PennSpring Capital Acquires Burch Materials & Supplies
Building Upon Exceptional Track Record in Industrials and Distribution in South Central PA
MALVERN, PA, February 16, 2022 – PennSpring Capital (www.pennspring.com), a people-forward investment firm focused on lower middle market opportunities in South Central Pennsylvania, announced today that it has acquired majority interest in Malvern, PA-based Burch Materials & Supplies, (“BMS”, the “Company”).
For over 40 years, BMS has been a leading provider of equipment and supplies to the aggregate, mining and material processing industries. Through its growth BMS has evolved from a provider of innovative wear and screen media products to a full-service equipment and service provider, and the developer of premier WearTex equipment and parts. BMS is committed to delivering superior customer service while providing state-of-the-art products and deep technical knowledge.
BMS President & CEO, Charles Burch, commented “We are thrilled to partner with PennSpring for the next chapter of BMS’s growth. Their thoughtful approach throughout the process is symbolic of the principled service on which BMS prides itself. BMS’s success is a reflection of our focus on building long-term relationships with our customers over the last 40 years. With PennSpring’s entrepreneurial expertise and operational know-how, I am confident they are the right steward to build on and enhance the value the tremendous BMS team creates for our clients, employees and stakeholders.”
“BMS is a trusted, value-add partner to its 600-plus loyal customers,” said PennSpring Managing Partner Lou Castelli. “Decades-long client partnerships and agile responsiveness to market demand for a diversified distributor are testaments to BMS’s industry leadership. As the private markets investor of choice for South Central Pennsylvania, we are excited to deepen our commitment with the acquisition of BMS.”
Barley Snyder LLP served as legal counsel to BMS. Murphy McCormack Capital Advisors acted as financial advisor to BMS. Cozen O’Connor served as legal counsel to PennSpring.