Shields & Company is pleased to announce it advised The Dodge Company, Inc. (“Dodge”) on its sale to Matthews Memorialization, a division of Matthews International Corporation (“Matthews”). Founded in 1893, Dodge is a leading supplier of embalming chemicals and supplies in North America and sells a variety of other related products to funeral homes. Matthews Memorialization is a leading supplier to Funeral Homes and Cemeteries in North America, selling a broad range of products including caskets, bronze and granite memorials, and cremation equipment. The acquisition advances Matthews’ strategy of providing a comprehensive product offering to its death care industry customers.
“The thought of selling our 132-year-old family business was very difficult, but the time had come,” said Debbie and Kristie Dodge. “We wanted to make sure we found the right new owner that would take care of Dodge’s employees and customers. Shields & Co. helped us accomplish all of our transaction goals. Selling a business is a complex, complicated process and the Shields team made sure we were prepared, got us in front of the right potential partners, and managed the entire process so things went as smoothly as possible. We can’t imagine trying to do this without Chris, Kevin, and the Shields team.”
“It was a pleasure working with Debbie, Kristie and the entire Dodge team,” said Chris Nicholas, Managing Partner at Shields & Co. “The Company’s shareholders had a multitude of financial and non-financial transaction goals they hoped to achieve, so we designed a process to create numerous alternatives for consideration. Our experience working with chemicals and specialty distribution businesses allowed us to generate proposals from many interested parties but, in the end, Matthews distinguished itself as the right buyer for the business. This combination is an outstanding outcome for Dodge’s shareholders, customers, and employees.”
Kevin Jolley, Managing Director with Shields & Co., said “The Dodge family has devoted over 130 years to developing a unique, high-value-add supplier to the death care industry. It was an honor and privilege helping the family find the right steward for the business. Dodge’s line of embalming supplies is a perfect complement to the Matthews’ suite of offerings. In addition, the shareholders are highly confident Matthews will continue Dodge’s tradition of providing outstanding customer service and valuing the company’s employees. We look forward to The Dodge Company’s continued success.”
ArentFox Schiff LLP served as Dodge’s legal advisor. Citrin Cooperman Advisors LLC provided sell-side accounting services to Dodge.
Shields & Company acted as financial advisor to Dodge in the above transaction.
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