Selected Transactions
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"The team of R.L. Hulett & Company made this transaction seamless. We could never have pulled this off in such an aggressive time period without their expertise and leadership."
– Phil Horstmann, President,
Ascent Power, LLC
Ascent Power, LLC, and its parent company Ascent, are both headquartered in St. Louis, Missouri. Created in 2005, Ascent Power offers back-up power system design, battery and generators sales, as well as maintenance services to Ascent clients. When President Phil Horstmann began looking for ways to grow the company's marketshare, he contacted R.L. Hulett & Company. Industrial Engine and Generator, Inc. of Illinois was established in 1985 and provides service for a variety of applications of generator products. Assisting the buyer, R.L. Hulett & Company identified an industry and target businesses, contacted and evaluated prospects, drafted the letter of intent, assisted with due diligence, reviewed the contract, and facilitated the closing.
Delsan Industries, Inc. is a manufacturer of high quality vinyl original and replacement windows, storm doors and windows, and patio doors and accessories. The products are sold primarily to home improvement dealers and construction contractors within a five hundred mile radius of St. Louis, Missouri. Founded in 1967, the company has an excellent reputation in the industry for the quality of its products, its new product innovations, and the quality of service provided to its customers.
The buyer, Owens-Corning Corporation, based in Toledo, Ohio, generated over $3.6 billion in aggregate sales in 1995. Owens Corning is a broad-based, global organization comprised of a diverse portfolio of businesses. These businesses produce and sell products in two principal categories: building materials and composite materials. R.L. Hulett & Company facilitated the process including performing a valuation on Delsan Industries, Inc., preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, directing due diligence, reviewing the contracts and assisting in the closing.
"In a challenging business environment, RL Hulett made the sale of my business possible through dedication, persistence and professionalism. The strategic sale process is very complex and I would highly recommend engaging these skilled advisors to anyone considering the sale of their company.”
– Ray Kelly,
Secure Data, Inc.
R.L. Hulett & Company successfully originated and negotiated the sale of a custom software applications developer and enterprise solutions provider. The Selling principals have committed to stay with the firm to help facilitate the continued growth and profitability of the Company.
Secure Data, Inc., based in O’Fallon, Illinois, develops custom financial software applications for the United States Air Force under a number of long-term contract vehicles with various contracting command centers. The Company also designs and implements enterprise solutions for corporate clients to automate and integrate business processes.
Emtec, Inc. (OTCBB: ETEC), established in 1964, is a systems integrator providing IT services and products to the federal, state, local, education and commercial markets. Emtec reported revenue of $223 million in 2009.
R.L. Hulett & Company facilitated the sale process by researching the industry, writing a Confidential Offering Memorandum, contacting hundreds of financial and strategic buyer candidates, coordinating management meetings with selected prospective acquirers, negotiating an exclusive letter of intent, coordinating due diligence, reviewing the contracts and assisting in the closing. The Seller selected, and ultimately closed, a deal with the acquirer who offered the best combination of financial, cultural and strategic fits.
MidWest Nonwovens, LLC is a start-up entity formed to acquire manufacturing assets and produce thermally bonded highloft polyester nonwovens. The company's product is sold to manufacturers of furniture, mattresses, foam products, bedspreads and other home furnishings as well as jackets and apparel. R.L. Hulett & Company arranged for approximately $3.5 million in start-up financing for the entity despite a difficult credit environment where lending has tightened dramatically.
R.L. Hulett & Company helped the owners develop a business plan and financial projections and then negotiated with numerous financial institutions to obtain the best terms available for the company. The firm also helped the Midwest Nonwovens executives negotiate the asset purchase agreement to acquire the manufacturing equipment.
Corning Corporation
HPI Products, Inc. is a processor and packager of granular and liquid products, primarily for the lawn and garden industries. Established in 1980, the company's products range from Agrochemicals to specialty cleaners; in any size from one-ounce containers to fifty-five gallon drums; in any form from liquids to powders. In addition, they also provide formulation development services for creating new products. HPI Products has extensive manufacturing and warehouse space in St. Joseph, Missouri and Damascus, Georgia.
According to President William Garvey, HPI Products, Inc. needed a financial source that would provide a new line of credit of $5 million in order to continue the company's anticipated growth.
R.L. Hulett & Company, Inc. was engaged as HPI Products' financial advisor and was able to analyze the structure, prepare the financial request and help identify the lending sources.
