Noble Composites is headquartered in Goshen, Indiana and is a leading manufacturer of premium quality sidewalls for the recreational vehicle industry. Although Noble is less than seven years old, it had built a state-of-the-art manufacturing facility and provided superior quality products at competitive prices. Noble sold its products to Class A, B, C, and fifth wheel RV manufacturers.
Crane Co. is a diversified manufacturing company whose composites division is a significant supplier to the recreational vehicle community.
Challenges
Several key shareholders desired retirement while wanting to maximize value, liquidity, and wealth diversification.
Other key shareholders were essential to the operation of the business and desired senior management positions going forward.
The company operates solely in the highly cyclical recreational vehicle industry.
Due to rapid growth, the company needed to expand its plant in order to provide capacity for growing demand.
Results
Crane Co. was identified as the buyer that offered the best strategic fit for the business. Crane had financial resources and strategic motivation necessary for a successful transaction.
Legacy’s senior partners negotiated strong economic value for the shareholders, favorable employment agreements, retention bonuses, and worked with company’s counsel to negotiate favorable contract terms.
Legacy’s senior partners worked closely with the company’s personnel throughout the marketing, negotiation, due diligence, and closing of the transaction in order to minimize business disruption and increase the probability of a successful close.
