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Fuse Networks Case Study
Fuse Networks has been acquired by Management

Transaction Description:

Technology Media & Communications

Case Study

The Challenge

- The client was a middle-market Managed Services Provider of outsourced IT, integration, and network management services.
- The four shareholders intended to gain liquidity through a majority recapitalization.
- The company’s shareholders looked for a complete sale of the company, with one critical shareholder planning to continue with the company post-transaction. This would allow for continued success and expertise under a new owner, while this shareholder guided operations.

The Solution

- The challenge the Merit Investment Bank team faced was to quickly pivot the transaction approach to successfully execute the liquidity event while internal issues severely impacted the ability to retain outside buyer commitment.
- Additionally, the company held high customer concentration, increasing perceived risk and drastically lowering the company’s valuation.
- Throughout the sales process, the Merit Investment Bank team had to also contend with a lack of cooperation and cohesion between shareholders, requiring increased focus and tenacity as an advisor. The situation heightened the need for intensity, insight and creativity by the Merit Investment Bank team, shifting the transaction strategy to a management-buyout.
- The deal team extracted value from the company by helping the continuing shareholder pivot the business, creating a long-term solution to recover from the roadblocks that arose from the misalignment of original shareholders.

The Results

- In the end, the continuing shareholder successfully transformed operations and transitioned the business into a more manageable and profitable model.
- With this new management structure, the main shareholder was able to make decisions that progressed the company and pursue new mandates that proved to be sustainable for the company.

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Jeff Rubenstein

"The team at Merit Investment Bank works hard and puts in a lot of time and energy. And because of that, they're talking to people with a lot more sincerity than just putting out a deck. They went deeper and not only understood our strategy, but they understood how to pitch the right strategy to the folks on the other end of the transaction. They explained our business so a potential suitor understood how it could be integrated into their business.

Merit Investment Bank thought of a more strategic transaction and they built a better story. It's what's created more offers and what made the offers higher."

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Tom Fleck

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Chris Noorda

“I greatly appreciated Merit Investment Bank’s expertise and guidance throughout this process and appreciated, even more, their attention to the intangible things that were important to me and my company beyond just getting a deal done.”

President, Noorda BEC

Marco Allegretti

“I enjoyed working with Merit Investment Bank—they made an enormous contribution in such a complex but successful transaction. I would be happy for the chance to give a reference in the future for what a great job they did!”

Private Equity / M&A Executive, Atlantia; SpA Managing Director, McKinsey & Co

Bill Adams

"I wanted to work with an Investment Banking firm that was going to be able to understand our business, get to know me and my team, and then not only help us secure the investor, but help us find the right investor because they understood what we really needed. We got that and more with Merit Investment Bank. Their strategic guidance, patience, and diligence were critical in getting this transaction finished, and was the difference maker in this process.”

CEO and Cofounder, Conscious Leadership

Howard Perea

"We are thrilled with the outcome Merit Investment Bank delivered for our family through the sale of the business. With their guidance, we were able to unlock significant shareholder liquidity while positioning the employees of the company for continued success within a growing platform.”

Co-Owner, RAC Transport Inc.

D. Roberts

"We hired Merit Investment Bank over other investment bankers because of the responsiveness to our questions, aggressive approach to winning, persistence in following-up, and the many creative ideas the team presented. Merit Investment Bank added significant value beyond just running a process."

EVP, Project Yellowstone

Dave Carr

"Unlike many investment banks I've worked with during my career, Merit Investment Bank was attentive at all stages of our transaction, which really made a difference in achieving a great outcome."

CPA, Interim CFO

Mike Olson

“Through the broad auction, Merit Investment Bank got us another 75% above the offers that originally came in. We still have a piece of the company and I’m still able to run it. I feel good that our key employees are going to be secure in the future. It’s a win-win for everybody.”

Keith Jackson

"The team at Merit Investment Bank have provided invaluable assistance in stabilizing and growing my company. They’ve helped with both short-term challenges and long-term planning. Their experience running multiple businesses like mine and vast network of contacts have brought value to my company and to me personally. If you want help taking your business to the next level, I highly recommend Merit Investment Bank."

Owner of Industrial Revolution, Inc.

Carl Peterson

"As a business/transactional attorney, I have had the opportunity to work with many investment bankers in the M&A arena. The Merit Investment Bank team is, without question, the best in the local middle-market space. They make clients feel comfortable by both listening to and provide thoughtful advice for legal counsel. Most importantly, they are able to negotiate a great deal.

Quite refreshingly, Merit Investment Bank puts the needs of the client above closing a deal – something very rare in the M&A world. I give my highest possible recommendation to the Merit Investment Bank team."

Managing Partner, Eisenhower Carlson PLLC

Gary Goeldner

"The Merit Investment Bank team has provided my company with professionalism and valuable counsel on multiple transactions. They listened to our needs, and as business operators themselves, they understood the opportunities open to us and the challenges we faced to grow. They fought hard for us at every stage. We would absolutely look to them for our future investment banking needs."

CFO, Apex Linen Service LLC

Walt Maas,

“The Merit Investment Bank team has extensive M&A and capital-raising experience in the middle market, both as investment bankers and entrepreneurs. They are great to have on an engagement team and are committed to helping clients succeed, whether buying or selling a business or sourcing capital to scale a growing business.”

Attorney & Partner, Karr Tuttle Campbelle
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