SOLD: Medical Device Test Equipment Manufacturer
About The Opportunity
- Specializing in design, manufacture, and service of instruments used to test critical care medical devices, which are used to save lives in over 30 countries around the world.
- Products are used in both manufacturing verification testing and engineering design verification testing. No FDA approval needed for their products.
- In operation over 30 years, Company has established itself as a world renown leader in their market.
- Two sellers - one was looking to retire; the other wanted to stay involved with business for next 5 years and accepted an employment agreement with the Buyer.
Other Important Information
“If anyone asks me whether hiring a broker was worth it, I would tell them, without a doubt, hiring ECG as our broker was worth every penny. There is no way we could have handled this transaction on our own, and we both felt like we had the best team (ECG) on our side.
I would recommend that anyone looking to sell their business consider working with ECG.”
-Steve Royce, Seller
Noteworthy Transaction Points
- The transaction closed in 4 months. Took to market in April and closed in August 2020.
- Business was acquired by a heavily capitalized strategic partner who will grow the brand into a lasting legacy.
- Purchase was an all-cash offer with no Seller Carry Note.
- Sold for 3x avg SDE.
- Sale price was within 1% of the estimated valuation.
- Sale met the needs of two very different Sellers.
- Both Sellers received an excellent employee/consulting package post-close.
Volume of Buyer Interest
- ECG utilized video CIM for marketing on the Exio platform.
- Business was marketed to over 3,500 potential buyers.
- ECG corresponded with 133 buyers, of which 123 signed an NDA.
- Received three LOIs and ultimately settled on the best acquisition match for Sellers.
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