Here is the MiBiz Growth Report for March 20, 2017:
• M&A: Grand Rapids-based fuel distributor Crystal Flash Inc. has expanded its geographic footprint into Southeast Michigan with the acquisition of Adrian-based Lenawee Farm Bureau Oil Cooperative, which has more than 500 customers. Two employees will stay on with Crystal Flash, according to a statement. Terms of the deal, which was finalized this month, were not disclosed. Lenawee County Farm Bureau Oil Cooperative serves agricultural, commercial, construction and home heating oil customers. Grand Rapids-based Charter Capital Partners served as financial adviser to Crystal Flash on the deal. The employee-owned company employs 250 people at 15 locations in Michigan.
Fuel distributor Crystal Flash Inc. has expanded its geographic footprint into Southeast Michigan with a new acquisition, its tenth since 2011.
Attorneys working in the field of M&A like to say that there’s a story behind every transaction. That notion was on full display at last night’s MiBiz M&A Deals and Dealmakers of the Year Awards held at the Studio D2D in Grand Rapids. A common theme among the winners and finalists was a desire to preserve the culture of a company created by the sellers, even as the firm went through the transaction process.
When Tom Fehsenfeld decided to retire from the family business he led for the past 40 years, he found himself in a position familiar to many manufacturers exploring succession options.
Buying or selling a business or putting together a major deal is not the time to get cheap.