Selling a business is one of the most significant financial transactions an owner will ever undertake. Choosing the right M&A advisor may influence not only the purchase price but also the transaction structure, timing, and likelihood of closing. Accordingly, business owners should understand what an experienced advisor brings to the process before entering the market. […]
ABOUT THE TRANSACTION: Pedia Research, LLC (“Pedia” or the “Company”) has been acquired by Qualmedica Research, LLC (“Qualmedica” or the “Buyer”). Headquartered in Evansville, Indiana, Pedia Research, LLC has conducted clinical research for pharmaceutical and healthcare organizations for more than twenty years. The Company operates with a focused mission of “Improving Health Through Research.” Pedia’s […]
ABOUT THE TRANSACTION: Kentucky Bourbon Barrel (“KBB” or the “Company”) has been acquired by Independent Stave Company (“ISC” or the “Buyer”). Headquartered in Louisville, Kentucky, KBB operates at the center of one of the world’s most important bourbon markets. The family-owned company supplies high-quality, ready-for-filling used barrels to distilleries, wineries, and breweries worldwide. KBB has […]
A successful M&A process requires more than presenting financial statements to prospective buyers. Buyers need to understand the business behind those numbers. At the outset, the Confidential Information Memorandum, or CIM, provides that understanding. It organizes detailed company information into a clear and credible M&A investment story. Developing the Company Story Developing the CIM requires […]
Finding prospective buyers represents only one part of selling a business. The more difficult task involves determining which buyers can actually complete a transaction. Every sale process can attract tire kickers. These prospective buyers express interest but lack the commitment, resources, or clear objectives required to close. Some may simply want information about the company […]
Business owners often assume the agreed enterprise value represents the amount they will receive at closing. However, enterprise value is only the starting point. In most M&A transactions, buyers value a business based primarily on its expected future earnings and cash flows, discounted for risk. Buyers also expect the operating assets necessary to generate those […]
M&A professionals often say that having only one buyer is similar to having no buyers. The expression highlights the value of competition. Multiple qualified buyers give a seller alternatives and strengthen negotiating leverage. However, even a well-managed sale process may eventually narrow to one credible buyer. When that happens, the seller’s strategy must change. When the […]
ABOUT THE DEAL: Brasch Constructors, Inc. (“Brasch” or the “Company”) has been acquired by A.L. Post, Inc. (“A.L. Post” or the “Buyer”). Established in 1989 and headquartered in Louisville, Kentucky, Brasch is an experienced commercial construction company serving clients across multiple industries. The Company provides construction services ranging from site evaluation and preconstruction planning to […]
ABOUT THE TRANSACTION: U.S. Nut and Bolts (the “Company”) has been acquired by Bolts & Nuts Corporation (“Bolts & Nuts” or the “Buyer”). Headquartered in Louisville, Kentucky, U.S. Nut and Bolts operated as a full service distributor of fasteners and related products. For nearly ten years, the Company has served customers throughout the commercial, industrial […]
Many business sales occur on a cash-free, debt-free basis. However, the buyer still expects sufficient working capital to operate the business after closing. This expectation creates one of the most frequently negotiated components of a transaction: the working capital target. The target establishes the amount of working capital the seller must effectively deliver at closing. […]
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