Benchmark International is pleased to announce the sale of Jack Lilley Limited to the Lind Group Holding Company Limited.READ MORE >>
The UK biscuit industry is crumbling; slowing sales, intense competition and an increase in the price of sugar and wheat have hit the sector hard. Not to mention the pressure from the vast range of new and healthier products that are available. As a result, the UK sweet biscuit market, valued at £1.9bn, is experiencing a flurry of deal making.READ MORE >>
Earlier this month, the health insurance organisation Cigna Corp. announced the termination of its $54bn merger agreement with insurance company Anthem Inc. The deal has taken a further complicated turn, after Cigna announced that it had filed a lawsuit against Anthem seeking a $1.85bn termination fee, plus a staggering $13bn in damages. In an interesting twist, Anthem has launched its own lawsuit against Cigna, claiming the company has sabotaged the merger in its attempts to breach the agreement and collapse the $48bn deal.READ MORE >>
As we all know, EBITDA is not defined under either accounting’s Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). What’s worse is that there is no other evenly mildly authoritative source that delves into the specifics of the definition beyond much more than a one-word description of each letter’s meaning.READ MORE >>
Benchmark International is proud to announce that it has placed top of the North West Financial Adviser table for the second consecutive year in Experian’s annual North West and Manchester Corporate Finance Review.READ MORE >>
The mega-merger between chemicals and seeds producer DuPont and chemical corporation Dow is now expected to close later than anticipated. The $130bn deal has encountered a roadblock as the companies face further regulatory approvals, which means that this is now the second occasion the deal’s completion date has been pushed back.READ MORE >>
They say that you either love it or hate it, but Marmite has been at the centre of a dispute between one of the UK’s largest supermarket chains and the suppliers of the distinctly British condiment. The feud escalated last year after Tesco refused to agree to Unilever’s price increases, however the dispute was resolved in October and Marmite was back on supermarket shelves. But now, the supermarket giant’s £3.9bn takeover of wholesaler Booker is expected to reignite Tesco’s feud with Unilever as critics argue the deal will create an incredibly dominant player in the sector.READ MORE >>
Ealrier this month, The Information reported that Airbnb is in talks to acquire social payments start-up Tilt, a move that would allow the users of the home share service to split the cost of their trips.READ MORE >>
READ MORE >>
We’re just over a month into 2017 and already rumours are circulating about a magical mega deal set to take place this year. Despite the lack of evidence to back-up a Disney acquisition of Netflix, there has been much discussion throughout the industry about whether such an acquisition can and will actually happen.
Benchmark International is pleased to announce the sale of Signalhome Limited to Lynx Private Equity.READ MORE >>
Benchmark International has successfully facilitated the asset sale of Forward Ventures, Inc. (“Forward Ventures”) to Powerhouse Equipment and Engineering Co., Inc. (“Powerhouse Equipment”). The transaction unites two market leaders in the boiler sales and services industry.
Forward Ventures, based in Gastonia, North Carolina, has been providing high quality boiler equipment and services across the southeastern United States since 1971. The company specializes in the service, sales, and installation of boilers and boiler room equipment throughout the region. For over 40 years, Forward Ventures has been committed to providing its clients with the highest level of boiler services and industry-leading technology.
Powerhouse Equipment, headquartered in Delanco, New Jersey, sells new and used boilers and provides boiler services to companies across a wide range of industries, with a focus on industrial and heavy commercial businesses. The company offers its products and services internationally, and partners with leading manufacturers to satisfy the needs of companies worldwide.
Tyrus O’Neill, Director at Benchmark International, said, “It was a pleasure to represent Forward Ventures in this transaction, and on behalf of Benchmark International, we are extremely pleased with the outcome. Achieving our client’s goals and objectives regarding their exit strategy has been a thoroughly satisfying experience and we wish both parties the best of luck moving forward.”
Sunny Yang Garten, Senior Associate at Benchmark International, affirmed, “We have really enjoyed working with our client, Tom Goldner, and the rest of the Forward Ventures team. At the end of the day, we believe our client found the perfect fit to carry on the company’s legacy within the industry.”
Forward Ventures, Inc. President, Russell “Tom” Goldner, stated, “I was extremely pleased with the overall experience provided by Benchmark International’s transaction team. I believe we found the best acquirer for our business to continue to build on the platform that has been created. Thank you to Benchmark International for the extraordinary effort in helping facilitate this deal.”READ MORE >>
Benchmark International has successfully negotiated the sale of Nefco, Inc. (“NEFCO”) to North American Filtration, Inc. (“NAF”). The transaction represents the conjoining of two leaders in the water and wastewater treatment industry.
Based in Palm Beach Gardens, Florida, NEFCO has been a major provider of engineered fiberglass products to the water and wastewater treatment industry since 1993. The company designs and develops unique baffle systems, launder cover systems for algae and odor control, as well as effluent troughs systems, weirs, scum baffles and other treatment plant infrastructure.
For over 20 years, NEFCO has been committed to finding innovative ways to improve productivity in municipal, industrial water and wastewater treatment plants worldwide. With a current presence throughout the United States and Canada, NEFCO remains dedicated to continuing improvement and growth.
Based in South Carolina, NAF was founded in the late 1970’s. While a number of the NAF family companies operate in the wastewater treatment space, the NAF family continues to grow each year through new acquisitions of other industry-leading providers. NAF currently employees over one-hundred employees across four locations, and has recorded thousands of installations on six continents.
