Benchmark International facilitated the transaction of The Common Source, located in Houston, Texas. They were acquired by the Aureus Group out of Colorado.
The Common Source, founded by Ann Zdansky in 1997, provides comprehensive information management services to legal firms through their proprietary document review platform. The Aureus Group is a tech focused company.
Benchmark International added value by negotiating, on the seller’s behalf, the most aggressive terms allowing the seller to retain assets that would not be used by the buyer moving forward. Also, negating an equity position for the seller and key employees in the new company was criteria because it allowed all parties to participate in the upside and ensure that they had a say in the company post-closing. This also allowed the seller to remain on board in an advisory role in Aureus. The cultural fit was the number one priority. The Common Source was a very family friendly business and the employees were treated as family by the seller so it was important that a similar culture that would continue post close.
The founder commented, “It was very important that we found someone that would continue the company. Not just come in and say that they were going to buy the company then come in a fire people and sale the equipment…and where just interested in our clients and list of potential clients. It had to be someone that was going to keep as much staff as possible and continue what was started. Benchmark was able to provide the buyer that met [these] needs…and to maintain the level of service for our customers was important as well.”
Senior Associate, Luis Vinals commented, “Benchmark International added value negotiating the asset deal. We saw throughout the deal process that the buyer, Aureus Tech, would acquire all the assets and not continue running a portion of the business that was not related to the existing services. With this knowledge, we were able to negotiate a deal that allowed the seller to retain assets related to a division that the buyer did not current operate or anticipate operating moving forward allowing the seller to obtain the best deal within the open market.”
Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkCorporate.com
Europe: Carl Settle at +44 (0)161 359 4400 / Settle@BenchmarkCorporate.com
Africa: Anthony McCardle at +2721 300 2055 / McCardle@BenchmarkCorporate.com
About Benchmark International:
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximizing solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $6B across various industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 12 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.