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Client:
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Thompson Industrial Services is a U.S.-based outsourced provider of industrial cleaning services to Fortune 500 customers in a variety of process industry sectors. It offers standard and specialty services from seven regional branch offices utilizing a large, valuable fleet of industrial cleaning equipment and vehicles that can require investments nearing $1 million for a single unit.
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www.thompsonind.com
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Transaction Summary:
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Brookwood Associates advised the shareholders of the Company on the sale of its industrial cleaning services division to a middle-market private equity firm.
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"Brookwood runs a disciplined process with high attention from the Managing Director. I could not imagine going through this process without them. Most importantly, the results have greatly exceeded my expectations.“
- Greg Thompson, Chairman, CEO,
and majority stockholder
Thompson Industrial Services
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Transaction Highlights:
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Effective Positioning – After conducting thorough due diligence, the business was positioned through (i) emphasizing the company’s market leadership, (ii) demonstrating the recurring nature of its revenues, (iii) communicating a credible growth plan in the face of high capital expenditures, and (iv) showcasing the Company’s operational strength in fleet management and organizational integration across seven branch office locations.
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Strong Marketing, Qualification, and Negotiation Processes – Beginning with a large target list of potential acquirers, Brookwood efficiently contacted and qualified the most attractive candidates to meet with management, resulting in several compelling offers for the division. Working with management, we selected the best candidates considering valuation, offer structure, financing, risks to close, and cultural fit. Finally, Brookwood negotiated improvements in the terms of the leading offer and worked closely with the Company and its legal advisor to close.
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Result – The transaction exceeded our client’s valuation expectations by a double digit percentage, and also met his desire for a cultural fit with the new owners.
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