Case Study:

Thermex Thermatron, Inc. - Exclusive Sale

Situation

• Thermex Thermatron, Inc., based in Louisville, Kentucky, is a leading manufacturer of industrial microwave and radio frequency heating machines.

Objective

• The company’s majority owner (absentee owner) sought to find a buyer that would provide shareholders with a significant liquidity event yet still maintain a high level of confidentiality and protect the company’s employees and primary customer, which represented roughly 70% of sales.  The owner also sought to partner with a firm that could provide new management leadership for the company.

Solution

• Through a series of face-to-face meetings, Matrix gained a better understanding of the owner’s objectives and concerns and crafted a transaction process that would address these concerns.
• Matrix developed two different sets of profiles, confidentiality agreements and Confidential Information Memoranda for strategic and financial buyers in order to better safeguard the company’s competitive information.
• Ultimately Dyad Partners acquired Thermex Thermatron and was able to place one of its operating partners as the Company’s new CEO.