Case Studies
J.S. Held Acquires GLI Advisors, Strengthening Our Construction Project Support Services in the Western US and Hawaii
Read MoreThe client was the largest US Manufacturer of Hot-Forged Scissors and Shears for a wide variety of markets.
Despite the positive cash flow of the Company, the business did not align with the long-term strategy of the Parent Company, which was not reinvesting profits in the business to support its growth potential. In addition, the business had known environmental issues on company-owned real estate that were being addressed over time. To maximize the value of the Parent Company’s investment and help achieve its overall corporate goals, our experts were engaged as the exclusive financial advisor to sell the business.
Our team began its due diligence, prepared a descriptive memorandum, and was ready to go to market about a month later. Prior to going to market, a customer of the business was identified as an interested buyer. We negotiated a premium purchase price in exchange for allowing a “pre-emptive” bid prior to starting the competitive sale process. The final sale price represented a highly attractive multiple of adjusted EBITDA, resulting from genuine synergies between the two companies.
When the strategic buyer expressed interest in the business, it noted that the environmental due diligence would be its top priority due to a negative experience with a prior real estate transaction. Maneuvering through the environmental due diligence issues and negotiating acceptable solutions for both sides proved challenging and nearly derailed the closing several times.
Over the course of seven months, our experts:
Joe Nappi, CTP
Senior Managing Director
Strategic Advisory Practice
+1 617 600 3602
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