Washington,
DC (March 31, 2008) – Today, FOCUS LLC, a national
middle market investment banking firm providing merger,
acquisition, divestiture and corporate finance services,
announced the representation of VERTEX Solutions, Inc.
in its recent acquisition by Minneapolis-based Adayana,
Inc. VERTEX has become a wholly-owned subsidiary of Adayana.
Established in 1996, VERTEX develops innovative learning
systems and interactive technology for organizational learning
and performance enhancement. Headquartered in Falls Church,
Va., VERTEX has grown to more than 100 employees, and has
served more than 50 U.S. government agencies, including the
Department of Defense and Department of Homeland Security.
“We had spent more than a decade building our business
and knew how to run it at a level of performance well above
others in our industry, but we had no experience selling
a company,” said Ray Daly, president and co-founder
of VERTEX. “For that depth of expertise, we partnered
with FOCUS because of their seasoned team, systematic approach
and track record of middle market M&A successes.”
Daly and his partner, Ed Kovac, both baby boomers seeking
to pursue other personal and business interests, started
working with FOCUS in mid-2007.
“The owners’ main priority was to ensure their
employees would be well taken care of by the acquiring company,” said
Brad Fleisher, managing director of FOCUS and one of four
investment bankers in the FOCUS Education and Human Capital
practice group. “Because VERTEX and Adayana had been
successful business partners in the past, the owners were
comfortable with them buying their business. They felt the
company and its employees would grow to the next level as
part of Adayana.”
With the VERTEX acquisition, Adayana will have more than
250 employees in 12 U.S. locations and India. An Inc. 500
company, Adayana now targets three vertical markets: the
Federal government sector through VERTEX; agriculture, food,
life sciences and non-profit sectors through recently acquired
Indianapolis-based ABG, Inc.; and the automotive industry
through Adayana Automotive.
“VERTEX
achieved a healthy purchase price because the company,
like many middle market organizations, was built on solid
business fundamentals, had high-levels of customer satisfaction
and a dedicated workforce,” said Doug Rodgers,
chief executive officer of FOCUS. “This acquisition
is a win-win for both companies because Adayana gains a
highly trained, dedicated workforce, greater expertise
and significant number of additional customers within the
federal government sector. In addition, the founders of
VERTEX are rewarded for their years of effort in building
a solid business.”
Fleisher and Rodgers point to this transaction as one example
of the growing trend of baby boomers looking to sell businesses
they have built over the past decades. With baby boomers
seeking retirement and a new trend not to pass their businesses
onto other family members, FOCUS predicts that M&A will
increase significantly over the next five years.
For more information about this trend and others that FOCUS
predicts will shape the middle market M&A landscape,
download a free copy of the “2008 Middle Market
M&A Forecast” at www.focusbankers.com.
About FOCUS LLC
FOCUS LLC provides a range of middle market
investment banking services with an emphasis on mergers,
acquisitions, divestitures and corporate finance. FOCUS is
headquartered in Washington, D.C. with regional offices in
Atlanta, Chicago and San Francisco. FOCUS specializes in
business units with transactions or revenues in the $5-300
million range, serving entrepreneurs, corporate owners and
various types of investors across a broad range of industries,
throughout the U.S. and worldwide. FOCUS bankers are
seasoned operating and financial executives with extensive
transaction experience. Securities transactions conducted
by Wm. H. Murphy & Co., Inc. registered Broker Dealer
member FINRA/SIPC. For more information on FOCUS, visit www.focusbankers.com . |