Willow Grove, PA - Alliance Holdings, Inc. is pleased to announce the sale of its portfolio company, The Sharon Companies, Ltd., to Worthington Integrated Building Systems (“IBS”) LLC, a subsidiary of Worthington Industries, Inc. As a result of this transaction, Sharon now operates within the Worthington organization and Alliance was able to realize a significant return on its initial investment for its employee owners.
This divestiture is consistent with Alliance’s mission to create a diversified ESOP company and maximize the value in its participants’ ESOP retirement accounts. With this move, Alliance improves its liquidity position enabling the continuation of prudently and aggressively pursuing its acquisition and diversification strategy.
“Sharon’s involvement with Alliance has been a very positive experience for the company,” said Sharon President Charles J. Rowe, Jr. “Alliance brought an institutional approach to the management of Sharon which promoted a discipline that will be beneficial to Sharon operating as a division of Worthington-IBS. We’re taking two strong brands and bringing them together to maximize our efforts and offer better building solutions for all of our customers,” said Rowe.
Ken Wanko, Director of Acquisitions for Alliance Holdings, added “We are pleased that Sharon will continue its success under the Worthington banner. Through the marketing process run by our financial advisors, Matrix Capital Markets, we were able to identify the most appropriate partner for Sharon and to maximize the return for our employee shareholders.”
About Alliance Holdings
Alliance Holdings is a 100% employee-owned holding company (through an ESOP) that invests in market-leading manufacturers of industrial, commercial and construction products. Founded in 1994, Alliance has grown to become one of the largest ESOP companies in the country. Alliance’s mission is to create an enduring, diversified ESOP-owned company that maximizes the value of our employee-owners retirement accounts.
About The Sharon Companies, Ltd.
The Sharon Companies, Ltd. specializes in precisely designed, engineered and manufactured architectural metal products. Sharon’s principal products are steel stair and railing systems used in commercial, high rise residential and industrial construction projects. Sharon's Drop-In’ Stair system is a pre-engineered, universally recognized solution to conventional site-built stairways. The system can be customized with tread types, stair designs and railing systems.
For more information, contact:
Ken Wanko
Director, Acquisitions & Operations
Alliance Holdings, Inc.
711 York Road, 2nd Floor
Willow Grove, PA 19090
(T) 215.706.0873 ext. 126
(F) 215.706.0877
wanko@allianceholdings.com |
