Too good to sell
A Western Australian owned business focusing on the repair and maintenance of mobile mining equipment was referred to us and asked us to sell the business. We provided advice on how to improve their business to make it more attractive to buyers, which increased the value of the business from $14 million to $20 million. We then sold a 25% share for $5 million, and the owner decided this gave him the best of both worlds. He accepted the profits and kept the business, which was now better managed and making more money.
A few years later, we were appointed to identify acquisition targets in the USA. We did so but none were a perfect fit and the owners decided to set up from scratch. The new business in the USA is going well.
Following that, the owners appointed us to sell the business for $50 million. We employed a direct marketing strategy and secured an offer of $65m. The owners decided to keep the business which is now valued at over $200m and are looking at taking it to the share market. In the space of eight years, this business went from a valuation of $14 million to over $200 million. We like to think we played an important part in this journey!
Part retirement beckons
After trying to sell before with other brokers, a couple with an optometry business were referred to us. We valued the business and through direct contact marketing secured a strategic buyer for exactly what we asked for the business. The sellers were delighted and continue to work two days a week and take extensive holidays. The new owners then came back to us and bought another optometry business from us. They are very happy with both businesses.
I never wanted to be in this business
The son of the owner of a $4.5 million battery manufacturing business was referred to us. He had ended up in the family business when his father had suddenly taken ill and was still there 10 years later! He wanted to do other things with his life and the family had agreed to sell the business. We appraised the business and through direct contact marketing secured an interstate buyer who purchased the business and the property. This pleased both the sellers and the son, who continues to work in the business as an employee.
The value in identifying the strategic buyer
A large public listed business wanted to exit a non-core division of the business. They were referred to us to manage the sale. On a normal return on investment basis, the business would have fetched around $200,000. By careful analysis of strategic buyers, we identified a New Zealand business in need of the customer relationships the business had secured. They paid nearly $1.6 million for the business. Both parties are extremely happy with the result.
American international buys local business
The owners of a substantial country-based pest control business were referred to us to sell their business. Through direct marketing we identified a large American public listed business that wanted to expand into Western Australia. We secured the sale after a number of conversations with the Atlanta-based head office team.