November 15, 2022
Bellevue, WA: Berntson Porter Corporate Advisory Advises the Owners of Diamond Nets, Inc. on a Sale to Salt Creek Capital
Berntson Porter Corporate Advisory, LLC (“BPCA”), an M&A advisor serving middle market clients in the Pacific Northwest, today announced it acted as the exclusive financial advisor to the owners of Diamond Nets, Inc. (“Diamond Nets”), based in Everson, WA, in a sale to Salt Creek Capital (“Salt Creek”), based in Woodside, CA.
Operating out of a 42,000 sq/ft production facility and producing over 1.0M pounds of bulk knotted netting annually, Diamond Nets is a leading full-service producer of small batch netting, selling to installers and distributors throughout the US as well as internationally. Diamond Nets’ products serve a wide variety of end-market applications including safety, military, sports, agriculture, and commercial fishing.
Salt Creek is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with between $5M and $150M in revenue. Salt Creek’s ability to bring in an experienced operator, and their long-term approach to investing in lower middle market businesses, made them an attractive acquiror.
Les Powers and John Neal, Owners of Diamond Nets, jointly stated “It has been our great pleasure over the last three decades building Diamond Nets into the business it is today. We look forward to seeing the Salt Creek Capital team continue to grow the business and lead it through its next stage of growth.”
Bobby Sheth, Managing Director of Salt Creek Capital, added, “Diamond Nets is an established leader in the netting space and we look forward to working alongside the team to continue to innovate and expand with this great platform.”
This is the sixteenth completed transaction that BPCA has advised on since the firm’s formation in 2017, and the second in 2022. Other completed M&A transactions include companies in the manufacturing, industrial services, professional services, consumer products, construction, technology, and distribution sectors.
For more information about this transaction, please visit www.bp-cas.com or contact the BPCA deal team: