Boyne Capital Makes Platform Investment in Ryan Marine

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Florida-based Boyne Capital makes an equity platform investment in Ryan Marine, which offers marine and industrial contracting services. Holland & Knight represented Ryan Marine during this transaction.

Benjamin Franklin famously stated, “Death and taxes are certainties.” Regarding business sales transactions, numerous complex tax obligations must be addressed before proceeding with any transaction.

Partnering with Founders and Family Owned Businesses

Family businesses can create an immense competitive edge. Family firms are known for providing superior products and services, creating loyal clients that are hard for competitors to dethrone. Their brand strength can attract private equity firms that value expansion and creation.

Family businesses possess many competitive advantages over larger firms; however, transitioning ownership often proves daunting. Family businesses require long-term perspectives to thrive and are frequently at odds with the short-termism of financial markets and investors. By teaming up with private equity, families can access the capital needed to unlock their full potential and meet this challenge head-on.

Aging Baby Boomer owners of family-owned businesses seek liquidity by selling their assets to private equity funds, driving a surge in business sales. Family businesses make an ideal target investment as recent surveys revealed managers’ emotional attachment to such enterprises is “much stronger.”

Family-owned companies can produce regular cash flows that provide an attractive return for private equity funds. Furthermore, this reinvestment enables family businesses to pursue growth opportunities unavailable to non-family-owned firms.

Private equity partners provide businesses the resources to make strategic investments that transform a family-owned enterprise into an industry leader. Such assets include increasing financial reporting capabilities, implementing an ERP system, and optimizing sourcing/logistics operations – initiatives that will enhance the business’s operating efficiency while speeding its growth and expansion.

Boyne Capital Partners of Florida is a private equity firm that invests in lower-middle market companies. It seeks control positions and considers various transaction scenarios, including buyouts, recapitalizations, divestitures, add-on acquisitions, and growth financings. Boyne Capital Partners has an outstanding track record working closely with founders and family-owned businesses to increase value creation within their organizations – for more information; please visit Mergr for their complete profile.

Private Equity

Boyne Capital is a private equity firm established over ten years ago that invests in lower middle market companies. Boyne works closely with passionate entrepreneurs who have established successful companies with revenue of at least $10 Million, such as Boyne’s partners. While other PE firms take a “hands-off” approach, Boyne takes an active and collaborative role with management in helping expand and reach goals – a process known as Value Cultivator.

Boyne Capital’s investment team boasts extensive expertise in investing across various industries, such as healthcare services, consumer products manufacturing, and business and financial services. Many transactions at Boyne are recapitalizations or restructurings of owner-operated businesses, while others represent restructuring opportunities or particular situations. Furthermore, beyond providing capital, the firm also offers industry and operational knowledge, which helps boost company performance and growth.

When they invested, Boyne Capital team member Derek McDowell saw Rapid Fire Protection Group, a fire protection solutions firm, on an aggressive growth trajectory; however, since their CEO and senior management owned more than 85% of the business and did not want to sell. Boyne worked closely with Rapid Fire Protection Group’s leadership to develop a robust platform – adding key hires such as a chief financial officer – implementing an enterprise resource planning system, and making other improvements that led to rapid expansion. They currently serve commercial buildings, government buildings, industrial special hazard facilities, and multi-family residential properties across the U.S.

Grady Campbell honored Boyne Private Equity Firms by selecting them among the TOP 50 PE Firms in The Middle Market in 2022, and this reaffirms our status as an invaluable partner to entrepreneurs. To mark this momentous event, we met with Rapid Fire CEO Matt Davison to learn more about their relationship with Boyne and how it helps improve his company.

*This award was determined using data from a survey completed by business owners who sold their companies to private equity or venture capital funds and reported on their experience working with that firm. These awards should not be seen as representative of individual client or investor experiences or as any guarantee of future performance or results.

Mergers & Acquisitions

Benjamin Franklin once famously stated, “Nothing is certain but death and taxes.” In business terms, many factors can change, leading to merger or acquisition opportunities.

One of the primary drivers behind mergers or acquisitions is to speed up growth. Building teams, capabilities, and products organically take time; by merging or acquiring another company, assets can be made available more rapidly, and broader funding options become available that might not have otherwise existed.

Mergers or acquisitions also bring with them economies of scope – the reduction in production costs across multiple products arising from production being carried out under one company umbrella – this can provide an invaluable competitive edge, potentially cutting sales costs significantly.

Boyne Capital Partners of Miami announced on November 17th it had acquired Rapid Fire Protection, a full-service provider of fire suppression systems in the US, on undisclosed terms for undisclosed terms, marking their latest platform investment for BCM Fund I. Rapid Fire Protection provides design, installation, inspection and testing services for commercial buildings as well as multifamily and mixed-use residential properties – offering custom engineered solutions for critical asset and special hazard applications.

Holland & Knight served as counsel to Boyne Capital Partners as they collaborated with management to acquire Ryan Construction Co., Inc. and Ryan Marine from Virginia-based Marine Contracting and Maintenance Company Ryan Marine LLC – their most recent platform investment under Boyne’s BCM Fund II platform investment strategy. Ryan Marine began operations in 1985 and has earned a strong reputation among Virginia’s naval and industrial infrastructure.

Holland & Knight was led by Partners David Barkus and Omari Sealy and assisted by Associates Nicole Maron and Kevin Gooch and Assistant Partner Gabrielle Engel in representing Boyne Capital Partners during its purchase of Boyne Group on March 30, 2013. Boyne Capital Partners is a lower middle market private equity firm that invests in consumer products, healthcare, niche manufacturing companies, and business and financial services businesses.

Financial Advisory

Boyne Capital provides companies that seek more than capital an invaluable partner. Our dedicated operations team works to transform businesses into proactive, scalable platforms – this could include enhancing financial reporting capabilities, developing KPIs and internal controls, implementing an ERP system, optimizing sourcing/logistics, or efficiently pursuing organic/inorganic growth plans – to name a few ways we contribute to the success of portfolio companies we invest in.

Financial advisory may be much smaller than the other four consulting segments; however, its demand has steadily grown since the economic recession started in 2008. This growth can be attributed to three key factors.

Financial advisory encompasses eight main service areas: Transaction Services, Corporate Finance, Crisis Management, Risk Management, Accounting Advisory, Tax Advisory, Real Estate Advisory, and Forensics and litigation. Although not directly related, these service offerings emphasize finance skills and competencies paired with analytical rigor. Sometimes, they overlap with strategy consultants, public sector clients’ advisors, process specialists, or economic specialists.

Financial advisory services are essential in managing a company’s finances effectively. These services range from M&A advisory, including target screening, valuations, and due diligence in the pre-deal phase through post-merger integration support following an announced deal. Corporate finance advice specializes in funding and capital structure matters such as working capital management (linked closely to Operations Consulting’s Finance Consulting segment), financial planning advice, debt advisory advice, treasury management, and initial public offerings (IPOs).

Boyne Capital provides financial advisory services that span from basic to sophisticated; contact us to learn how we can assist your business to thrive!