March 1, 2025
One of our recent transactions involved a $38 million oil and gas service provider owned by two brothers in their mid-40s, who built the company from the ground up over the course of a decade.
A few years before reaching out to us, they attempted to sell using an industry specialist, but the process fell apart – the firm struggled to generate interest, and the few parties that did engage were not serious buyers. Worse, in every owner’s nightmare, word of the sale leaked due to a lack of process control, creating unnecessary risk for their labor-intensive business. Once it became clear that the industry specialist was not generating meaningful bids, the brothers reached out to Woodbridge. Despite believing in our overall process, they were still skeptical about their chances, thinking buyers might not be interested in a company like theirs. Still, they gave it one more shot.
After confidentially marketing the business to strategic and financial buyers, we obtained 21 bids. From that list, our team identified four top buyers for further discussions while keeping others warm. A $500 million private equity firm emerged as the best fit, positioning our client as a platform acquisition in the space with plans to expand through future acquisitions. The buyer also planned to transition the business into an ESOP structure, ensuring employees were well taken care of post-sale.
Our client ultimately went exclusive with this group, and thanks to our process, the buyer felt the pressure to get the deal done. One of the brothers, our main point of contact, was highly responsive and stayed on top of every buyer request. Due diligence was smooth, aside from a minor environmental issue, which was resolved with no impact on our client. When the business began to slightly soften, the buyer attempted to re-trade the deal, but we negotiated a fair and reasonable outcome that met our client’s value expectations. In just over seven months, we successfully closed the deal, allowing our clients to spend more time with family and explore new ventures.
Unlike industry specialists who target a limited group of buyers, we take a broad market approach – letting competition, not guesswork, determine the best fit. By casting a wide yet confidential net, we have generated an average of 25 bids for our clients over the past 12 months. As a result, 75% of our clients sell to a buyer they had never heard of before because timing is everything. By giving our clients options, choice, and leverage, we consistently meet or exceed their value expectations.