McKay Auto Parts was established in Staunton, Illinois in 1937. As of 1998, the Company had grown to 13 company-owned stores with a distribution center and offices in Litchfield, Illinois. The company specializes in wholesale automotive supplies and parts and retail automotive parts. Jim McKay, along with the management group of McKay Auto Parts, Inc. was represented by R.L. Hulett & Company in the acquisition of McKay Auto Parts, Inc.
R.L. Hulett & Company was contacted for assistance in purchasing McKay Auto Parts, Inc. R.L. Hulett & Company assisted in negotiating the deal, assisted in arranging for the financing of the transaction, prepared an offering memorandum, drafted the letter of intent, directed due diligence, reviewed the contracts and assisted in the closing.
"We could never have done this deal without you."
Susan Dodd, President,
MCP, Inc.
MCP, Inc., including its subsidiaries, is an international wholesale distributor of motorcycle parts and accessories with $55 million annual revenue. From their headquarters in Cape Girardeau, Missouri, President Susan Dodd hired R.L. Hulett & Company for assistance in selling the company assets.
R.L. Hulett & Company assisted MCP, Inc. throughout the process, including performance valuation, assistance with due diligence, review of the contracts and facilitating the closing.
The buyer, Global Motorsport Group, Inc. of Morgan Hill, California, is the largest independent supplier of aftermarket parts and accessories for Harley-Davidson motorcycles. Global Motorsport Group, owned by Stonington Partners Private Equity, has annual revenues of $250 million.
Global Motorsport Group, Inc.
"R.L. Hulett & Company created clarity from chaos and elicited confidence while they worked tirelessly on my behalf. Their knowledge is invaluable."
Mr. David Bolus, PRN,
PRN Transcription (PRN) is a privately owned medical transcription service provider based in St. Louis, Missouri. In the business of medical transcription services, PRN has built its reputation on a solid foundation of professional integrity and the highest standards of quality. Customers include various hospital groups and medical clinics throughout the United States. Consistent implementation of the latest technological innovations allows PRN to provide the most effective and reliable records documentation in the industry. By maintaining stringent control systems over their highly qualified staff, PRN continues to provide excellent service as it has for the past thirty two years.
R.L. Hulett & Company assisted PRN Transcription in the sale of its assets to Montiel Enterprises, Inc. by performing a valuation of the company, preparing an offering memo, contacting potential buyers, drafting a letter of intent, assisting with due diligence, reviewing the contract, and helping to finalize the deal.
The Federated Software Group, based in the greater St. Louis metropolitan area, is a leading custom software engineering firm providing system development and related services to several mission critical command and control (C2) and logistical systems operated by major commands within the US Department of Defense.
Founded in 1992, the company turned to R.L. Hulett & Company for assistance in selling substantially all the assets of the business. The ideal strategic buyer was identified as The Boeing Company, the world's leading aerospace company with $66 billion in annual revenue.
R.L. Hulett & Company facilitated the process including performing a valuation of The Federated Software Group, preparing an offering memorandum, identifying and contracting strategic buyer candidates, negotiating extensively agreement and letter of intent, supporting due diligence, reviewing the contracts and assisting in the closing.
"I have not known any other organization that has shown the professionalism, class, and efficiency that is trademark of R.L. Hulett & Company. I give R.L. Hulett & Company all of the credit for making the sale of my business possible."
Harold Hogarth, Grip-Tech International, Inc.
Grip-Tech International, Inc. is an international manufacturer of sponge rubber grips. Grip-Tech, based in O'Fallon, Missouri, manufactures foam rubber products, specializing in lawn and garden grips along with grips for exercise and industrial equipment.
The buyer, Sinclair & Rush, Inc., is an international multi-faceted grip and vinyl manufacturer, with manufacturing and selling operations spanning five continents. Sinclair & Rush provides a full line of complimentary processes and products that uniquely positions itself as one of the world's leading multi-processors of plastic components.
R.L. Hulett & Company assisted Grip-Tech International, Inc. by performing a valuation of the company, contacting the buyer, drafting the letter of intent, assisting with due diligence, reviewing the contracts and facilitating the closing.
"When it came to reviewing our closing contract, R.L. Hulett & Company had the expertise and insight to make what at the time looked like some very minor changes to the contract. Four years later, those "minor" contract changes resulted in additional compensation from the buyer which were more than TWICE the amount of all fees we paid to R.L. Hulett & Company . "
John M. Stephens, President,
Media Pulse, Inc.
Media Pulse, Inc. provides high technology news tracking and video related support services for public relations professionals in the current age of video communications. Media Pulse is headquartered in St. Louis, with offices in Kansas City, Phoenix, and Indianapolis. President John M. Stephens engaged R.L. Hulett & Company for assistance in selling the company.
