FOR IMMEDIATE RELEASE
Charlotte, NC, July 7, 2022 – Titus Alliance is pleased to announce the sale of Johnson Abrasives to Virginia Abrasives, a high-quality abrasives manufacturer owned by private equity firm Brookstone Partners. Titus Alliance served as sell-side advisor to Johnson Abrasives and the deal team comprised of Justin Boyd, Dmitriy Yermakovich, and Agustin Margin.
The Johnson Abrasives Company was founded in 1971 by the late Robert M. Johnson. It was his conviction that all business alliances should emphasize fairness and integrity. He placed a high value on the personal aspects of all his business associations. Robert Johnson was also the founding president of the Coated Abrasives Fabricators Association (CAFA).
His three sons, Court, Scott and Charles Johnson continued in the tradition of their father to operate Johnson Abrasives until late 2021, when it was acquired by Virginia Abrasives, one of only five companies producing sandpaper abrasives in the United States. The companies are focused on customer satisfaction by manufacturing, sourcing and converting high-quality coated abrasive products from manufacturers around the world.
“It was an honor to represent the Johnson family and further a relationship with Brookstone Partners. Entrusted with Johnson Abrasives’ reputable 50-year legacy in the abrasives industry, we were pleased to pinpoint a group that brings industry expertise and that will provide a great future for an impressive multigenerational business,” said Boyd. “At Titus Alliance, we take tremendous pride in creating successful outcomes that will preserve the legacy of our clients. Our experience with hundreds of corporate transactions allows us to navigate business owners through complex deal structures and constructively work with sophisticated buyers.”
ABOUT TITUS ALLIANCE
Titus Alliance is a full-service M&A advisory and business valuation firm that serves as trusted, financial advisors and valuation experts to companies for mergers & acquisitions, management buyouts, business appraisals, and financial reporting requirements. Titus has a proven track record of delivering holistic solutions that empower clients to make smart, strategic, and meaningful decisions about their businesses. For more information, please visit www.titusalliance.com.
ABOUT VIRGINIA ABRASIVES
Virginia Abrasives, located in Petersburg, VA, manufactures and distributes construction abrasives production to the equipment rental, professional flooring, and industrial markets. The Company’s product offerings include sandpaper, diamond, and bonded abrasive cutting wheels, nonwoven abrasives for floor maintenance, flooring-related construction equipment, and related products. VAC is one of just a handful of U.S.-based coated abrasive manufacturers, enabling it to sell jumbo rolls to converters and produce its own work-in-process jumbo for conversion into sandpaper finished goods, including sheets, discs, belts, and rolls. Visit https://www.virginiaabrasives.com/ for more information.
ABOUT BROOKSTONE PARTNERS
Founded in 2003, the New York-based firm prides itself on “Building Businesses, Investing in People.” The firm creates investment situations where its goals as the investor are directly aligned with those of management. As soon as Brookstone commits its capital to a company, its Principals begin working aggressively with management to build the company. This approach, which Brookstone calls “Goal Congruency”, is one of the key factors behind the firm’s success. Visit http://brookstonepartners.com/ for more information.
Cami Allen | Titus Alliance | 980-215-8513 | firstname.lastname@example.org