Recent Transaction Closings:
$5.7 Million Sale & $7.2 Million Financing of Acquisition: Industry Leading Finishing Trades Contractor
Mid-States ran parallel processes of locating buyers and funding for the acquisition of the business. The company's current lender declined to provide the financing for the acquisition or to continue providing the working capital. Mid-States worked closely with the Sellers and Buyers to negotiate the sale, locate acquisition and working capital loans, and managed concurrent due diligence processes to bring the transaction to a close. Mid-States worked closely with the Buyer's and Seller's legal counsel to review all sale and funding documents and to facilitate the closing.
$1.5 Million Working Capital Line for Industrial Control & Panel Shop
Mid-Stats replaced the company's high-cost factoring facility provided by a hostile lender that was initially unwilling to release its collateral. We worked with multiple lenders to facilitate the best proposal. The result was a closing with a lender that reduced the cost of funding by roughly 80%. It also provided additional working capital to provide for future growth. Mid-States worked closely with the company's staff and the lender's due diligence and closing team to facilitate a smooth closing. Mid-States assisted corporate counsel to facilitate the exit from the hostile factoring relationship, negotiate loan documents, and bring the transaction to a close. This transaction was closed in the middle of the Covid-19 pandemic.
$2.25 Million Refinance, $600 Thousand Bridge Loan
After a government contractor fell out of favor with their existing lender they contacted Mid-States to assist in locating new funding or would be forced to liquidate or sell to a competitor. Within 30 days Mid-States brought a viable term sheet to replace the funding. After contacting the existing lender Mid-States realized the relationship was not salvageable to bridge to closing and immediately located a $600 thousand bridge loan from a private lender. That funding bridged to the closing of the commercial loan in the middle of the Covid-19 pandemic. Mid-States also assisted the company in sourcing PPP and EIDL loans.
Sale of Commercial & Residential Carpet, Tile, Upholstery Cleaning & Repair Company
After failing to sell the company to various interested buyers, the Seller engaged Mid-States to act as Exclusive Seller Representative. Mid-States worked with the Seller and the company's CPA to develop reconstructed earnings to justify the sale price. Mid-States was able to locate multiple qualified buyers and offers. Mid-States also introduced the lender to the Buyer and assisted in the financing to facilitate a smooth closing. Mid-States worked closely with Seller's counsel to develop the sales documents and bring the transaction to a close. This transaction was completed in the early stages of the Covid-19 pandemic.
$7 Million Sale of a Financial Advisory Firm
After years as the premier advisor in its space the owner was seeking to retire. Being a highly specialized business meant that there needed to a be strategic fit to ensure the future of the company but also to maximize the sale price.
Mid-States acted on the Seller's behalf in locating the ideal buyer, assisted in the due diligence process, and worked with a group of skilled valuation, tax and transaction professionals to complete this engagement.
$3.5 Million Dollar Closing
Mid-States Advisors is pleased to announce it acted as advisor to the buyer in the purchase of a Michigan based Plating business. We worked in collaboration with a group of skilled tax and transaction professionals to complete this complex assignment. The purchase of the business and all assets served to facilitate the retirement of debt by the seller.
As usual, it takes a team to get the job done right!
$32 Million Dollar Closing
Mid-States Advisors is pleased to announce it completed financings totaling $32 Million dollars for two related entities that provide value added commodity management services with a focus on the automotive and manufacturing industries. The companies have operating locations in the US, Canada, and Mexico.
The previous lender had requested that our client find another lender. These profitable companies anticipated revenues of approximately $165 million and implemented a growth and diversification plan. We solicited and received multiple proposals from lenders interested in establishing a relationship with these growing businesses.
$4 Million Closing
Mid-States Capital acted as an adviser to the buyer for the purchase and financing of a non-automotive investment-casting firm.
Mid-States Advisors is pleased to announce it completed financings totaling $32 Million dollars for two related entities that provide value added commodity management services with a focus on the automotive and manufacturing industries. The companies have operating locations in the US, Canada, and Mexico.
The previous lender had requested that our client find another lender. These profitable companies anticipated revenues of approximately $165 million and implemented a growth and diversification plan. We solicited and received multiple proposals from lenders interested in establishing a relationship with these growing businesses.
$4 Million Closing
Mid-States Capital acted as an adviser to the buyer for the purchase and financing of a non-automotive investment-casting firm.
