Case Study: Phoenix Electric
Background:
Based in Hutto, Texas, the company was founded in 1986 by a single owner and grew to serve clients throughout the state of Texas. The owner had groomed a CEO that was ready to take the reins and sought a financial partner to buyout his interest for retirement.
Focus Strategies Service:
Focus Strategies was engaged by the company to pursue a full or partial sale of the business and worked in lock-step with the owner and heir apparent as they assembled a confidential information memorandum and data room. The company was marketed to an audience of more than 150 private equity groups and received multiple Letters of Intent (LOIs) to acquire the business. Focus Strategies arranged ownership meetings for the interested groups and negotiated the details of the LOI. Ultimately, the owner picked the preferred group based on cultural fit above the highest price.
Outcome:
The deal closed on time, and both parties were pleased with the results of the process. The owner valued the relationships the vast network Focus Strategies brought forward in the process that enabled the company to pick from multiple groups. The company is thriving and continues to grow through organic growth and acquisitions.