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Tips for Choosing an M&A Advisory Firm

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M&A advisors can add real value to a transaction. Here are a few tips to consider when choosing an M&A advisor to partner with as you begin to prepare for a sale.

Get Your Books in Order

Having your books in order can speed the sale along, and will instill confidence and trust in potential buyers. Small enterprises often struggle to maintain their books, especially as their business grows. So take some time to get to know your business’s numbers and control the books. Your financials send a clear message about how well the business is being run. Make sure that message is a positive one. The process of selling your business will have its ups and downs – do what you can beforehand to ensure that the process goes as smoothly as possible. In the end, the prep you do now will only benefit you at the end of the process.

Know That M&A Firms Come in All Sizes

M&A firms may employ just a person or two, or dozens of experts. There’s a certain level of cache that comes from working with a large global firm, but that prestige is often offset by costs. Large firms are often less focused and specialized than smaller businesses. You may actually get more attention and better specialization from a smaller shop.

Larger firms tend to have significant resources and clout. They are highly adept at speeding the process and mining their contacts. Meanwhile, boutique firms are often more specialized in specific industries.

Consider interviewing several different firms. Ask for a specific plan for marketing and selling your business. Assess which firms understand your business and philosophy, then ask yourself which firm feels “right.” After all, you will be working with this company for many months.

Fees are going to play a major role in your decision, and in the deal. The key is to get the most out of the fees you pay—not to get fees that are the lowest in absolute terms. So weigh the fee structure against the value the firm promises, and then choose accordingly.

About Merit Investment Bank

Merit Investment Bank is a leading Boutique Investment Bank focused on serving middle market companies. We are a client-focused team of experienced entrepreneurs, operating executives, and investment bankers with expertise in a broad range of industries. Unlike traditional banks that focus on the transaction, we set our sights on the long-term goals of your company – and we provide the personalized service to assist you every step of the way. Our firm is known to provide strategic merger and acquisition investment guidance, corporate finance and consulting support services for boosting the growth of business.

Merit Investment Bank, a leading middle market investment bank, with a specialization in building products, is honored to have served as exclusive advisor to VaproShield (“VaproShield”) in its sale to (Muncaster Capital.)

by: Merit Investment Bank

SEATTLE – October 31, 2025 – PR.com – Merit Investment Bank (“Merit”), a leading middle-market investment bank with deep expertise in the building products and construction materials sector, is pleased to announce that it served as the exclusive financial advisor to VaproShield, a premier manufacturer of high-performance air and water barrier systems, in its sale to Muncaster Capital, a privately held investment company based in Texas.

This strategic transaction represents a significant milestone for VaproShield, a recognized innovator in the building-envelope industry. For more than two decades, the company has pioneered the design and manufacture of high-performance, vapor-permeable air barrier (AB) and water-resistive barrier (WRB) membranes and accessories. Through its commitment to research, sustainability, and customer-focused innovation, VaproShield has become a trusted partner to architects, builders, and developers seeking to enhance energy efficiency, moisture control, and long-term building performance.

“The sale of VaproShield shows what’s possible when visionary founders create real value and plan strategically for an exceptional exit,” said Craig Dickens, Chairman of Merit Investment Bank. “We were honored to help align the company with the right partner, culture, and capital for its next stage of growth. This milestone reflects years of innovation, discipline, and thoughtful preparation leading to an outstanding outcome.”

The acquisition by Muncaster Capital, am ESOP, will provide VaproShield with additional resources and strategic backing to expand operations, accelerate innovation, and strengthen its presence in both domestic and international markets. Muncaster’s long-term investment philosophy aligns closely with Vaproshield’s mission to deliver environmentally responsible, high-performance solutions to the construction industry.

“VaproShield has built an exceptional brand through innovation, sustainability, and performance,” added Chris Barnes, Managing Director at Merit Investment Bank. “It was a privilege to advise such a forward-thinking team whose commitment to excellence andcustomer trust has made them industry leaders. This transaction delivers a strong outcome for shareholders and positions VaproShield for its next phase of growth.”

Legal counsel for the company was provided by Holland & Knight LLP. Merit extends its appreciation to Stephen McKay and the firm’s M&A team for their seasoned legal guidance and support throughout the transaction, ensuring a smooth and efficient closing process.

The company was also advised by Baker Tilly US, LLP. Merit acknowledges Preston Smith, Director – Transaction Advisory, and Michael Hurst, Partner – Tax, for their expert guidance and transactional support. Their technical insight and professionalism were instrumental in achieving a successful closing.

About the Buyer

Muncaster Capital of Texas, Inc. is a privately held holding company based in Ennis, Texas, primarily associated with the building materials and protective coatings industry. Established in 1986, it serves as the parent company for Polyguard Products, a leading manufacturer of high-performance barrier systems, air and moisture membranes, and protective coatings used in construction and infrastructure projects.

Muncaster Capital oversees operations focused on innovation, sustainability, and long-term business growth within the building-envelope sector. As a mid-sized, family-owned enterprise, it plays a strategic role in managing assets, guiding corporate development, and supporting Polyguard’s mission to deliver durable, energy-efficient solutions to the construction industry.

About Merit Investment Bank

Merit Investment Bank is a leading boutique investment bank focused on serving founder/family-owned middle-market, technology-forward companies. The firm principally executes sell-side M&A, as well transactions with specific emphasis on the building products technology, infrstructure, consumer, and manufacturing/distribution/industry 4.0 sectors.

In addition, Merit offers services including buy-side M&A debt and equity capital raises, restructuring advisory, business valuations, and project financing.

Securities offered through Finalis Securities LLC, Member FINRA/SIPC. Merit Investment Bank and Finalis Securities LLC are separate, unaffiliated entities

Contact:

Craig Dickens, Chairman

Merit Investment Bank

Craig.Dickens@MeritInvestmentBank.com

253-370-8893

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