At the request of its Board of Directors, SMC Corp., Bend, Ore., has hired investment banking firm McDonald Investments Inc. “to explore strategic opportunities to enhance shareholder value, including the possible sale of the company.”
However, the company added, “There is no assurance that a transaction will occur.”
SMC President and COO Michael Jacque will work full-time with the investment bankers from McDonald, according to the company.
Meanwhile, SMC co-founder Matt Perlot, who announced in January that he was retiring as chairman and CEO, now is in charge of sales and marketing.
Curtis Lawler, the other co-founder and current CEO, is in charge of operations.
Perlot, 64, said during January that he was retiring for health reasons. “Mr. Perlot still intends to retire once Mr. Jacque has completed his current task (working with McDonald),” according to the company.
Perlot owns 3.25 million shares, or 53.5% of SMC’s outstanding stock.