Generational Equity, an advisor to privately held and familyowned businesses for mergers, acquisitions, and strategic growth initiatives, announced the stock sale of its client Creasy & Whiteed, Inc., a fabricator and installer of metal roofing and architectural sheet metal products, based in Hampton, Va., to private investors in western Va. The value of the transaction was not disclosed.
With the acquisition, Creasy & Whiteed’s new owners intend to expand the company’s geographic reach and build upon its solid reputation and long term customer base. “We felt that Creasy & Whiteed and the buyers’ interests were a good match,” said Jim Russell, Generational Equity managing director in the transaction. “The seller of the 75 year old business felt comfortable that the buyers’ had the motivation and understanding of the industry to be able to succeed and the company and its current employees would be provided for.”
Creasy & Whiteed entered the market in May 2007, following participation in a Generational Equity seminar and the engagement of Generational Equity’s services including a business valuation and exit strategy planning. Generational Equity helped the company identify a buyer who understood the unique nature of the client’s business, allowing the business owner to transition to retirement. Generational Equity successfully participated in the negotiation and structure a deal that included 90 percent cash at closing purchase price, favorable capital gains tax treatment with the stock sale and a long term property lease. “These factors made the deal very attractive to the seller,” Russell said. “We also worked closely with a regional community bank to assist the buyers in obtaining a competitive loan in a very difficult lending environment.” The deal closed nine months after Creasy & Whiteed entered the market.
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