DALLAS - (Business Wire) GW Equity, an advisor to privately held and family-owned 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, GW 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 GW Equity seminar and the engagement of GW Equity’s services including a business valuation and exit strategy planning. GW 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.
GW 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.
About GW Equity
GW Equity, a Generational Wealth and Equity company, assists privately held and family-owned businesses in completing mergers, acquisitions, divestitures and strategic growth initiatives. GW Equity has more than 300 professional advisors and affiliates nationwide and is headquartered in Dallas, Texas, with affiliate offices in New York, Chicago and Irvine, Calif. For more information, contact GW Equity at (877) 213-1792 or info-us@gwequity.com, or visit www.gwequity.com.
About Creasy & Whiteed
Creasy & Whiteed, makes and installs metal roofing and architecture sheet metal products. Based in Hampton, Va., the company has been a recognized name in commercial roofing for more than 75 years.
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