Deal History

Sale of 50+ employee family dairy operation (second-generation cousins Loren and David Athman) to Spring Valley, Wisconsin-based Advanced Dairy West. Both companies authorized DeLaval dealers. Two-year process navigated COVID supply chain challenges. All 13 employees retained. Transaction closed November 10, 2022. Advisor: Brent Engelbrekt.

Sunbelt facilitated the sale of Franklin Street Bakery (125 employees, operating since 1994) to Taylor, Michigan-based Michigan Bread. Combined organization rebranded as The Good Bread Company with 300 employees. All 125 Franklin Street employees retained. Advisors: Kirill Graminschi, Dan Mulvaney.

Multi-million-dollar acquisition of award-winning housewares design company (20-year history, started in founder's basement) by Madison Lake, Minnesota-based Nifty Home Products. Deal closed September 30, 2021. Advisors: Michael Slater, Kirill Graminschi.

Sunbelt facilitated acquisition of ROVUX Footwear (footwear company founded by 24-year-old entrepreneur) by Blitz Innovation of Fountain City, Wisconsin. Deal closed October 8, 2021. Advisor: Doug Pedersen.

Sunbelt provided advisory services to Granite Water Works (providing plumbing and sewage system solutions since 1990) in sale of substantially all assets to Core & Main (NYSE: CNM), national specialized distributor with 320 locations. Transaction finalized December 4, 2023.

$3M sale of 20-year tax, bookkeeping, and advisory practice to national private equity group. 4.4x Adjusted EBITDA multiple, 1.5x Revenue multiple. 42 buyer showings, multiple offers, closed in 110 days. Large percentage cash at close with earnouts over two years. All three partners remained involved post-close.

Sunbelt served as exclusive financial advisor to IT Assist, the largest TeamLogic IT franchise operator in greater Philadelphia metro area, on its sale to Salt Creek Capital, a San Francisco Bay Area private equity firm. Transaction closed June 17, 2020. Advisors: Brent Engelbrekt, Kirill Graminschi.

True North M&A and Sunbelt Business Advisors advised Fargo Engineering, an automated test systems and services firm serving complex industrial goods manufacturers, on its sale to Legacy Ventures Group, a Minneapolis-based private equity investment group. Lead advisor: Jeff Mills.

Sunbelt facilitated sale of Garfield Truss Systems (8 employees, operating since 1976) to Ramsey, Minnesota-based private equity firm Oxford Group. Company scored 20/25 on Oxford's proprietary acquisition rubric. Former owners providing transitional leadership for 3 years. Deal closed July 30, 2021. Advisors: Mike Wheelock, Nacia Dahl.

Sunbelt facilitated the sale of Eull's Manufacturing, the Midwest's largest producer of concrete manhole rings and exclusive Redi-Rock licensed producer for Minnesota, to Minneapolis-based private equity firm Solheim Investment Partners. Second- and third-generation family members transitioning after 59-year history. Advisors: Rick Elliott, Kirill Graminschi.