The buyer, Bacon's Information Inc. is a leading provider of media monitoring services and media databases. Bacon's provides an online resource for all media management needs. Bacon's Information is a subsidiary of Observer Group AB, a Swedish company with revenues over $250 million.
R. L. Hulett & Co. assisted Media Pulse, Inc. by performing a valuation of Media Pulse, preparing an offering memorandum, negotiating the letters of intent, directing due diligence, reviewing the contracts, and facilitating the closing.
"We appreciated the professional way with which our transaction was handled by R.L. Hulett & Company They took a very complex and stressful situation and made it seem very simple."
Dave Friedman,
Merit Company
Merit Company is a privately owned manufacturing business based in St. Louis, Missouri. Merit is a manufacturer of precision-machined metal and plastic components to industry. Merit uses an extensive range of machines to produce precision parts, principally for further assembly by its customers. The processes include automatic screw machines, CNC turning centers, and secondary machining equipment.
Merit Company engaged R.L. Hulett & Company for assistance in selling the company. The ideal buyer was determined to be E-M Canada, L.L.C., a diversified metal products corporation serving many industries and with operations throughout the United States and Canada.
R.L. Hulett & Company assisted Merit Company throughout the process including completing a valuation of the company, preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, coordinating due diligence, reviewing the contracts and assisting in the closing.
With 66 years of experience, Koller Enterprises, Inc. of Fenton, MO, is one of the oldest plastic product manufacturing companies in the U.S., with divisions in the lighting, pet, container, and plastic contract manufacturing markets. Koller’s division, Colorado Aggregate Company (CAC), is a 52-year-old gravel company which entered the pet market in 1986.
Clifford W. Estes Company, Inc. began 150 years ago and has become the leader in the coloring and coating of sand and gravel.
In this transaction, R. L. Hulett & Co. assisted Koller Enterprises, Inc. by performing a valuation of CAC, contacting prospects, providing information to the purchaser, negotiating the letter of intent, assisting with due diligence, reviewing the contracts, and facilitating the closing.
Commercial Fabrication, Inc. started in 1974 as a structural metal fabricator operating in Saint Peters, Missouri. It serves building construction and specialty metal fabrication industries. The Company's primary products are curtain walls for high rise buildings, staircases, iron clips, pit covers and screen guards.
R.L. Hulett & Company facilitated the process by performing a valuation of Commercial Fabrication, Inc., preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, directing due diligence, reviewing the contracts, and finalizing the deal.
Franklin Manufacturing Company, based in St. Charles, Missouri, is a privately-held manufacturer and distributor of electronic component and assemblies for the automotive, medical, telecommunications, and industrial markets. Franklin Manufacturing is an ISO-9002 certified electronics manufacturer of surface mount and thru-hole printed circuit boards, electro-mechanical assemblies, cable harness assemblies and box builds.
The buyer, Unique Mobility, Inc. is a leading worldwide developer and manufacturer of high performing, power dense, and energy efficient: electric motors, generators, and power electronic controllers.
R.L. Hulett & Company facilitated the process by performing a valuation of Franklin Manufacturing Company, preparing an offering memorandum, negotiating the letter of intent, helping coordinate due diligence, reviewing the contracts, and closing the deal.
"It was a pleasure working with R.L. Hulett & Company during the recent sale of our business. They displayed the utmost professionalism, diligent effort, and dedication necessary to meet and exceed our expectations. We credit the entire R.L. Hulett & Company staff in assisting us in this transaction."
Tim Alfaro,
Managed Care Professionals, Inc.
Managed Care Professionals, Inc., based in St. Louis, Missouri, provides comprehensive payment compliance service for health care facilities nationwide.
The buyer, F.Y.I. Incorporated, is one of the nation's fastest growing providers of document and information outsourcing solutions.
R.L. Hulett & Company facilitated the process by performing a valuation of Managed Care Professionals Inc., preparing an offering memorandum, identifying buyers, negotiating the letters of intent, directing due diligence, reviewing the contracts, and finalizing the deal.
Wood Waste Energy, Inc. provides comprehensive service to the nation's railroads for the disposal of used ties.
The buyer, RailWorks Corporation is the leading provider of track and transit systems construction services throughout North America. RailWorks Corporation was formed to capitalize on the growing need for rail construction, maintenance, and materials solutions.
R.L. Hulett & Company facilitated the process, including performing a valuation on Wood Waste Energy, Inc., preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, assisting with due diligence, reviewing the contracts and finalizing the closing.
