Wallboard Building Supply Company announced the acquisition of their companies by two private equity firms located in Boston and New York. The Company is a distributor of building materials to the New England market.
Mr. John Filion, President of Wallboard Supply Company comments, “Within 6 months after engaging with our M&A Advisor they brought us 7 offers from both strategic corporations and private equity groups. We were amazed to see offers coming from some of the largest global players in the industry. Our $35 million dollar company had an offer from a two billion division of a much larger company!”
According to Mr. Filion, “We ended up getting an offer that was about 50% over the offer what we were entertaining before our M&A partner got involved. The offer accommodated the individual needs of the four owners while funding the company’s substantial growth requirements. I don’ think that we could have found a better buyer. My advice to any business owner thinking about selling is ‘Don’t go it alone’. Selling a business is a tough process that requires some serious expertise. There is no doubt in our minds that the expertise we received from Mr. Waxler and team was top notch.”
The deal, funded by New York and Boston based private equity groups, “received numerous offers from both large multi-national strategic buyers as well as mid-size investment groups ”, according to Mr. Scott Waxler, Managing Partner of Lockebridge, LLC, a Boston based Mergers and Acquisitions advisory firm. “It was a difficult deal due to a few factors: