IAG M&A Advisors Secures Acquisition of Boyd Plumbing by C M Kelly Inc., Achieving Substantial Premium Valuation.

IAG M&A Advisors is proud to announce the successful sale of a premier commercial and residential plumbing provider in the Florida Panhandle.

ADDISON, TX, UNITED STATES, October 27, 2026 /EINPresswire.com/ — IAG M&A Advisors Secures Acquisition of Boyd Plumbing by C M Kelly Inc., Achieving Substantial Premium Through Competitive Bidding War

IAG M&A ADVISORS has completed the sell-side advisory assignment for its client, Boyd Plumbing, culminating in an acquisition by C M Kelly Inc., a company owned by international billionaire and prolific serial acquirer Gerald Mwangi. This complex transaction was managed through a powerful advisory partnership led by Lead M&A Advisor Flavia Milano and M&A Advisor Steve Barnette, who successfully drove enterprise valuation and protected seller equity up to the closing table.

Anchoring the Florida Panhandle for 42 years, Boyd Plumbing is a premier commercial and residential plumbing provider. The acquisition supports C M Kelly Inc.’s ongoing consolidation strategy within the special trades sector.

The business quickly attracted market attention, moving from active marketing to an accepted offer in just 16 days. The successful exit follows an initial marketing pause after co-owners Luke Courtney and Don Boyd navigated deep personal and emotional ties to the lifelong legacy. When the company re-engaged IAG M&A Advisors following a shift in internal partner dynamics, the advisory team launched a fresh, highly aggressive strategic approach leveraging the company’s accelerated financial performance.

By cultivating intense competitive tension between multiple interested groups, the advisory team ignited a strategic bidding war, securing an all-cash offer that represented a massive 30% premium over the formal conclusion of value.

The closing process required navigating an incredibly rigorous Quality of Earnings (QoE) review initiated by the buyer. At the eleventh hour, the buyer demanded a substantial capital injection to remain in the business as working capital. Recognizing that this would dilute the sellers’ proceeds, Flavia Milano and Steve Barnette directly intervened to renegotiate the working capital requirement down by nearly half, instantly reclaiming hundreds of thousands of dollars in net cash equity for the sellers.

The multi-million dollar transaction officially closed yesterday, securing the financial futures of both legacy owners and placing Boyd Plumbing in the hands of an experienced global operator equipped for its next chapter of growth.

About IAG M&A Advisors

IAG M&A Advisors is a premier sell-side advisory firm specializing in lower-middle-market transactions. The firm navigates complex underwriting, partner dynamics, and structural challenges to maximize latent value for business owners while facilitating clear growth pathways for institutional and strategic buyers.

About Boyd Plumbing

Established over four decades ago, Boyd Plumbing is a premier provider of commercial and residential plumbing services based in Cantonment, Florida, recognized for its long-standing history of consistent growth and community presence in the Florida Panhandle.

About C M Kelly Inc.

C M Kelly Inc. is an acquisition vehicle owned by international serial acquirer Gerald Mwangi, focused on expanding a robust global portfolio within the special trades and commercial services sectors.

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IAG M&A Advisors
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