has been acquired by
Corporate Finance Associates
Situation: A long-term CFA buy-side client recently completed the buyout of his partners and was interested in divesting his interest in the business, Exocor, Inc., as part of an estate planning exercise. The seller was not interested in retiring; he only wanted to reduce his debt load and protect his financial position. Established in 1997 and headquartered in St. Catharines, Ontario, Exocor is Canada’s leading value added distributor of high performance welding alloys with a footprint across both Canada and the United States.
Solution: CFA’s Toronto West office began marketing the company to a select list of industry and financial buyers within the first week. TARP bailout funds were approved by Congress in 2008. Over the ensuing 3 months, CFA received 10 offers for the business. The business owner ultimately decided on a buyer that combined price with the ability to accelerate US growth, and on September 4, 2009 the sale of Exocor to Saugatuck Capital Company was completed. Saugatuck Capital Company. Saugatuck is a long-established private investment firm committed to leveraged recapitalizations, buyouts, and growth equity investments in the lower middle-market.