Valore Ventures and Grays Peak Capital have acquired Santa Fe Springs, California-based McMurray Stern Inc, a provider of storage, workplace and records management solutions. No financial terms were disclosed.
PRESS RELEASE
LOS ANGELES (October 2018)—Valore Ventures and Grays Peak Capital purchased McMurray Stern Inc., a storage, workplace and records management solutions enterprise in Santa Fe Springs, California, for an undisclosed sum. The transaction marks the first joint acquisition for the two firms.
McMurray Stern plans, designs and executes custom solutions for commercial, government and military installations, across diverse sectors such as industrial, office, healthcare, public safety, education and athletics. Its specialties include high density mobile storage, automated storage and retrieval systems, weapons storage, evidence lockers, library shelving, climate-controlled vaults, mobile shelving systems, and modular workroom furniture.
“We expect McMurray Stern to reach approximately $15 million in revenues this year,” said Kenneth De Angelis, principal of Valore Ventures. “Space optimization is a major market driver and concern for every organization. Globally, the office storage and organization market, alone, is expected to double by 2025. McMurray Stern’s 40-year experience in providing customized solutions will be key in capturing some of that forecasted growth.
“Currently, McMurray Stern has a pipeline exceeding $20 million of transactions, including projects with the future Los Angeles Rams stadium and Kaiser Permanente,” said Greg Gawin, executive vice president of McMurray Stern. “We are very excited to work with Valore and Grays Peak executives whose experience and resources have benefited major national companies.”
Scott Stevens, CEO of Grays Peak Capital, stated, “We strategically look to add value and have identified key opportunities to expand the business and enhance customer service, including developing new product lines, continuing to improve its technology capabilities, and adding to the regional sales force.”
Servicing Southern California since 1980, McMurray Stern’s diverse customers have included the Los Angeles Metropolitan Transit Authority, U.S. Army Reserve Center, Los Angeles County Sheriff’s Department, Western Science Center, and University of California-Santa Barbara’s Library and Department of Special Research Collections.
About Valore Ventures
Valore Ventures (www.valore-ventures.com) is a boutique firm that invests in operating companies, as well as commercial real estate, redeveloping diverse value-add properties in select locations across the U.S.
About Grays Peak Capital
Grays Peak Capital (www.grayspeakcapital.com) is a global investment firm that is focused on identifying emerging business trends and technologies across a variety of industries. It endeavors to invest in companies that are creating imbalances and disruption within their respective industry and short the companies that are negatively impacted by this disruption. Principals of Grays Peak believe that a rigorous and extensive data-driven due-diligence process should allow it to validate its investment thesis before investing.
The firm has several strategic partnerships and investments currently in place, and is actively pursuing additional partnerships and strategic growth opportunities.
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Valore Ventures or Grays Peak Capital (the “Company”) or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company’s ability to conduct the business if there are changes in laws, regulations, or government policies, (vi) management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: https://www.pehub.com/2018/10/valore-ventures-and-grays-peak-capital-buy-mcmurray-stern/
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