Headquartered in Elkhart, Indiana, and with five other production facilities, Wells Cargo is the premier designer and manufacturer of cargo trailers. The Company sells its products through a network of exclusive dealers. Jeff Wells had been contacted by numerous parties over the years and was contemplating the sale of the company.
Universal Trailers headquartered in Cincinnati, Ohio, is a leading manufacturer of cargo and specialty trailers. Universals majority shareholder is Corporate Partners, LLC, a strong and creative private equity firm headquartered in New York, NY.
Challenges
Mr. Wells was over sixty years of age and, although the operating management was strong, there was no clear successor to run the business.
The Company leased production facilities from Mr. Wells. Accordingly, the optimal transaction was with a party would continue to lease the facilities.
The credit markets were extremely difficult for all potential acquirors.
Accomplishments
Legacy ran a highly confidential, targeted process that attracted numerous financially viable potential acquirers.
Legacy was able to facilitate financing for the acquiror, despite the difficult financing environment.
Legacy was able to negotiate strong value for Mr. Wells.
Legacy negotiated lease agreements for the five productions facilities owned by Mr. Wells.
