a private equity firm based in Charlotte, North Carolina. With the closing of the transaction, Boston Barricade Holdings, in partnership with Mosaic, is now an employee-owned company. Boxwood Partners acted as the exclusive advisor to Boston Barricade on the transaction. The terms of the deal were not disclosed.
Founded in 1992, Boston Barricade is a leading provider of modular enclosures, in-store installation services, and custom graphics for a variety of customers, including retailers, mall developers, general contractors and airports. The Vero Beach, Florida-based company operates 13 service centers across the United States, allowing it to serve a national customer base.
“Our partnership with Mosaic and the new ESOP structure represents the perfect cultural fit for our organization,” said Bob Putnam, CEO of Boston Barricade. “We are excited to take the company to the next level with direct participation from our tenured and dedicated workforce. I would also like to thank the Boxwood team for their crucial role in helping us identify the right partner and transaction structure for Boston Barricade. Their well-structured process and track record allowed our team to make well-informed decisions throughout the process.”
Boston Barricade has continued to stay ahead of market trends, launching the Boston Installation Group (“BIG”) in 2018. In addition to providing custom enclosures and graphics, the company now has an in-store installation division, allowing it to truly be a one-stop-shop for retailers. The company’s capabilities are perfectly suited to capitalize on the evolving brick-and-mortar industry, as many companies are shifting their focus from geographic expansion toward interior development. Changes in demographics and technological environments have ushered in the era of “retailtainment,” characterized by in-store experience and high lease turnover.
“We are very excited to partner with Bob and his team at Boston Barricade and were extremely impressed with the company’s commitment to its employees from our initial meetings,” said Dabney Smith, lead partner from Mosaic. “We believe the company truly provides value-added service to its customers and has a proven ability to innovate as consumer trends continue to evolve. Most importantly, we are excited to provide the opportunity for the company’s employees to participate in the future success of the business.”
As the exclusive advisor to Boston Barricade on the transaction, the Boxwood team on the sale was led by managing partner J. Patrick Galleher, Brian Alas (director) and Madison Day (senior analyst).
“With our deep understanding of the Boston Barricade business, we understood the value that Mosaic and the new ESOP structure could provide for the management team and the value creation opportunity for its employees,” said Galleher.
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