Date
Oct 2021
Region
Iowa
We are pleased to announce the sale of our client Sun Line, Inc. The acquisition closed October 1, 2021.
Founded in 1965, and located in Cedar Rapids, Iowa, Sunline, Inc. is an auto salvage company. The Company purchases wrecked vehicles, dismantles them, sells the reusable parts, then crushes and sells the bodies for scrap. Computerized inventory can be checked in real-time.
Sunline also sells some of the vehicles as used cars. In 2020, revenue was generated from sales of parts, scrap, and vehicles. The Company primarily differentiates itself in the competitive landscape by providing great service.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior M&A Advisor, Chris Barnard, with support from Vice President, M&A, Jacob Mangalath, successfully closed the deal. Senior Managing Director DeWayne Nelon established the initial relationship with Sunline.
“We were privileged to help Gary and Caroline Wendel retire, as well as help Caroline's father Bruce Chase divest his final piece of a long upstanding legacy,” said Barnard.
Barnard added, “What a great hand-off to Roger Cassill who grew up pulling parts out of this very yard. Roger was a pleasure to work with and we're certain the Sunline business is in very good hands.”
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Automotive M&A Deals page.
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