Cambrian Granite & Stone II, Inc. transitions ownership to Ownershift.
Deal News | Nov 26, 2024 | Generational Equity
Cambrian Granite & Stone II, Inc., a well-established supplier of natural stone countertops in eastern Iowa, has been acquired by Ownershift, Inc., a company dedicated to employee ownership transitions. The acquisition, which Generational Group facilitated, marks a significant strategic shift for Cambrian's workforce. Originally founded in 1997 and renowned for its quality service, Cambrian was co-owned by Marc and Brent Schweer since their acquisition 15 years ago. The Schweers decided it was time for a transition aimed at employee empowerment, leading them to select Ownershift. This Denver-based firm specializes in employee ownership and financial training programs, ensuring sustainable business success through a new business model where employees partake in ownership benefits. The acquisition closed on October 4, 2024, representing a new chapter for Cambrian and its employees.
Sectors
- Construction Materials
- Mergers and Acquisitions Advisory
- Employee Ownership Transition
Geography
- United States – Cambrian Granite & Stone II, Inc. operates in the Midwest, including Iowa, Wisconsin, and Illinois, while Ownershift, Inc. is headquartered in Denver, Colorado.
Industry
- Construction Materials – This industry involves companies producing and distributing materials used in construction, including stone countertops, which are Cambrian Granite & Stone II, Inc.'s specialty.
- Mergers and Acquisitions Advisory – Generational Group's role as a mergers and acquisitions advisory firm highlights this industry category, facilitating transactions between businesses.
- Employee Ownership Transition – Ownershift, Inc.'s focus on shifting business ownership to employees underlines the employee ownership transition sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cambrian Granite & Stone II, Inc. | Target Company | Company | A company specializing in natural stone countertops serving eastern Iowa, southwest Wisconsin, and northern Illinois. |
| Ownershift, Inc. | Acquirer | Company | Specializes in employee ownership transitions by acquiring businesses and shifting ownership to the employees. |
| Generational Group | M&A Advisor | Company | A mergers and acquisitions advisory firm facilitating deals between privately-held enterprises. |
| Marc Schweer | President | Person | Co-owner of Cambrian Granite & Stone II, Inc., involved in selling the company. |
| Brent Schweer | Owner | Person | Co-owner of Cambrian Granite & Stone II, Inc., involved in selling the company. |
| Michael Goss | Executive Managing Director of M&A - Central Region | Person | Executive in Generational Group leading the M&A transaction. |
| Cory Strickland | Senior Managing Director, M&A | Person | Part of the Generational Group team managing the transaction. |
| Ryan Johnson | Managing Director, M&A | Person | Supported the Generational Group team in executing the transaction. |
| Tom Braun | Executive Managing Director | Person | Instrumental in establishing initial connections for the deal. |
| Michael Querard | Senior M&A Advisor | Person | Assisted in laying the groundwork for the transaction. |