Industry: Environmental Products
Manufacturer of Erosion control socks.
The lead came from an accountant. We listened carefully to the accountant’s observations and the client’s needs. Vetted one carefully crafted introduction. Buyer local private equity team.
Terms: No real estate. Buyers secured 60% interest.
Why sell? Sellers realized that they were holding the company back, and it was impeding their conservative lifestyle.
How deals go down: The Buyer’s first bank stalled the financing to where the opportunity was expiring, so the Buyers brought in a 2nd bank to compete. After reviewing the deal, the Buyers discovered that their attorneys had over-billed them by six figures.
Result: The motivated PE firm finessed the business and less than three years later, sold it for 6x their initial price. The game was worth the candle in this case!
