Valuations in Traditional Industries:
high flying technology companies often garner the headlines,
it is the traditional and basic industry companies that produce
most of the country’s gross domestic product. Advanced
Recycling, a second generation, New England-based, ferrous
and non-ferrous recycling company is a prime example. The
company prospered to the point that it had secured a profitable
niche in a strategic geographical region, thus making it very
attractive to large, publicly traded, domestic and foreign
prospective acquirers. de Visscher & Co. conducted a privately
negotiated merger/sale assignment that allowed the shareholders
to liquefy the value that they had built up in the company
at a strategic valuation. In addition to putting the Company
and the employees in the hands of a well-respected and influential
industry participant, the Principal’s remain active
in a broad management role with the acquirer. de Visscher
& Co. offers the expertise and the contact base with strategic
and financial acquirers and investors to enable its clients
to realize their shareholder value creation goals.
“The folks at de Visscher & Co. led us through the merger/sale
process from the planning stage through execution and the closing
process. We had the benefit of choice among both strategic and financial
investors which gave us the comfort that we were partnering with
the best party for our family business, our employees and our shareholders.”
Steve Cohen, CEO Advanced Recycling, Inc.
to Fund Growth
growth capital requirements demand more efficient use of bank borrowing
capacity, or changes in lending personnel or bank policy warrant
a change, de Visscher & Co's knowledge of the capital markets
and depth of contacts with lenders of all types can be a valuable
resource to closely held business owners. Such was the case for
the shareholders of the Cleveland Group, Inc. a premier supplier
of electrical, mechanical, and telecommunications construction services.
de Visscher & Co. was able to increase Cleveland's total bank
availability, lengthen its amortization periods and complete the
transaction in just over 60 days.
Family Business Transition
Visscher & Co. is expert in structuring and implementing
complex family, operational and financial transitions for
family business owners through a variety of transaction formats,
such as internal recapitalizations, private equity infusions,
and strategic partnerships.
Walter and Elaine Ullrich desired to retire from Multiplier
Industries Corp., the business they had founded in 1972, they
were concerned about their future income and their legacy,
having great pride in the company they had built into the
top supplier of rechargeable batteries for professional-grade
engaged de Visscher & Co. to achieve the shareholders’
objectives. We clarified management’s growth strategy
and confidentially generated interest in the company among
select private equity and international strategic buyers who
could most benefit from the company’s customer base.
After careful evaluation of interest from multiple financial
and strategic parties, we selected Uniross Batteries Corp.
S.A.S of France, who was building a global rechargeable business
and for which Multiplier filled a very important need for
presence in the U.S. professional market. Uniross provided
the Ullrichs with an attractive value for the business and
its employees with a bright future.
our forty years building Multiplier Industries Corp. into
an industry leader, de Visscher & Co. implemented a complex
merger of Multiplier with Uniross. I am delighted with de
Visscher’s ability to source competing offers and to
structure and negotiate this transaction to achieve our objectives.”