Project Bryant
True North Mergers & Acquisitions recently facilitated the sale of an industrial insulation distributor to a New York Stock Exchange-listed company.
This transaction reflects a growing trend in the industry, where larger firms acquire smaller ones to expand their market presence.
Recognizing this opportunity, our team developed a targeted strategy. We engaged with over 150 prospective buyers before identifying the ideal match—a buyer that met both our client's financial goals and company values. The result was a deal that closed above our client's initial target price.
Here’s how the process unfolded.
To find the right buyer, our team researched the insulation industry:
- Identifying major industry players
- Analyzing market trends
- And studying recent buyers and seller activity
This research helped us create a list of potential buyers we divided into three segments:
- Private Equity Firms: Prospective buyers who were attracted to the company’s steady revenue growth, healthy financials, operational excellence, and experienced team.
- Strategic Industry Players: Industry leaders willing to pay premium prices to achieve growth.
- Public Strategic Buyers: Companies following a “buy vs. build” philosophy and willing to pay premium prices for strong acquisitions.
With initial research complete, we were ready to begin a targeted three-step approach.
After creating audience segments, we interviewed qualified buyers. All in all, we connected with over 150 potentials.
Next, we deployed our confidential QuietAuction™ process to drive negotiations and generate multiple competitive offers.
With a final bid in hand, we completed due diligence and quality of earning analysis and engaged in touch negotiations.
Targeted Buyer Outreach
Our team launched an intensive eight-week marketing campaign targeting our three buyer segments. Instead of publicly announcing the sale, we used our proprietary QuietAuction™ process to maintain confidentiality and avoid disrupting our client’s operations.
We conducted in-depth interviews with over 150 qualified prospects, thoroughly vetting them to ensure we were targeting the right candidates.
Maximizing Deal Value
As qualified buyers emerged, so did the offers, which came in multiple rounds, creating more competition and driving up the sale price. Our team analyzed each offer, considering the price, strategic fit, and potential for future growth.
During the final phase of negotiations, an unexpected buyer submitted an aggressive offer. While this late development could have derailed the process, our team leveraged it to negotiate better terms from other buyers.
In the end, the True North Mergers & Acquisitions team facilitated a successful deal, generating multiple competitive offers. The final bid exceeded the seller’s target price and came from a buyer that aligned financially and culturally.
