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| Client: |
Technical Concepts, L.P. ("TC ") |
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| Purchaser: |
Liberty Capital Partners ("Liberty") and members of the senior management team |
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| Business: |
Headquartered in Mundelein, Illinois, TC is the world's leading designer and manufacturer of touch-free automated products used for hygiene and odor control in "away-from-home" restrooms including state-of-the-art automated air fresheners, faucets, flushers, toilet cleaners, soap dispensers, and other products, which together comprise TC's "Touch-Free Restroom of the Future." |
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| Client Objective: |
To sell TC for a full price, in a timely fashion, with minimal disruption to the business, and maintain the highest level of confidentiality throughout the process. |
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| Results: |
BGL advised TC to approach a handful of financial acquirers and two non-competing strategic acquirers with a pre-established purchase price based upon a high multiple of the Company's pro forma EBITDA. This fixed price and highly targeted approach streamlined the sale process, minimized disruption to the business, and maximized confidentiality. While nearly all targeted buyers submitted Letters of Intent at or near the stipulated price, Liberty's offer was chosen due to its unique appreciation of the Company's business, its ability to independently finance an all-cash purchase at the stipulated price, and its creative inclusion of TC's management in the transaction. |
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