Your professionalism and honesty greatly impressed me. You always focused on me and my needs. You asked questions on my behalf that I never thought of asking. You made me feel that you would not pursue the deal unless it was the right deal for me. You negotiated superbly and I know both sides of the deal felt good about the transaction. I would recommend you to any business owner looking to achieve their goal of selling their business.


Mike Salvagno, President
The Cambridge Group LTD

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The Cambridge Group

Assembling a Strong Team of Advisors Leads to Critical Deal Success

 

The Challenge

The Cambridge Group LTD is a mid-market pharmaceutical and information technology outsourcing group of companies located in Connecticut and Pennsylvania. The companies were run separately. One was a “C” corporation, the other an “S” corporation. The owner had identified four major goals for an eventual sale: a cash purchase, a high valuation, a strong cultural fit and tax minimization. It was important for the owner to feel comfortable with the acquiring organization due to his desire for continued employment following the sale. Finding a strategic buyer that would fulfill all the owner’s goals presented a number of challenges. Lyons Solutions LLC was retained as a Merger & Acquisition advisor to help the owner achieve his goals.

The Solution

The owner wanted an acquisition advisor with a strong commitment to representing sellers as well as a comfortable working relationship based on respect and honesty. Lyons Solutions, LLC fit these criteria and began the engagement by performing an in-depth analysis of the companies and the owner’s personal, financial and business goals. We developed a customized marketing package that clearly spelled out the companies strengths and initiated a focused marketing campaign. After receiving a number of offers from potential buyers, the owner settled on a public company buyer that allowed him to fulfill all his goals and the buyer’s offer was accepted. Due diligence began, the economy quickly weakened and stock prices crashed.

The Result

Following a steep stock price decline, the buyer withdrew the offer for the companies and our client decided to take the companies off the market. We helped our client assemble a strong team of advisors and with patience and persistence were able to get the buyer back to the negotiation table at a later date. Even though an initial agreement was reached on a deal, changes in our client’s volume and profitability necessitated renegotiating the terms of sale with the buyer. The transaction was completed five months following the buyer coming back to the negotiation table. Our client received an all-cash transaction with significant upside potential. The companies were split in to three segments, each matching one of the public company’s divisions. Our client took over management of one of the combined operating segments. The mission was accomplished to the satisfaction of both parties.

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Letter of Recommendation Download PDF


Dear Jack,

I want to thank you and Bill for assisting me in achieving my goals. Your professionalism and market knowledge are tremendous. Your contact base which is critical is superb. My process with On Assignment took years and I was fortunate to have you as an advisor.

Your professionalism and honesty greatly impressed me. You always focused on me and my needs. You asked questions on my behalf that I never thought of asking. You made me feel that you would not pursue the deal unless it was the right deal for me. You negotiated superbly and I know both sides of the deal felt good about the transaction.

You and Bill are a great team. Bill did a superb job facilitating all the numbers, a job that seemed never ending. You helped me assemble an incredible team of advisors, accountants, attorneys that made this work. As you know, I did not have the right advisors in place when the conversations first started. My long term advisors were out of their league and they could not respond to the requests that were generated and that cost me. Thankfully you kept the process going as we assembled our "dream team".

Jack, I would recommend you to any business owner looking to achieve their goal of selling their business and I appreciate your professionalism and friendship through this complicated process.

Warmest regards,
Mike Salvagno
President
The Cambridge Group Ltd.