Eureka Equity Partners (“Eureka”) today announced the sale of McCue Corporation (“McCue”), a global provider of highly engineered safety and asset protection solutions for a wide variety of end markets and applications, to a U.S. subsidiary of Bunzl plc (LON:BUNZ).
Headquartered in Danvers, MA, with offices in Texas and California, as well as the U.K. and China, McCue supplies over 2,400 customers around the world from a product portfolio of over 2,800 SKUs across 8 product categories. McCue brings its industry-leading design and engineering capabilities, and over 85 active and pending product patents, to deliver innovative products and safety solutions that protect people, equipment and inventory from parking lots to warehouse and distribution facilities. McCue is a trusted brand for customers operating across a broad range of end markets including traditional retail, e-commerce, industrial manufacturing, and material handling and distribution.
“It has been a tremendous partnership with CEO David DiAntonio, COO Vincent Jungels, and the rest of the McCue senior management team, from the moment of our initial investment in 2017,” said Jonathan Chou, a Partner with Eureka and former Director of McCue. “The McCue team was outstanding in executing the strategic goals of expanding its product offerings, diversifying into new high-growth end markets, and increasing customer wallet share to achieve an annual growth rate of over 23% in EBITDA during Eureka’s ownership.” Tassie Oswald, a Principal with Eureka and former Director of McCue, added, “We are extremely pleased to see McCue evolve into a premier safety solutions provider that has a reputation as the market leader within its categories while possessing a deep pipeline of innovative new products that should generate exceptional growth and continued success in the future.”
“Eureka has been instrumental in guiding McCue for the past four and a half years and helping us create and execute on an aggressive growth plan which we have exceeded at all levels,” said David DiAntonio. “Eureka was the perfect partner for McCue, as their understanding of our industry, our business, and the requirements of how to build an exceptional growth enterprise were integral to our success. Without Eureka’s perspective, support and encouragement of our value-creating initiatives, I am certain that we would not have exceeded our goals and achieved the milestones that we did under their ownership. Eureka worked hard to put our people and business in a position to enable McCue to become the market leader it is today and well-positioned to capitalize on opportunities for continued significant growth in the years ahead.
Piper Sandler & Co. served as financial advisor and Morgan, Lewis & Bockius LLP acted as legal advisor to Eureka and McCue.