“Lyons Solutions’ consulting helped us to improve our profitability and make us more attractive to the market. They subsequently found us a number of options for either equity investment or selling the company. We were able to increase our value enough to meet our initial goal for cash in the bank, and still own half the company. We look forward to more flexibility in our personal lives while continuing to participate in the future of the company.”

Ted Ballou, CEO
Nurse Connection, Inc.


_____________________________________________________________

Consulting Significantly Increases Valuation and Creative Search Uncovers Uniquely Tailored Solution


The Challenge

Nurse Connection, Inc., a health care staffing firm, had been a leader in the South Florida market for a number of years. It had a long history of reasonable growth, but gross margin was lower than other competitors in the market. The company also had limited depth of management. The owners wanted to find a way to improve the value of the firm, find some relief for their personal lives and preserve the reputation and relationships with staff and clients that they had developed over the years. Lyons Solutions Mergers & Acquisitions was retained as Merger & Acquisition advisor by the owners to develop exit planning strategies that would allow them to meet their personal, financial and business goals by Merger and Acquisition.

The Solution

Although a number of options were pursued with national and regional buyers or private equity funds, the owners chose a team of successful entrepreneurs who offered substantial capital, hands-on management, and were willing to partner with the owners to grow the company. The owners were able to take a significant sum of cash at closing while retaining half of the firm to take advantage of strong future growth potential.

The staff was retained following the sale and the investors developed an incentive plan in conjunction with the original owners to help the team to achieve their collective goals. Our clients remained owners and involved in operations--but have a more flexible schedule to better deal with family issues.

The Result

Lyons Solutions pursued this option while keeping other options open. With patience and persistence, the buyer ultimately made an offer. Initial agreement on a deal was reached but internal changes within our client necessitated renegotiating the offer in favor of an all-cash transaction with options for potential upside. Our client gained access to additional web-enabling and wireless technology and has a vehicle for domestic and international expansion with a company willing to invest in their growth. The angel investor cashed out and the operating partners have attractive salary, bonus and option packages going forward as well as no financial risk.