LiteSentry

Founder and CEO’s pending retirement prompts search for experienced partner.

LiteSentry has been acquired by Benford Capital Partners

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Based in Northfield, Minnesota, LiteSentry is a market leader and one of the most trusted and recognized names in both automated industrial inspection and process control solutions for the flat glass industry. The Company serves as a strategic partner to its customers by offering a diverse portfolio of real-time industrial measurement, in-line optical inspection, and stand-alone process control equipment. LiteSentry’s products inspect flat glass during production for optical distortion, stress profiles, defects, coatings, and other critical characteristics.

Situation Overview

Founder and CEO Mark Abbott was looking for an experienced partner to facilitate his retirement and to ensure the longevity and future success of LiteSentry.

You did an exceptional job for us!
Thank you. – Gary Di Dio, Owner & President, LiteSentry

M&A Transaction Process

Vermillion worked closely with LiteSentry for several months to prepare the Company for sale before going to market. Vermillion advised LiteSentry on several strategic initiatives including:

  • Advised LiteSentry on engaging an accounting firm to prepare GAAP-based financial statements to support the Company with buyer financial due diligence.
  • Advised LiteSentry on analyzing its financials to identify add-backs to EBITDA to ensure the owners were getting full credit with respect to valuation from buyers.
  • Advised the Company’s management team on highly critical meetings with buyers and ensured they were prepared for all areas that buyers would be focused on.

Result

Through a broad marketing process, Vermillion spoke with over 90 prospective buyers and secured 5 first round bids. LiteSentry was sold to Benford Capital Partners at a 19% premium to the next highest bidder.

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