Heyward Incorporated
(Download PDF announcement here.)
The Heyward Incorporated brand is over 100 years old. Heyward, headquartered in Richmond, VA for over 25 years, is a leading manufacturer’s representative of water and wastewater treatment process equipment for more than 40 industry leading manufacturers and serves customers in Virginia, Maryland, D.C, and Delaware.
Jim Chastain, President of Heyward said, “Windward provided essential financial analytics and advisory services needed to obtain the highest value for our business, and facilitated a smooth and successful transaction. We are very pleased with the result, and it was a pleasure working with Steve Howell and Greg Waller, who are both highly experienced and consummate professionals. It is truly an honor and a privilege to join such a talented group of professionals at UFT that share the same core values and principles as we have built Heyward Inc on since its founding.”
UFT, established by HIG Capital, is a US market leader in process and equipment solutions for the municipal and industrial water and wastewater markets, with a focus on innovation, excellence, and customer service. Matt Hart, CEO of UFT stated, “Heyward delivers an outstanding reputation and deep regional expertise that make them a natural fit for the UFT platform. We are excited to welcome their team and continue growing together in services to our clients.”
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 Greg Waller, Managing Directors of Windward stated; “It was a great pleasure to work closely with Jim Chastain and his partners Mark Morgan and John Seaman, to manage this sales process to a successful conclusion. We believe UFT will be a great partner for Heyward and its employes to expand on their strong history of quality products and service for customers.”
Tom O’Brien, a Shareholder with the law firm Spotts Fain PC and his legal team along with Bret Wilkinson a Principal with the accounting firm of Joyner, Kirkham, Keel & Robertson, P.C. were instrumental in structuring, negotiating, and closing this transaction.