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MERGERS AND ACQUISITIONS
The descriptions that follow are intended to illustrate the types of transactions that have been completed, either as the Principal Negotiator or the Manager of a group:
- National Business Brokers and as Consultant. Note: The past endeavors have been full time and part time as circumstances allowed.
- $9 million to $11 million. Current assignment, sale of manufacturing company in Florida, representative of seller. As of January 2011, three offers pending.
- $5 million. Current assignment beginning autumn 2010. Distributor of truck-mounted equipment, manufacturer of equipment. Minnesota. Under contract.
- Interim full-time assignment, June 2007-2010: Manufacturer, intermediate term consulting agreement. Asked to increase sales and tripled sales in six months. Assisted in locating permanent investor which was completed in early 2010.
- $350,000. December 2008. Purchase of assets, manufacturer, for client, another manufacturer. Sole Broker.
- $425,000. Summer 2007. Sale of Assets, Construction company, Kansas City, MO. Sole Broker. Buyer tripled sales; EBITDA in 2009 more than double the purchase price.
- $110,000. November 2006. Sale of Assets. Limousine Company. Subsequently, July 2007, renegotiation of carry back debt. Sole Broker.
- $1.4 million. September, 2006. Sale of Assets. Laundry and Dry Cleaner with 4 locations. Included some real estate. Sole Broker.
- $494,000. Feb, 2006. Sale of Assets. Cruise and Leisure travel company, Topeka, Co-broker. Actually, my only substantial contribution to this deal was listing it and finally figuring out how to advertise it.
- $400,000. January, 2006. Capital Injection. Construction company. Sole Broker.
- $115,000. September, 2005. Trucking company, St. Louis. I had sold this company to the Buyers in 2004. Sole Broker.
- $105,000. June, 2005. “Popcorn stand.” Small distributor of popcorn products and gift sets. Sole Broker.
- $375,000. January, 2004. Sale of Assets. Manufacturing company (Victaulic fittings) in Iowa. Sole Broker. Offer received eight days after listing, closed in 45 days of that. To this day, I have not met the buyer.
- $250,000. March, 2004. Sale of Assets. Manufacturing company (Snowplows) in South Dakota. Sole Broker.
- $150,000. July, 2003 and January 2005. Sale of Assets, twice. Franchised business that repairs dental handsets. First Buyer wanted to return to corporate environment. Sole Broker, both events.
- $515,000. September, 2002. Sale of Assets. Tunnel car wash. Co-Broker.
- $515,000. March, 2004. Sale of Assets. Re-sold the Tunnel car wash for the Buyers who purchased in 2002. Co-Broker.
- Buyer Search. Performed several buyer searches for specific acquisition targets from 2002 through 2005. Helped a manufacturing firm in Colorado in its acquisition of a metal fabrication line that would be counter-cyclical to its main product. Other individuals in Washington, DC and Kansas City.
- Midwest Capital Group, a subsidiary of Midwest Energy Company (NYSE), now MidAmerican Energy owned by Berkshire Hathaway/Warren Buffet.
- $8 million. Acquisition of major oil drilling program with Alexander Energy Company, Oklahoma City, a NASDAQ firm and served on Board of Directors from 1988-1993 when the Company was sold.
- $5 million. Acquisition of majority equity position in Chicago Central & Pacific Railroad, Waterloo, IA as an economic development investment, served on Board of Directors from 1986-1990
- $18 million. Acquisition of Century Contractors West, builder of power plants, particularly natural gas fired co-generation plants, such as the Paris TX plant owned by Tenaska, Inc. of Omaha.
- $50 million. Sale of Assets of propane subsidiary (Minnesota, Wisconsin and Sarasota, Florida) to a firm that was attempting to become a significant industry participant in the Northern Plains.
- $2.5 million. Sale of Assets of fuel oil distribution company and C-stores in southwestern Wisconsin to an individual. That was in 1989, and in 2009, that individual retired, sold the company after a very nice career, and closed in the remediation wells that we had installed after 20 years.
- $2.8 million. Sale of Assets, the Holiday Inn State Capitol, St. Paul, Minnesota.
- $4.0 million. Sale of Assets, the home office building of Donovan Companies, St. Paul, MN.
- $1.2 million. Purchase of preferred stock in pet food expansion, eventually sold to major brand for $3.0 million.
- $75,000. Sale of industrial land. Sold property in Gateway Office Park, the first major economic development project in Southeastern South Dakota to Gateway Computers for their first owned building.
- $25 million. Tax Exempt borrowing. Formed a South Dakota Community Improvement District, issued Special Assessment Bonds, and served as Chairman of the CID from 1990 to 1993.
- Miscellaneous. Managed Midwest Energy’s economic development efforts in Iowa, South Dakota and Nebraska. Worked closely with Governors Terry Branstad (Iowa), George Mickelson (and Bill Janklow) (South Dakota), Kay Orr (Nebraska) and their staffs. Purchased 31 parcels of land now known as Dakota Dunes through “straw man,” hired and managed the design staff and coordinated golf course design with Arnold Palmer, and accomplished the funding and layout of an Interstate highway interchange. Reported directly to Russ Christiansen, President and CEO of Midwest Energy.
- As part of the initial development of Dakota Dunes, discovered that about a third of the development was in Nebraska due to boundary established in 1903 as the center of the Missouri river. The river channel was changed during the 1950’s. Accomplished the change in the state boundary between South Dakota and Nebraska, coordinated passage through SD Legislature, NE Unicameral and United States Congress.
- Miscellaneous. Coordinated the company’s efforts to save a failing railroad that served the whole northern part of Iowa. Received a call from then-Secretary of Transportation, Elizabeth Dole who graciously thanked me, personally, for my efforts to achieve this victory for economic health in Iowa.
- Solo Energy Corporation.
- Developed SEC materials and Offering Circular in anticipation of “Round B” and “C” financing.
- Testified to California Legislature with resulting passage of SB 28x, a bill that allowed “offset” pricing to the grid of on-site generation.
- Developed complex, interactive computer models to determine economic viability of projects using accurate, real-time utility rate information.
- Developed a corporate finance model incorporating actual project economics to projected income statements and balance sheets over 3 to 5 years.
- Security National Bank of Sioux City.
- Investment funds. Set up and managed funds, similar to mutual funds, for Trust department clients. Stock funds achieved results in excess of the markets for every year, 1975-1982.
- Served as the Municipal Securities Rulemaking Board Principal and Broker for the bank’s bond underwriting activities.
- Organized several loans as Industrial Development Bonds.
- Took a department with $10,000 in annual commissions to $130,000 in commissions in the first year.
- Negotiated the Penn Square loan collections. While this well-documented fiasco spelled failure for the Continental Bank of Illinois and Seafirst Corporation of Seattle, we collected all of our principal and half of the interest on these troubled loans.
- Final assignment for this bank, the largest in western Iowa, was serving as Senior Vice President in charge of commercial, correspondent and mortgage lending and bank investments.
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