Raincatcher Represents Research Tool & Die on Its Successful Sale to Fairbanks Morse Defense
| September 2023
Research Tool & Die Works, Inc. (RT&D), a family-owned supplier of high-quality electrical hardware to the U.S. and Canadian Navy, has been acquired by Fairbanks Morse Defense. The Carson-based RT&D was exclusively represented by Raincatcher during the sale process.
Founded in 1944, RT&D operates from two manufacturing facilities on its campus in Carson, California, where it designs and manufactures hardware products for sale directly to naval shipyards.
RT&D has a long and distinguished partnership with the U.S. Navy, dating back to 1945. In 1990, U.S. Congress tasked RT&D with solving bond strap corrosion issues on U.S. naval vessels.
Established in 1944 by Fred Perrault, ownership of the business later passed to son Ray Perrault and his wife Karen Perrault. Karen, who currently serves as CEO, has been with the business for more than 50 years, and recently announced her retirement, prompting the sale of the business. Rounding out RT&D’s executive leadership is Fred’s grandson Kevin Perrault and his granddaughter Tami Johnson, who served as leads on the sale of the business.
The Perrault family chose to sell the generational business because their mother was ready for retirement, yet at the same time the Company had experienced its most successful year to date.
“This whole process was one scary decision after another. One of the first was to choose Raincatcher to guide us through this process,” said RT&D President Kevin Perrault. “I think that was a fantastic decision and it made all the difference. The whole team has been friendly, professional, and on top of every detail. I will always be a glowing recommendation for your business as a whole and you all as individuals.”
The deal was exemplary for Raincatcher as it stood close to its mission to be of service to American business owners. Succession planning is never an easy task for an entrepreneur, and it was an honor for our firm to help this generational business find its perfect transition.
“This is a marquise deal for me personally and for Raincatcher as a firm,” said Aaron LInnebach, Managing Director at Raincatcher. “It's a strong strategic fit for Fairbanks Morse Defense, as they are uniquely positioned to unlock the value from RT&D’s deeply entrenched family of proprietary products, strong aftermarket dynamics, and multiple opportunities for margin expansion and growth. More important than the deal dynamic though, this transaction typifies what we go to work for every day: the opportunity to represent a multi-generational family in one of the most significant events in the story of their legacy. Ours is only a small part of our clients' years-long story, and it truly is a privilege for us to serve. Three generations of Perrault did the hard work in building this business and stewarding it for 75+ years. I do not doubt that under Fairbanks Morse Defense the next 75 years will be just as fruitful.”
Click here to learn more about the sale.
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About Raincatcher
Raincatcher is a national business brokerage and mergers and acquisitions firm that specializes in small and mid-market businesses. The company’s mission is to help entrepreneurs build, buy and sell remarkable companies. To locally serve national business owners at every stage of their journey, Raincatcher has specialized directors that suit different business needs, including exit planning, brokerage services, and valuation products.
Managing Director - Midwest, Cameron Bishop
Managing Director - East Coast, Steve Fisher
Managing Director - West, Aaron Linnebach
Managing Director - Digital, Mark Woodbury
Raincatcher’s approach is notable because it applies a team approach to all its efforts. Its team members come from a diverse set of backgrounds and skills, ranging from accountants to financial analysts, who are often entrepreneurs themselves. This diversity of talent enables the team to guide Raincatcher’s clients with firsthand knowledge and experience through all phases of the business processes of building, buying, and selling.
Raincatcher has been named by Inc. Magazine as #1 Business Broker, Best Workplace in 2020, and #376 on Inc. 5000 List in 2021.
About Research Tool & Die (RT&D)
Research Tool & Die Works (RT&D) is a manufacturing company with more than 70 years of experience in electrical-systems hardware design and metal stamping fabrication. Skilled tool and die, makers, design engineers, and production personnel have combined to build a distinguished reputation for quality products and have established RT&D as a leader in developing innovative designs and manufacturing processes. RT&D has obtained over thirty domestic and foreign patents on products and tooling techniques.
