Northern Feed & Bean has been recapitalized with Fenix and Open Prairie.
Recapitalization
Case study
The Challenge
- For over 65 years, Northern Feed and Bean has been serving bean growers, commodity dealers and feed lots in Northern Colorado with secure supply and exceptional service.
- As tenured specialists in the Pinto and Mayocoba bean markets, NFB has deep relationships with the regional grower base and strategically located facilities for storage and distribution.
- NFB retained Merit Investment Bank to perform a valuation to assist with succession planning and subsequently decided to pursue a sale of the business.
The Solution
- Merit Investment Bank identified a variety of strategic and financial buyers with interest in the business; however, many did not meet the needs of the seller.
- Merit Investment Bank leveraged our process to source an off-the-radar buyer that met the needs of the sellers and ensured continuity of the Company, its brands and dedicated staff going forward.
- Merit Investment Bank assisted in facilitating diligence, structuring the transaction, sourcing capital providers and ensured a transaction closing with a diverse group of stakeholders.
- Merit Investment Bank worked closely with the buyer to facilitate the sourcing of both debt and equity capital to fund the recapitalization.
The Results
- With the emergence of several deal complexities, including the death of a shareholder and a global pandemic, Merit Investment Bank maintained momentum and facilitated collaboration between buyer, seller and other stakeholders to ensure a successful closing.
- Merit Investment Bank’s focus on post-LOI facilitation of closing, a time when many investment banks take a step back, was critical to achieving an above-market result for our client.
- Our tenacity, creativity and resources allowed us to add significant value to the process and achieve an outcome unlikely without our involvement.
TESTIMONIALS
“
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.
Jeff Rubenstein
CEO at SmartProcure
acquired by Thompson Street
Get in touch
With offices throughout the United States and serving clients globally, Merit Investment Bank is ready when you are.
info@meritinvestmentbank.com
Phone
(253) 327-1490
Proud Partners
Merit Investment Bank is a proud partner of CDI Global, providing us with a strong international network. This partnership extends our reach, allowing us to source acquisition opportunities across the globe.
CDI Global is a leader in middle-market, cross-border transactions. Our international presence, industry expertise, and market command ensure our ability to help you reach your goals.
