Case Study:

Excel - Buy-Side Advisory

Situation

• Bolton/Langley & Associates set a strategy to purchase a middle market company with aspirations of making it a dominate player in its industry.

Objective

• Bolton/Langley had wide-ranging areas of interest and looked to Matrix to help establish specific search criteria. Bolton/Langley engaged Matrix to manage the strategic acquisition process.

Solution

• Matrix began an intensive search, contacting many companies. 
• Matrix and Bolton/Langley recognized a modular homes manufacturer, Excel Homes, as the ideal fit.  Further Matrix research of trends, risks, and opportunities confirmed there was a high potential for consolidation and rapid long-term growth in Excel’s industry sector.
• Matrix led the negotiations for the purchase of Excel, ultimately closing the acquisition at an extremely low multiple of historic earnings.
• Within 12 months, Matrix completed the first of Excel’s strategic acquisitions, Avis Homes, which added considerable revenue and expanded their product line and capacity.