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Exclusive financial advisor to Handy Networks
Exclusive financial advisor to CoinProphet
Financial advisor to Rio Tinto
Financial advisor to SunEdison
Exclusive financial advisor to Superior Highwall Miner
Exclusive financial advisor to SpanDeck, Inc. (Mantis Cranes)
Exclusive financial advisor to Tennessee Farmers Insurance Company
Exclusive financial advisor to The Broe Group
Financial advisor to Milestone Equipment
Financial advisor to Phillips Machine Service, Inc.
Financial advisor to Project XYZ
Financial advisor to Quantum Technology Sciences
Financial advisor to TriVector Services, Inc.
Financial advisor to Two Rivers Pipeline
Financial advisor to VAR Technology Finance
Financial advisor to ZETA Pellet
A good deal gets even better with an experienced banker on your side Steve Antoline, CEO of Superior Highwall Miners (SHM), received a bid of $120 million for his mining equipment company located in Beckley, WV. He retained us to advise him on the sale. Over six months, we ran a structured auction process, and SHM closed the sale to Tennessee Valley Ventures for $150 million. That’s more than 20% higher than the initial offer. A good investment banker can add value, even if you already have a deal on the table.
An auction process can increase your price even when there’s only one bidder In some industries, there is a limited number of buyers. Bill Mitchell of Mantis Cranes experienced this when he decided to retire and sell his crane business. We ran an auction process and negotiated with the buyer to the very end of the process, even though we were dealing with only one bidder at the end. The seller was delighted with the final sales price of $37.5 million. Experience in business sales process is as valuable as negotiation experience.
Real-world valuations are critical for good negotiations We’ve performed hundreds of valuations for companies to let them know their real-world value. That is the amount an institutional investor will pay for your company this year, as opposed to IRS Fair Market Value guidelines used for tax purposes. In 2020 we were engaged by a cybersecurity firm which we estimated was worth $25-30 million. They received three bids for their firm: two at $27.5 million and one at $30 million. Those are typical results for our real-world valuation. In 15 years, we’ve never been off by more than 10%.
It is important to know when to say no Trivector services, an aerospace & defense engineering firm, retained us to advise them on the acquisition of an Israeli UAV manufacturer. After reviewing information, traveling to Israel to meet with the firm, and conducting due diligence, we unearthed concerns that would have been easy to overlook. We recommended that Trivector not pursue the acquisition. Trivector was glad to have an advisor that was willing to be honest even if it meant delivering bad news. Since then, they’ve grown into a great company with a strong future. They have also retained us on five additional occasions for advisory work.
