A HARTMANNRHODES CLIENT STORY
Selling a Multigenerational Distribution Business
Distribution, Wholesale & Logistics ownership transition
A multigenerational distribution business owned a proprietary commercial cleaning product with a 65-year history and outsourced production to two contract manufacturers. In 2024, the company’s CEO died following a battle with cancer.
HartmannRhodes represented the company in a confidential sale process that gave the family multiple exit options.
Creating multiple exit options
HartmannRhodes conducted direct, confidential outreach to strategic acquirers. At the seller’s recommendation, HartmannRhodes also contacted an existing customer interested in bringing ownership of the proprietary product into his organization.
That customer became the eventual buyer. His offer was presented to the family alongside offers from other prospective buyers, giving them alternatives to consider before deciding how to proceed.
Managing an accelerated closing
The selected buyer wanted a quick closing, requiring daily, hands-on attention to the transaction.
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Mark Hartmann of HartmannRhodes managed the process from the letter of intent through closing. He managed daily due diligence, coordinated with the company’s lawyer, and kept the parties focused on the work required to meet the accelerated timetable.
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With Mark handling the transaction, company management could remain focused on running the business.
The outcome
The company was sold to the strategic acquirer less than 60 days after the parties entered into the letter of intent and approximately seven months after the business went to market.
Considering the sale of your family business?
Talk with HartmannRhodes about exploring your exit options and managing the transaction while your team stays focused on running the company.