Chartwell Advises on Simultaneous Sale of Sierra Aluminum Company to Samuel, Son & Co. and Sale Leaseback with LBA Realty

Chartwell is pleased to announce the successful simultaneous sale of (i) Sierra Aluminum Company (“Sierra” or the “Company”) to Samuel, Son & Co. (“Samuel”), a proven leader in processing and distribution of metals in North America, and (ii) the Company’s real estate in a sale leaseback transaction with LBA Realty, LLC (“LBA”), a real estate investment and management company with a focus on the Western United States. Sierra, a widely regarded, best-in-class provider of standard and custom aluminum extrusions, with significant end-to-end manufacturing and value-added capabilities, had been 100% owned by its Employee Stock Ownership Plan (“ESOP”) since 2006. Since that time, Ed Harris (Chief Executive Officer) and his senior management team successfully grew the business through the economic downturn and enabled the ESOP and its participants to enjoy significant equity appreciation to fund employees’ retirements. Chartwell acted as the exclusive financial advisor to Sierra, providing comprehensive and unbiased advice to the Company throughout the duration of both the corporate and real estate transaction. Following a thorough and complicated sale process, the sale to Samuel was completed on July 9, 2018, providing a significant gain to the retirement assets of the ESOP participants. Simultaneous with the sale to Samuel, a sale leaseback transaction was executed to maximize the equity value of Sierra for the benefit of the ESOP participants.

From the commencement of the transaction process, the Board of Directors and management team were highly focused on fulfilling their obligations to the ESOP while preserving Sierra’s superior reputation and employee culture, and positioning the Company for further growth and success well into the future. Chartwell and Sierra’s Board thoroughly evaluated indications of interest from numerous potential acquirers to determine and proceed with the optimal buyer for the Company. Samuel brings significant business acumen and exceptional experience in the metals industry, as well as the capital necessary to propel continued market share expansion and growth.


This process began four years ago when the Board of Directors engaged Chartwell to help evaluate the full slate of strategic alternatives for Sierra given our need for growth capital and the ongoing management transition. Chartwell provided high-quality financial analyses and advice regarding a wide array of strategic alternatives, which ultimately led to the selection of an M&A sale as it was the best option to maximize shareholder value. Furthermore, Chartwell identified the value of company-owned real estate and its material, positive effect on ESOP-participant account balances through the sale leaseback transaction. Chartwell worked diligently to help find the optimal buyer for Sierra, providing honest, straight forward feedback along the way with their unrivaled ESOP expertise. Their commitment and dedication in assisting the company in this process is truly appreciated – I’m not sure how we could have done it without them.”

Ed Harris, Chief Executive Officer & Chairman of The Board, Sierra Aluminum Company

The extensive transaction process undertaken by Sierra and Chartwell was very well orchestrated and managed by Chartwell. The simultaneous corporate and sale leaseback transaction was quite complicated and involved a vast amount of diligence and financial analysis, as well as coordination among many parties. Chartwell successfully managed the process from start to finish, providing meaningful advice and creative solutions to address the inevitable road bumps along the way. I am very thankful for all of their hard work and assistance in helping realize the retirement balances for ESOP participants, and I am excited to begin our new journey with Samuel to continue serving our customers and employees alike for many years to come.”

Robert Horsley, Chief Financial Officer, Sierra Aluminum Company


Founded in 1986 by Bill Hunter and Ed Hudon, Sierra Aluminum is a full-service manufacturer of standard and custom aluminum extrusions.  Products range from basic mill finished extrusions to custom curtain wall assemblies.  Their manufacturing capabilities include: billet casting, extrusion, painting, anodizing, fabrication, and thermal improvements.  The Company is one of the only privately held, fully vertically integrated aluminum extruders.  Sierra offers its products to companies in the architecture, automotive aftermarket accessories, commercial and residential construction, recreational vehicles, and solar industries.  The Company currently has a staff of over 600 professionals serving over 250+ active customers spanning from California to Tennessee.  Sierra is headquartered in Riverside, California with other manufacturing facilities located in Fontana, California.  For more information about Sierra, please visit


Founded in 1855, Samuel, Son & Co. is a family-owned and operated, integrated network of metal manufacturing, processing and distribution divisions.  With 5,200+ employees and 100+ facilities, Samuel provides seamless access to metals, industrial products, and related value-added services.  Supporting 40,000+ customers, they leverage their industry expertise, breadth of experience, and the passion of their people to help drive success for North American business - one customer at a time.  For more information about Samuel, please visit


LBA is a real estate investment and management firm specializing in investments in value-added office and industrial properties throughout the Western United States.  They have a specific focus on investing in California, Colorado, Washington, Oregon, Arizona, Nevada, Texas, and Utah.  LBA was founded in 1991 and is headquartered in Irvine, California.  For additional information on LBA Realty, please visit


Sierra Aluminum Company was represented by Chartwell Financial Advisory, Inc. as its sole financial advisor, with ESOP Law Group, LLP acting as legal counsel, and JP Real Estate Partners, Inc. as Sierra’s real estate advisor.  GreatBanc Trust Company served as the ESOP Trustee, with Stout Risius Ross, Inc. and Moore & VanAllen, PLLC providing financial and legal advice, respectively.  Samuel, Son & Co. was represented by Foley & Lardner LLP as legal counsel. LBA Realty, LLC was represented by Seyfarth Shaw LLP and Cox, Castle & Nicholson LLP as legal counsel.  For additional information about this transaction, please contact Greg Fresh or Ted Margarit.