November 2022 – Osprey Capital Partners Inc. (“Osprey Capital”) is pleased to announce that Tayco has completed a sale transaction to Bill Melnik, owner of the BRC Group of Companies. Toronto based Tayco is a modern office furniture manufacturer, supplying North America with high quality workplace furnishings since 1976. Tayco will continue to function separately from BRC under Melnik’s leadership. Osprey Capital acted as exclusive financial advisor to Tayco.
The Client
Founded by Phil Philips in 1976, Tayco is a Toronto based modern office furniture manufacturer supplying North America customers with high quality workplace furnishings including office systems, desks, storage, tables, and seating.
The business was led by Kevin Philips, an industry veteran who has worked with Tayco for over twenty-five years as the second-generation owner of the company.
The Objective
The family shareholders of Tayco were interested in selling the entire business but wanted to ensure that the loyal employees, customers and suppliers would continue with the company. Osprey Capital was engaged to develop a strategy to help find the right strategic buyer.
The Result
Ultimately the business was sold to Bill Melnik, the owner of BRC Group of Companies which includes a premium mid-market office furniture manufacturer. Bill brings unique industry expertise that will allow Tayco to increase capacity and develop innovative, high-design products.
“Since my dad, Phil Philips, launched Tayco in 1976, it has been our mission to create jobs, foster an engaging culture, and create inspirational workplace experiences through our product offerings,” says Kevin Philips, former CEO of Tayco. “I am thrilled to have been a vital part of Tayco’s journey and am even more excited for Bill’s expertise and entrepreneurial initiative to further progress Tayco’s mission.”
“The amazing culture and striking manufacturing space is what first attracted me to Tayco,” says Bill Melnik, CEO of Tayco. “Our energy and investment will enhance the Tayco brand, increase efficiencies, and allow us to expand into new market sectors. The Philips family have laid a strong foundation and I am overjoyed to lead Tayco’s future success while honoring its rich history.”
“We are pleased to have been able to help Kevin and the family through the process and wish Bill all the best in continuing to grow the company” says Stephen Jakob, Managing Partner of Osprey Capital Partners.
