Case Study

Stevenson & Company deliver on negotiation and sale of a marketing services company to a multi-billion dollar global strategic buyer.

Client
CDW Merchants, Inc.

Business category
Specialty Retail – Marketing Services

Sale background
Our client: Founded in 2005, CDW Merchants is a leader in providing innovative visual merchandising solutions and products to the specialty retail and e-commerce retailing markets. Their customers include the leading consumer and e-commerce brands throughout the United States. Their next stage of growth required expansion on a global scale into new, untapped segments.

The buyer: Bunzl Specialty Retail North America, a subsidiary of Bunzl Global, is a $7B global provider of paper, packaging and solutions to numerous industries, including retail, food and beverage, drug and consumer products. Bunzl’s strength lies in global logistics and distribution and their worldwide buying power and expertise. The company is publicly traded in the United Kingdom. The acquisition allows Bunzl to bring a new, innovative platform and business model into its Specialty Retail operation and expand its merchandising service platform globally. Cross-selling opportunities betweend the companies are also deemed as significant.

Why Stevenson & Company was retained
Stevenson & Company was retained as both strategic and trusted advisor for their hands-on style of implementing aggressive business strategy to maximize shareholder value and in-depth experience of conducting a targeted sale process. Of particular appeal was the operational experience and background of the principals at Stevenson and their track record of bringing deals to a successful completion. As a result of retaining Stevenson & Company, the owners were provided the ability to focus solely on the performance and execution of running their business, with minimal no interruption from the transaction process – which enabled them to surpass their forecasted Plan and deliver even more shareholder value than expected.

The Stevenson Advantage
Stevenson & Company used it’s expertise in working closely and confidentially with the owners of CDW Merchants to:

• Develop highly informative marketing materials highlighting the forward vision, fit and scalability of the business
• Create a compelling strategy for the synergies, market and operational strengths the combined company will serve
• Lead, manage and negotiate all aspects of the entire process through closing – informing, guiding and engaging the owners on an as-needed basis

Deal summary and results
Stevenson & Company successfully completed the sale, including:

• Negotiating a premium offer price that was more favorable than our client expected
• Retention of entire management team and organization, including favorable retention agreements
• Facilitating the closing in light of numerous obstacles that arose

Client response
Mrs. Wright commented that she was “extremely pleased with Stevenson’s guidance throughout the sale process, which turned out to be far more complex than I realized. Though they prepped me, I wasn’t prepared for the emotional ups and downs or the vast number of issues that arise during a business sale. Stevenson provided the insight, comfort and counsel I needed – and allowed me to remain focused and undistracted in my business to deliver on my promises”.