Advantage Mfg. Technologies Sale to Medin Technologies
| Client | Advantage Manufacturing Technologies, Inc. is a Monroe, Washington-based contract manufacturer of spine and orthopedic implants and instruments |
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| Ownership | Sole owner founded the business and served as its President until sale |
| Buyer | Medin Technologies, Inc., a portfolio company of Seven Point Equity Partners, a Westport, Connecticut-based private investment firm concentrating on control equity investments in lower middle market companies |
| Transaction | Asset purchase and assumption of certain liabilities; Seller rolled some portion of his proceeds into Buyer’s equity |
| Consideration | Cash |
| Valuation | Undisclosed |
“I retained Kinsella Group to represent my Company in sale. Bob Kinsella led the effort generating six offers leading to a successful transaction closing. Bob’s deep knowledge of the medtech contract manufacturing sector was critical to finding qualified buyers and negotiating the final terms. I’d recommend Kinsella Group and Bob Kinsella to anyone considering sale.”
- Dave Parsons, Owner, Advantage Manufacturing Technologies, Inc.
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Situation Review
- KGI was engaged by AMT to conduct a sale process
- Lender encouraged the sales process
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Transaction Process
- KGI prepared a Confidential Information Memorandum and contacted ~60 prospective buyers with industry familiarity
- 21 prospects signed NDAs seeking access to the CIM
- Seven indications of interest were received, leading to five management meetings
- Three letters of intent were received and negotiated leading to due diligence and sale
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Outcome
- Seller’s expectations were achieved with receipt of cash at close, an employment agreement and release of all guarantees and obligations
- Buyer serves the same industry as Seller and sees significant cross-selling opportunities
- Buyer and Seller attend the same trade shows and will combine exhibit space