Prairie Represents Cyl-Tec, Inc. in its Sale to an Employee Stock Ownership Plan

OAKBROOK TERRACE, IL - February 28, 2022 - Prairie Capital Advisors, Inc. ("Prairie"), a leading middle-market investment bank, acted as financial advisor to Cyl-Tec, Inc. ("Cyl-Tec" or "the Company") in the sale of the company to an Employee Stock Ownership Plan.

Headquartered in Aurora, Illinois, with additional warehouses in Washington and Canada, Cyl-Tec began as cylinder re-testing in 1991 and quickly grew into an international supplier of high-quality gas cylinders and bulk tanks. Today, the Company's mission is to serve the needs of the compressed gas industry by providing exceptional value, high-quality products and expert customer service. Cyl-Tec prides itself on offering customers one place for all of their products and ensuring customers receive their products on time. With its experience and dedication, Cyl-Tec has come to be known as a prominent leader and innovator in the compressed gas industry who understands what matters most to customers.

Prairie worked closely with the management team and sellers, providing advisory expertise and managing the preparatory, structuring, due diligence and negotiation phases of the transaction. Terms of the transaction were not disclosed. "After considering several ownership transition structures for Cyl-Tec, it was evident that an ESOP met nearly all of our near- and long-term ownership transition objectives," says Tom Bennett, President at Cyl-Tec. "Transitioning ownership to our employees was the ideal solution for our company. Prairie's team demonstrated the expertise and guidance needed in structuring the right ESOP transaction for all of us."

"Tom had a very clear vision of the future and how the ESOP could help contribute to the growth, success and independence of the Company," commented Rocky Fiore, Managing Director and COO at Prairie. "Inviting employees to share in the value created at Cyl-Tec will not only recognize their contributions to Cyl-Tec's success but will also further their commitment to providing high-quality products and expert customer service." Richard Shuma, Managing Director at Prairie, added, "It was a pleasure working with the Cyl-Tec team throughout the entire transaction process. Cyl-Tec has all of the characteristics to become a successful ESOP company."

Prairie Capital Advisors, Inc.
One Lincoln Centre
18W140 Butterfield Rd
Ste 800
Oakbrook Terrace, IL 60181

Media Contact
Wendy Gugora, Director of Marketing
630.413.5574
wgugora@prairiecap.com

About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory, valuations & opinions and financial reporting valuations to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. In 2022, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.

This release was published on openPR.