Specialized Ocean Engineering & Related Services
Summary
Find a buyer in a specific business niche to continue the growth of the business.
Subject
For two decades, this north-west US-based marine engineering firm established and expanded its services to capture global projects and long-term government contracts, including ocean engineering, critical infrastructure protection and marine renewable energy. The staff of 40 engineers worked on these projects from conception to completion.
Challenge
Assist business owners in finding the next generation of leadership for their niche business, while remaining viable for small business contract work and not overlapping services which could reduce the business’s perceived value. The business owner was open to referrals since the current legal and tax advisors were not familiar with the merger and acquisition of specific transactions.
Outcome
Freeman Lundt caught the perfect buyer who was in the same industry, but a different segment. Since the two companies were similar in size and scale but varied in the work they offered, the merger created a company that could complete a project start-to-finish and work on a spectrum of projects in their industry.
As a bonus, the business owner now holds a long-term profit-sharing arrangement as a result of the merger.
Freeman Lundt referred to legal and tax advisors who created the successful structure and closing of the transaction.