Sterling Direct, Inc. of Earth City, Missouri specializes in developing direct mail marketing programs, primarily for financial institutions and advertising agencies. The direct mail house has ranked among the fastest-growing businesses in the country, according to Inc. 500 surveys. Sterling Direct had $13 million in revenue for 1996.
Sterling Direct requested the services of R.L. Hulett & Company to assist in the acquisition of TALX Document Services Corporation, a subsidiary of TALX Corporation.
Assisting the buyer, R.L. Hulett & Company negotiated the deal, drafted the letter of intent, helped coordinate due diligence, reviewed the contract and facilitated the closing.
Sidney Street Cafe is located in a century-old storefront building in colorful Benton Park at 2000 Sidney Street, Saint Louis, Missouri. It has been creating contemporary American and Continental cuisine since 1986. The Riverfront Times has named it number two in the area for best dinner and best overall restaurant numerous times. Gourmet magazine has named it to its list of the top 100 tables in the United States.
Owners Tom and Lisa McKinley engaged R.L. Hulett & Company to assist them in selling both the restaurant and the real estate on which the restaurant resides. The buyers are Kevin and Mina Nashan.
R.L. Hulett & Company assisted Tom and Lisa McKinley, owners of McKay Restaurants, Inc. and Sidney Street Enterprises L.L.C. for the duration of the process. This included performance valuation, directing due diligence, evaluation of the contracts and supporting the closing.
R.L. Hulett & Company successfully originated and advised in the sale of a leading, high-end fabricator and installer of stone products (marble, granite, limestone, travertine, slate, quartz, etc.) serving residential and commercial customers.
Stone Fabricators, Inc. is one of the largest fabricators in the St. Louis metropolitan area. The company has built a reputation for high quality, precision fabrication and installation among commercial and residential builders, architects, and interior designers and is one of very few fabricators to offer a one-stop-shop solution to customers with a showroom and a wide selection of materials..
The Buyer is a new entity formed by two principals who were former executives of large corporations.
R.L. Hulett & Company facilitated the sale process by writing a Confidential Information Memorandum, contacting financial and strategic buyer candidates, negotiating a letter of intent and reviewing the definitive agreements. The Seller selected, and ultimately closed, a deal with the acquirer who offered the best combination of financial, cultural and strategic fits.
"R.L. Hulett & Company, Inc. showed professionalism and expertise in the transaction process and were available when we needed them the most."
GW Composites, Inc.
GW Composites, Inc. is a manufacturer of fiberglass-reinforced plastic items such as truck body parts, agricultural equipment parts, large containers and related products for industrial and military use.
The buyer, Fibre Body Industries, Inc. is the country's leading manufacturer of fiberglass truck bodies primarily for the utility and fire truck markets.
R.L. Hulett & Company assisted GW Composites, Inc. throughout the process by performing a valuation of the company, preparing an offering memorandum, identifying buyers, negotiating the letter of intent, assisting with the due diligence, reviewing the contract, and facilitating the closing.
"R.L. Hulett & Company displayed the utmost professionalism in our dealings with Westburne. Their expertise streamlined the whole process."
Jerry Brown,
United Electric Supply
United Electric Supply, based in St. Louis, Missouri is one of the first electrical parts distributors west of the Mississippi. Founded in 1907, the company is a leading electrical parts distributor with $70 million in annual revenue, realized from eight operating branches located in Illinois and Missouri. The primary markets served by United Electric Supply include industrial, construction, and commercial building supply. To further add value to its customers, the Company complements its distribution business with 30 value-added services.
United Electric Supply turned to R.L. Hulett & Company for assistance in selling substantially all the assets of the business. The ideal buyer was identified as Westburne Supply of Canada, an international distributor of industrial supplies with $2 billion in annual revenue.
R.L. Hulett & Company facilitated the process, including performing a valuation of United Electric Supply, preparing an offering memorandum, identifying and contacting buyers, negotiating the letters of intent, directing due diligence, reviewing the contracts and assisting in the closing.
The Green Door Spa, Inc. is a luxurious day spa and salon serving the St. Louis metropolitan area and is located within the prestigious Plaza Frontenac Mall in Frontenac, MO.
R.L. Hulett & Company assisted the seller throughout the process, including preparing a valuation of The Green Door Spa, preparing an offering memorandum, identifying and contacting prospects, negotiating the letter of intent, assisting with due diligence, reviewing the contracts, and facilitating the closing.
Summit Container Company, a St. Louis manufacturer and distributor of custom corrugated boxes, has merged with Boxes of St. Louis Incorporated, a manufacturer of corrugated boxes with sales in excess of $20 million.
