Maine Business Exchange

In this case, 2,472 miles to be exact!

We approach the sale of our client’s business as a process – one covering all the bases to be successful.  It starts with the most fundamental aspect of a comprehensive marketing plan by developing a profile of the most likely buyer.  It’s the old adage, “The right buyer will pay the right price.”

We are pleased to announce the acquisition of Riverside Cartop Carriers, a Portsmouth, NH-based manufacturer and distributor of outdoor sports accessories, by Seattle Sports, Inc.  Riverside pioneered the development of cartop carriers for the canoe and kayak enthusiasts, and for the last 25 years Riverside’s products have dominated that segment of the market, as the first, and still the leading brand in the market.

Seattle Sports, Inc. a leading manufacturer and distributor of active outdoor sports  equipment and accessories came to CBI through our direct contact after I traveled to Salt Lake City to attend the industry’s largest Outdoor Sports Show.  While there, I was able to visit with most of the companies in the field, gain an understanding of their current product lines, and determine which of the many companies in attendance would be the most likely buyers for this product line.  I was able to identify nearly 50 companies I believed could be convinced of the benefit of this acquisition.

With that buyer profile in hand the next step was to analyze our client’s customer base to determine the incremental contribution to gross profit this acquisition would bring to a target company.  In the case of Riverside and Seattle Sports, they shared some customers but it was clear that adding each other’s to the mix would greatly expand Seattle Sport’s market penetration though a product line extension and leverage off of Riverside’s 25 year sales history.  Relationships matter, and after 25 years Riverside had developed strong and profitable relationships with some of the nation’s largest outdoor sports retailers.  Those relationships, intangible as they may be, were key to attracting the level of interest we achieved and ultimately led to the successful conclusion of this transaction.

Expert analysis of our client’s company, identifying the intangible value drivers that will come into play in a transaction, and negotiating a complex acquisition agreement between two of the largest active sports manufacturers, are all part of the process that sets us apart.  It’s all about “going the extra mile” for our clients; even when it means 2,472 miles!

Maine lost a visionary entrepreneur this week with the tragic death of Taylor Griffin, President of The Rogers Collection.  Taylor was noted throughout the food industry for his achievements in bringing luxury foods of distinctive quality to the American table. 

The Rogers Collection is known especially for its imports of olive oil, cheese and ham produced in Italy and Spain by family-run companies committed to traditional production methods.  These companies, and the foods they produce, reflect the passion that Taylor had for fine food and wine, and were in demand by top chefs and gourmet food retailers throughout the country. 

 In 2006 Food and Wine Magazine recognized Taylor as “one of 15 spectacular talents who have changed the world of food and wine”.

I was honored to have worked with Taylor Griffin and Dick Rogers, founder of The Rogers Collection, when Taylor took control of the company in 2003.

 INTERNATIONAL EXPERIENCE & EXPERTISE

Encore Electronics, Inc. is a leading designer and manufacturer of specialized electronic products used in a wide variety of engineering, industrial and technology applications including aircraft engine, automotive and turbine testing, power generation and aerospace electronics.  When it was time to sell the company, the owner and founder retained CBI as he recognized we were the only regional business brokerage company operating in New England with the capability of attracting international attention. 

After completing our analysis we identified several operating companies, both private and public, along with private equity groups, all with an interest in acquiring this successful company.  Our network of 10 company owned offices in New England and our sister company in Atlantic Canada provided the springboard necessary to attract the “right” buyer.  ESTec Systems was the successful target.

ESTec Systems is a publically traded Canadian company headquartered in Edmonton, Alberta.  The firm is a leading forensic and mechanical design engineering company focused on the petrochemical, mining and construction industries. 

When speaking of this acquisition Anthony Nelson, President of ESTec stated: “The acquisition… provides a platform for greater vertical integration with ESTec’s existing business.  It gives us an electronics design and manufacturing capability that can dramatically enhance our market opportunities.  Moreover, we gain new US based major corporate customers with global operations and sales opportunities….”

Whether your business is local or international in scope, there is only one New England business broker with the capability of reaching buyers from across the world.  In recent years we have successfully attracted buyers from as far away as England to Hong Kong, and throughout Canada.  

 Edmonton, Alberta, Canada

 Has acquired

Encore Electronics, Inc.

We represented Encore Electronics throughout this transaction

We are proud of our track record, bringing successful companies and highly qualified buyers together just as we did for Encore Electronics and ESTec Systems.  Our record of success speaks for itself – 35 years and still New England’s leading business broker.

If you are interested in learning more about our brokerage service contact me directly to arrange a confidential meeting.  As the principal broker of the oldest and most successful brokerage firm in New England I welcome the opportunity to work with you to achieve your goals.

Congratulations to Blue Sphere Energy Solutions, LLC of North Haven, CT. on their acquisition of R. H. Price & Co., Inc. of Searsmont, Maine. R. H. Price is one of Maine’s leading innovators of “green technology” for both the residential and business sectors.  The Company focuses on providing energy solutions using cutting edge technology including proactive energy conservation methods.  R. H. Price is certified by the leading industry organization as a leader in conservation technology using products proven to be effective and safe for the environment.  Blue Sphere Energy Solutions came to Maine as they recognized the opportunity to make a positive impact on energy consumption leveraging on R. H. Price’s 35 year history of success.

R. H. Price & Co., Inc.

If you are interested in learning more about our brokerage service contact me directly to arrange a confidential meeting.  As the principal broker of the oldest and most successful brokerage firm in New England I welcome the opportunity to help you achieve your goals.

Congratulations to Mike Cote and Look’s Gourmet Foods and Bar Harbor Foods in Whiting Maine, on their honor of being among the 5,000 fastest-growing companies in America, according to Inc. Magazine’s annual ranking of private companies based on growth.

At CBI we are proud of our track record, bringing successful companies and highly qualified buyers together just as we did for Mike Cote and Look’s.

Working with founders and their families we assist business owners in developing an exit strategy to meet their needs in a highly confidential manner.

When you are ready to buy a successful company like Look’s Gourmet Foods/Bar Harbor Foods we may have your solution, or if you are considering the sale of your business we can help you hit the sweet spot, just as we did for the former owner of Look’s and these other satisfied clients.

All businesses are offered through Country Business, Inc.  Since 1976, New England’s only regional business broker with results that speak for themselves.