Select M&A Transactions

Company Situation:

Lile Moving & Storage offers a full suite of residential, commercial, corporate, and specialty relocation services, including local, long–distance, and international moving, storage and warehousing, logistics, and employee relocations.
Lile is a second-generation company and has been in business since 1959. The Company operates 8 locations across Oregon and Washington comprising of +500K square feet of warehouse space and 200+ vehicles.
The owner was interested in a transaction that would continue operating the business while helping facilitate retirement.

Process:

Lile engaged Bracken Lane for a “targeted process”, focused on a “handful” of established West Coast operators who would value Lile’s geography positioning and hard to replicate infrastructure.
During the process, substantial due diligence requests were made (employees, customer contracts, real estate agreements). Bracken Lane worked closely with the Company to satisfy the inquiries.

Outcome:

Lile Moving & Storage was acquired by Olympic Moving and Storage. The combined company will be well positioned to continue serving customers across the Pacific Northwest and will operate 18 locations.

Situation:

The Company is a leading asphalt paver serving utility, municipality and commercial customers throughout California.
Owners were looking to transition the business and to start their retirement.
In the previous 12 months, Owners had received other offers, which consisted of unfavorable terms & structure and didn’t assign value to the growth the company was experiencing.
The Company maintained a strong position in their geography and had grown to ~60 employees while doubling their revenues.

Process:

After reviewing the Company’s situation and owners’ goals, Bracken Lane recommended a national focused process, targeting lower-middle market private equity firms and strategic acquirors.
It was important to the owners that a buyer would continue the employee culture and legacy, while maintaining their customer-first operations.

Outcome:

The Company was well received by the market, and Bracken Lane obtained multiple indications of interest for the company at higher valuations and with more favorable structures than previous offers.
A national paving company was selected as the preferred partner based on a shared vision for the company, and a deep understanding of the company’s market and potential.
Both Buyer and Seller expect the management team and go-to-market strategy to continue into the future.

Situation:

LUX Dynamics manufacturers specification-grade, LED high bay lighting fixtures with a focus on designing and engineering premium fixtures for “hard to light environments.”
LUX Dynamics differentiates its fixtures through an emphasis on durability, high-lumen output, color rendering and high-quality uniform lighting.
Owner leads R&D, while his wife leads the Company’s day-to-day operations. Transaction goals included diversifying their wealth and finding a partner to help accelerate the Company's growth strategy.
Owner was considering a lighting focused industry M&A advisor but hired Bracken Lane based on its materials’ quality and conflict-free approach to industry participants.

Process:

The Company had several company specific attributes that needed to be explained and positioned correctly with potential investors. These included an intricate go-to-market strategy, technical product differentiators, and new product lines that were in their “early stages.”
Based on the owner’s goals, Bracken Lane ran a “targeted process” that included high-quality industry strategics and lower market private equity firms who focused on value-add niche manufacturing.
The process resulted in bids providing different structures (majority vs. minority equity, flexible debt capabilities, and the use of operating partners.)

Outcome:

LUX Dynamics chose to partner with Rock Island Capital based on their shared vision of the Company’s growth trajectory, RIC’s value-add support and desire to maintain company culture.
Post transaction, owners and management retained their roles with the company.

International Test Solutions is a high growth, high margin business and a leading global supplier of highly engineered materials used to optimize semiconductor testing equipment.

Company had received 2 unsolicited offers in the $60M range. Owners felt offers were low, and engaged the principals at Bracken Lane Partners to design a process and market the company.

Spent significant time with management preparing the story to best position the platform.

Worked with management to articulate their growth trajectory and build a defensible strategy for newer products and initiatives

Launched a “full-process” targeting industry strategics and PE firms who are focused on specialty materials and chemicals

Ultimately sold to CMC Materials, a publicly traded strategic firm, for $125 million in cash.

Paragon Bioteck, Inc. is an eye-care focused drug development company, having a primary emphasis on the early detection of ocular diseases.

Owner was interested in selling the company and engaged the principals of Bracken Lane Partners to design and execute a sale process.

Spent significant time with company to prepare “story” and financial model that reflected the current approved drug products as well as the robust pipeline drugs.

Prior to launching a full process, “checked in” with a large strategic company in the industry. They had an interest in the approved drugs, but not the pipeline.

Ultimately split the company up and sold the approved drugs for cash, and retained the pipeline drugs for future development.