Benchmark International’s Trevor Talkie acted as the lead on this transaction and was successful in pinning down the needs of both parties involved, “Benchmark’s ability to create a competitive bid process for our client was instrumental in this transaction.” Talkie stated, “On behalf of Benchmark International, achieving our client’s goals and objectives regarding their exit strategy has been a thoroughly satisfying experience, and we are extremely pleased with the outcome.” Director, Tyrus O’Neill, added, “Earle [Schaller] has built a tremendous business, and it is clear that NEFCO is a perfect fit for the North American Filtration portfolio of companies. We would like to take this opportunity to wish both parties the best of luck moving forward.”
NEFCO, Inc. President and Founder, Earle Schaller, stated, “Benchmark International’s hands-on approach during all aspects of the transaction process was fundamental in our successful deal closing. I would like to thank the transaction team at Benchmark International, for without the diligence and dedication of each member there, we strongly feel this end result could not have been achieved.”READ MORE >>
Benchmark International has successfully negotiated the sale of Charron Sports Services, Inc. (“Charron”) to Corvus Industries, LTD. (“Corvus”).
Based in Liberty, South Carolina, Charron is an industry
leader in the installation, maintenance and restoration of aluminum bleachers, telescoping bleachers (gymnasium bleachers) and other seating. The company’s other offerings include basketball backstops and other various gym equipment items.
Since 1991, Charron has been committed to providing reliable and dependable bleacher repair services to some of the Southeast’s largest schools systems. Since inception, the company has grown from a small family business to a profitable venture. The company’s technical knowledge, experienced staff, and professionalism not only ensure client retention, but foster additional growth opportunities within the industry.
With operations dating back to 1973, Corvus is recognized nationally as a major player in the bleacher repair and maintenance space. Bleachers are considered a great liability for institutions, and Corvus has been dedicated to ensuring that bleachers are safe and current with the latest safety codes. Today, Corvus industries is further expanding its geographic presence with the strategic acquisition of Charron Sports.
Tyrus O’Neill, Director at Benchmark International, stated, “It was a pleasure to represent Charron Sports in this transaction, and on behalf of Benchmark International, we are extremely pleased with the outcome. Allowing both the seller and acquirer to prosper and benefit is always an ideal end result.”
Senior Associate, Trevor Talkie, added, “We have really enjoyed working with our client, Maury Purcell, and bringing to the table a company that very closely represents Charron’s ideal candidate in terms of corporate culture and values. Overall, this has been a thoroughly satisfying experience and we wish both parties the best of luck moving forward.”
President and Founder of Charron Sports, Maury Purcell, stated, “Benchmark International played an instrumental role in facilitating a transaction quickly and fairly. I would like to thank the Benchmark International transaction team for the extraordinary effort in representing Charron Sports in this deal. We strongly feel this end result could not have been achieved without the help of each member there."READ MORE >>
Benchmark International has successfully negotiated the sale of Skillets, Inc. (“Skillets”) to Rosser Capital Partners (“RCP”).
Based in Naples, Florida, Skillets has been the staple upscale breakfast and lunch restaurant for both the local community and tourist population since 1995. The company’s owner, Ross Edlund, began his career by owning and operating a successful chain of pastry shops during the 1970’s and 1980’s. Today, Ross can be found at one of the five different Skillets locations, with a sixth to be opened in the Fall of 2016.
For over 20 years, Skillets has been committed to serving only the highest quality ingredients, paired with excellent customer service. With a current presence throughout the Southwest Florida region, Skillets, along with its new partner RCP, remain dedicated to providing an industry-leading level of service and quality while taking the classic breakfast and lunch restaurant to new heights.
Based in Greenwich, Connecticut, RCP is an investment firm with a focus on investing in small to mid-sized restaurant, consumer and retail companies that demonstrate significant potential for growth. Over the last 20-plus years, the principals of Rosser Capital Partners have completed 25 transactions including 18 in the restaurant industry. Some of the firm’s current investments include Barteca Holdings, Hickory Tavern, and PetPeople.
Tyrus O’Neill, Director at Benchmark International, stated, “It was a pleasure to represent Skillets and Ross Edlund in this transaction, and on behalf of Benchmark International, we are extremely pleased with the outcome. Allowing both the seller and acquirer to prosper and benefit is always an ideal end result.”
Senior Associate, Trevor Talkie, added, “Skillets is an excellent addition to the growing portfolio of RCP investments. At the end of the day, we believe our client found the perfect fit to carry on the company’s legacy within the industry. Overall, this has been a thoroughly satisfying experience and we wish both parties the best of luck moving forward.”
Skillets, Inc. President and Founder, Ross Edlund, stated, “Benchmark International’s hands-on approach during all aspects of the transaction process was fundamental in our successful deal closing. Tyrus O’Neill and his team did an outstanding job of putting together a comprehensive, attractive presentation of Skillets, lined us up with first rate legal counsel, and very quickly identified a motivated buyer within two weeks of initial marketing. Overall, RCP is an ideal candidate in terms of corporate culture and values. We appreciate our many loyal Naples guests and look forward to offering the same hospitality and culinary excellence they have come to know as we move forward in this exciting chapter.”READ MORE >>
Benchmark International is pleased to announce the sale of Malcolm Hughes Land Surveyors to the Ogilvie Geomatics, a part of the Ogilvie Group.READ MORE >>
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.”READ MORE >>
Political and economic uncertainty caused pharma M&A to slacken off in 2016, seeing deal values in the sector falling to $273.7bn from $392.4bn the previous year. While 2016 was far from catastrophic for pharma M&A it failed to reach the all-time highs achieved from the mega-deals in 2015, and the collapse of the $160bn mega-deal between Pfizer and Allergan was just one of the year’s setbacks for the sector.READ MORE >>