R.L. Hulett & Company assisted the seller by performing a valuation of Summit Container Company, identifying and contacting buyers, preparing an offering memorandum, negotiating the letter of intent, assisting with due diligence, reviewing the contracts, and assisting in closing.
"Without R.L. Hulett & Company's experience and professionalism in the transaction process, it would have been very difficult, if not impossible, to conclude this transaction."
Michael Peterson, President,
ICS Diversified, Inc.
ICS Diversified, Inc. is a leading provider of direct mail marketing and fulfillment services with sales of $5,000,000 in 2003. Founded in 1978, ICS specializes in data management, digital print, literature and promotional fulfillment, inventory management, kit assembly, and direct mail. ICS Diversified Inc. consulted with R.L. Hulett & Company in purchasing a copying, custom packaging and fulfillment business.
R.L. Hulett & Company assisted the buyer by negotiating the deal, drafting the letter of intent, directing due diligence, reviewing the contracts, and facilitating the closing.
"Without R.L. Hulett & Company, it would have been very difficult for us to have sold our business. They did a great job in locating prospects and handling the details involved in getting the sale completed."
W.R. Sweeney Manufacturing, Inc.
W.R. Sweeney Manufacturer, Inc. is a manufacturer of Sweeney's Poison Peanuts, a mole and gopher bait. This product is an effective bait and has been readily accepted in the marketplace. The Company sells to national, mass merchandisers including Home Depot, Wal-Mart, Lowe's and Ace Hardware outlets. W.R. Sweeney Manufacturer was founded in 1892.
The buyer, Finney enterprises, Inc. will continue the operation of the business in St. Louis, Missouri.
R.L. Hulett & Company assisted W.R. Sweeney Manufacturer, Inc. by performing a valuation of the company, preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, directing due diligence, reviewing the contracts and assisting in the closing.
When the Spanos family sought to purchase Concord Sports Club, Inc., they requested assistance from R.L. Hulett & Company to provide the expertise to complete the transaction. Concord Sports Clubs, Inc. is a sports and fitness recreational complex located in St. Louis, Missouri.
R.L. Hulett & Company provided the Investment Banking services of assisting in the negotiations. R.L. Hulett & Company, Inc. is an Investment Banking company providing services in mergers and acquisitions, financing, valuations, strategic planning and litigation support.
"Without the expert advice and assistance of R.L. Hulett & Company this transaction would not have been possible. With their help we found a buyer within the industry who truly understands our business."
Ronald Earll,
Earll Construction Company
Earll Construction Company, Inc. is engaged in general contracting of free standing, retail buildings with a client base of national chain stores in the service segment, principally restaurants, auto service sectors, and dry cleaners. This operation generates annual construction revenues in the $4-6 million. Established in 1991, Earll Construction is located in St. Louis, Missouri.
Earll Construction Company engaged R.L. Hulett & Company to assist with the selling process.
As part of the sale process, RL Hulett completed an evaluation of the business, identified potential buyers, negotiated the sales price, assisted with due diligence, reviewed the contracts, and helped close the deal.
Valley Farm Dairy Company was engaged in the wholesale distribution of dairy and food products in the St. Louis metropolitan area with annual revenues of approximately $21 million. Valley Farm distributed a variety of perishable food items such as milk, ice cream, cheese, meats, poultry, pasta, fresh produce and bread.
Crown Foods, L.L.C. distributes fresh meat, seafood, poultry and other food items with annual revenues of approximately $80 million.
R.L. Hulett & Company assisted Valley Farm Dairy Company by completing a valuation of the Company, preparing an offering memorandum, identifying and contacting buyers, negotiating the letter of intent, directing due diligence, reviewing the contracts and assisting in closing.
"The R.L. Hulett & Company was very professional and extremely competent and helpful to us with the sale of All Staff Nursing. I have been recommending the company to other business owners and will continue to do so."
Leon Spanos,
All Staff Nursing
All-Staff Nursing, Inc., located in the St. Louis metropolitan area, specializes in supplemental staffing for long-term care. Founded in September of 1990, much of their business consists of supplying Registered Nurses, Licensed Practical Nurses, and Certified Nurse Assistants to their clients, primarily nursing homes. The company works to fill the temporary needs for healthcare workers while focusing on valuable communications with clients and on the high quality of its employees.
R.L. Hulett & Company assisted All-Staff Nursing, Inc. by performing a valuation of the company, preparing an offering memorandum, identifying and contacting potential buyers, negotiating the letter of intent, assisting with due diligence, reviewing the contract, and closing the deal.