Stevenson completes the sale of Designed Equipment Corporation
Result: Business Sold to Entrepreneur
Industry: Industrial Services – Scaffolding & Rigging Company for Building Construction
Stevenson and Company recently completed the sale of a closely-held construction equipment and services company to a private buyer with senior operating experience. Our client is a leading supplier of powered scaffolding and related products to the construction and maintenance markets.
The company leases, sells and installs scaffolding and rigging to the construction industry in Chicago and the Midwest. Its equipment has been used on some of Chicago’s premier buildings, such as the John Hancock Building, One First National Plaza and the Aon Building.
Stevenson contacted over 160 industry and private equity buyers in this engagement. It received a number of offers and ultimately attracted a buyer who purchased the company and injected additional equity into growth opportunities.
Both the company’s previous owner and its new owner are extremely pleased with the transaction. All of the employees have been retained. The company’s sales and profits have increased significantly since the purchase.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!