After the shocking and tragic death of its owner Steven Fischer, Fischer’s executor of his Estate looked for help to sell the company and came to SealedBid. The deal required many complicated negotiations due to the nature of the industry and was ultimately sold to five separate acquiring companies.
The sales process can be challenging even when everything is progressing as planned. But what happens when a disruptive event — like a sudden health crisis — intensifies the challenge? David Sundet, the owner of Minnesota-based Goodall Manufacturing, found himself in just that quandary when he decided to sell his company.
HM Cragg is a Minneapolis-based company that sells, installs and maintains backup power systems and products for clients who need continuous power, such as those in the telecom, medical, utility, commercial and hospitality industries. HM Cragg’s products include uninterruptible power systems, industrial generators and battery backup systems.
Kenway Engineering, Inc. (“Kenway”) designs and manufactures HVAC systems for off-road equipment manufacturers in industries like agriculture, mining and construction. If you could make a fantasy wish list for the sale of your company, it would probably include: a potential buyer who just pops up one day; a fast, easy sales process; and a price even better than you hoped. All these wishes came true for the owner of KenWay, Ken Detloff.
When Lyle Stevermer was approached about the sale of a product line, he sought professional representation through SealedBid. The buyer, a South Korean based distributor, was anxious to acquire Lyle’s line of measuring wheels. Despite thousands of miles and language and cultural barriers, SealedBid was able to successfully negotiate a satisfactory transaction for Lyle and Meter-Man.
When Scott Schneekloth had a health scare, he and his wife decided to sell Midwest Fire & Equipment, a Southern Minnesota based fire aparatus manufacturer. Once engaged, SealedBid targeted a list of both strategic and financial acquirers throughout North America. For more information on how SealedBid completed a successful business and real estate transaction for the Schneekloths.
Thermo-Tech produces premium vinyl windows and doors that provide superior insulation against heat and cold. This family-owned business was established by the Ferkinhoff brothers in 1993, and did well over the years. However, last year the three brothers agreed that it was time for them to reap the rewards of their hard work. They decided to sell Thermo-Tech, and had definite goals for the sale.
V-TEK, Inc. is a manufacturer of precision packaging, inspection and bond testing equipment for the electronics industry. V-TEK has been an important part of Mankato for over 30 years, and both Dennis and his company are well-known and well-respected in the area, and the industry at large.
When Tim Talbot, a partner at Waltek, began searching for merger and acquisition (“M&A”) representation, he found that most M&A and Investment Banking firms considered his company too small to represent. Tim was pleased to discover SealedBid, which specializes in providing top tier intermediary services to lower mid-market companies. After a successful marketing campaign, Jerry Clark and the SealedBid Transaction Team were able to negotiate a price far exceeding the firm’s expectations.
‘Deal fatigue’ is the weariness business owners feel when sale negotiations go on longer than expected. Phil Staat and his business partner Jim Lally had to overcome unusual deal fatigue to sell their Wisconsin-based company, Great Northern Cabinetry (“GNC”). GNC makes custom kitchen and bath cabinetry that it sells through a nationwide dealer network.
Dan Charbonneau, president and owner of CBT Nuggets, Inc., did not initially plan on selling his company, but decided to retain SealedBid after receiving multiple unsolicited offers. The growing company had attracted the attention of multiple strategic acquirers, but at the end of the day Dan did not feel the larger companies were a good fit. SealedBid suggested the possibility of a financial partner and worked to source quality Private Equity Groups interested in CBT Nuggets.
Ten years after founding Dyne Technologies, Joan Leedy approached SealedBid to sell her business and planned on transitioning to other opportunities. SealedBid designed a go-to-market strategy around Joan’s primary concern, her employees, and specifically targeted strategic companies and a select group of financial acquirers. After receiving an abundance of interest, Joan was able to choose from a number of quality buyers, maximize value and maintain an ownership piece going forward. To read more about how SealedBid facilitated a recap of Dyne Technologies, and a win-win sale for Joan.
HH Auto Wheel & Trim is a Minneapolis-based business that sells a huge selection of OEM auto wheel products – hubcaps, rims and more. HH Auto Wheel & Trim opened in 1971 as a traditional brick and mortar business, but the company embraced the internet revolution and established an online presence in 1996 and has since transitioned into a purely E-Commerce concern.
RIE was a promising small company that applied protective coatings to equipment parts used in the wind energy, solar, agricultural and heavy equipment sectors. They had enjoyed strong growth in recent years, making it a potential acquisition candidate for investors. However, RIE’s four owners had differing plans for the future of the company. The SealedBid team was able to help RIE’s owners to reach a compromise that satisfied everyone in the form of a recapitalization.
It’s a difficult time for most businesses when the founder passes away; but when that founder is the designer of the company’s first product and its sole financial backer, the loss is challenging indeed. That’s the situation that Minneapolis-based KA Medical, LLC (“KA Medical”) found itself facing when its celebrated founder, Dr. Kurt Amplatz, passed away in 2019.
Fourteen years ago, Dan Charbonneau sold a majority interest of his company as part of a recapitalization, or “recap” sale. Charbonneau’s goal was straightforward: he wanted to realize some of his profits, but still wanted to stay on as CEO of his company, the Eugene, Oregon-based CBT Nuggets (“CBT”). After liquidating his majority interest in CBT, Charbonneau chose to stay on as CEO to guide the company and capitalize on its continued growth.
Sometimes all the stars seem to align just right for the sale of a company: the parties get along well, a mutually beneficial agreement is struck, and the company thrives going forward. That was the case for the Minnesota-based Dyne Technologies, LLC (“Dyne”) and its founder, Joan Leedy. Leedy built Dyne up to a successful concern, but by 2013 she decided that the time was right to move on to the next stage. The people who bought (the company) at Expertus have grown it. They’ve accomplished most, if not all of their objectives as well.
Jeff Roberts, former president of the Wisconsin-based Harvest Tec, Inc. (“Harvest Tec”), now spends three days out of his week at a local state park, but he isn’t hiking or winter camping. Roberts volunteers to help maintain the park grounds from inside a snow grooming machine. He’s well-qualified to operate field machinery as he was a farmer before founding Harvest Tec in 1976. With the help of Jerry Clark and the SealedBid Transaction Team, Roberts sold Harvest Tec to the Colorado-based Droplet Measurement Technologies in 2021. Droplet is a portfolio company of Benford Capital Partners, a Chicago-based private equity group. Roberts says that the sale brought him full circle.
With the help of SealedBid’s Transaction Team, Donaldson sold MyTana to Envirosight in July of 2017. MyTana is a manufacturer and distributor of cleaning tools for the sewer and drain cleaning industries. The buyout also helped spur the growth that Donaldson wanted for MyTana. Donaldson was ready for the change. He says that he’d come to a fork in the road with his business.