The deal is about to finish in early Q2 2023. The acquirer’s president, Danny Kaufman, mentioned that “at this time’s announcement alerts to {the marketplace} that Burns & Wilcox is pursuing an aggressive acquisition technique.”
“McIntyre has a thriving industrial enterprise that aligns properly with our vital presence in Louisiana and all through the Southeast,” Kaufman mentioned. “We sit up for having Bart and his crew be part of ours, whereas persevering with to broaden Burns & Wilcox throughout the area.”
Bart Dugdale, McIntyre president, and his crew of associates will stay with the enterprise after the sale has formally closed. Dugdale will assume the function of affiliate managing director and can report back to Bonnie Steen, vice chairman and managing director for Burns & Wilcox’s Louisiana and Arkansas divisions.
“A perfect match”
McIntyre & Associates was based in 1998 by Dugdale’s father-in-law, Invoice McIntyre, and has since unfold its operations throughout the state of Louisiana, with a concentrate on contractors, lessors’ dangers, eating places, particular occasions, and industrial packages, amongst others.
“Becoming a member of a world group like Burns & Wilcox is a perfect match for our firm,” mentioned Dugdale. “They’re dedicated to investing the sources to gasoline our development and can give our crew great skilled improvement alternatives.
“We had been drawn to the independence of Burns & Wilcox and its household possession.”
Burns & Wilcox has “made it clear that they need our workplace to play a significant function” within the enterprise’s future, based on Dugdale.
“Our crew is trying ahead to years of success as being part of Burns & Wilcox,” Dugdale mentioned.
Shifting dynamics
The deal comes as One180 Intermediaries director of integration Barbara Ingraham has mentioned that because of excessive rates of interest and an unsure financial panorama, the “math” behind mergers and acquisitions is almost definitely present process a change. Regardless of this, Ingraham advised Insurance coverage Enterprise in a latest interview that M&A logic stays intact and are deal sprees are set to proceed.