San Diego, CA, United States– Vanguard Resource Group, a full service business brokerage and appraisal firm, recently facilitated the sale of a local industrial fastener company to a Canadian private equity firm.
When United Fastener, a San Diego based distributor of fasteners, decided to sell, they engaged Vanguard Resource Group to sell their business.
“It’s not often we get a chance to represent a 42 year old industrial products company, especially one that has been family owned and passed from father to son. We felt honored to have been entrusted with the sale of the family’s biggest asset.” stated Bill Lange, Managing Principal of Vanguard Resource Group.
When marketing the business, Vanguard Resource Group identified several potential buyers. But in the end, the seller felt the best combination of price and terms came from a Canadian based private equity firm. While being the first acquisition in California for a private equity firm was not easy, the parties and their attorney’s worked closely together to facility both a good transaction and a well thought out transition plan.
While the details of a private business sale is not public information, VRG reported that the transaction value was in the range of $1-5MM.