Zip Products, Inc.
(Download PDF announcement here.)
Zip Products, Inc.(“Zip”) Founded in 1977 and headquartered in Mechanicsville, Virginia, Zip maintains a broad and deep product offering for iconic C1 through C8 Chevrolet Corvettes. The company, which has been owned by David Walker and his family since its inception, offers over 45,000 unique parts and has a strong reputation for providing customers with innovation and exceptional service.
David Walker, President of Zip stated, “Barry and Steve provided the wisdom, guidance, and personal insight that I needed as a business owner to facilitate a positive transaction for all parties. I am very grateful for their service from initial discussions through closing and beyond.”
Legendary Companies (“Legendary”), Legendary is a platform company of Irving Place Capital a New York based private investment firm and is a leading manufacturer and supplier of collector car tires, wheels, and restoration hard parts. Mike Kealey, President and CEO of Legendary stated, “Adding Zip to our existing hard parts businesses, Corvette Central and Paragon Corvette, creates an industry leading supplier with an incredibly broad parts library well suited to serve all Corvette owners. David Walker and his family have built an outstanding business with a 45-year history of providing high-quality parts and leading customer service. We are excited that David remains committed to Zip and it’s continued development, and we look forward to working with the broader Zip team to continue growing our combined business.”
Windward Advisors, LLC (“Windward”) specializes in helping business owners better prepare their businesses to maximize shareholder value by providing strategic planning and corporate growth advisory services, and by representing owners in the execution of sale, acquisition, and capital structuring transactions.
Steve Howell and Barry Johnson, Co-Founders of Windward stated; “It was a great pleasure to work closely with David Walker, a focused and strategic entrepreneur, to manage this sales process to a successful conclusion. We believe Legendary will be a great buyer for Zip and its employes to expand on the strong history of quality products and service for customers.”
Tom O’Brien, a Shareholder and Head of the Merger and Acquisitions team with the law firm Spotts Fain PC in Richmond, VA, and his team were trusted advisors that helped structure, negotiate, and close this transaction.