Electric Product Supplier Acquisition - May 2016

Don Rudnik

Location: Detroit, Michigan
Industry: Electric Product Supplier Acquisition
Revenue: $10 Million annually
Line of Credit: $2,500,000 Revolving Line of Credit
Collateral: All Asset Borrowing Base, $1,900,000 Accounts Receivable, $1,750,000 Inventory

The American Dream
The individual was seeking an acquisition of a company that could best use his sales ability for himself instead for someone else. The seller was second generation that enjoyed first generation hard work and sought to retire. The company supplies the Midwest annual of $10 Million per year but sales were falling more to neglect than other factors. Sterling had approached the buyer once before but the bank decided to liquidate instead of sell in that case.

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