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Varnum Represents Mechanical Insulation Business in Sale to Industrial System Supplier

January 26, 2024

Kaiser Enterprise, a privately held supplier of industrial systems, recently acquired a majority interest in Ferndale-based Rival Insulation. Varnum represented Rival in the matter.

The Varnum M&A team negotiated the purchase agreement and represented Rival ownership in all legal aspects of the deal, which included the sale of a majority of the equity interests to an affiliate of Kaiser Enterprise. The Varnum team included Michael Romaya, Matt Maltz and Rana Eid (M&A) and Shawn Strand (tax).

Rival specializes in mechanical insulation for a variety of industries, including health care, automotive, education, commercial, government, and heavy industrial. The Kaiser Enterprise is a privately owned, vertically-integrated team made up of Gallagher-Kaiser (GK), GK de Mexico, GK Canada, GK Germany, Universal Piping Industries (UPI), Tann Corporation, Kais-AIR, Commerce Controls Incorporated (CCI), Ventcon Incorporated and Rival Insulation. Together, this turn-key team serves a variety of customers in a wide array of markets. The Kaiser Enterprise operates out of their Troy headquarters, with manufacturing and offices throughout North America.

“We’re very pleased with our representation from Mike and the entire Varnum team,” said Rival CEO Chris Tremberth. “They understood the complexities of the deal and made sure we were well represented and informed throughout the process. We couldn’t be happier with the result.”

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