DALLAS, Dec. 13, 2016 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the acquisition of its client, Hanson Directory Service, to a DirecTech, LLC, based in Chicago. The acquisition closed November 8, 2016. Details were not disclosed.
Hanson Directory Service, based in Newton, IA, was founded in 1973 by Lloyd L. Hanson and was still family-owned, by his son Bill. The company publishes print and digital directories for more than 130 telephone companies in 23 states and employs over 60 people.
DirecTech, LLC, was actively looking for a phone book directory publisher to merge with or acquire for a relatively new media advertising product. This product required an outbound sales force and a local customer base, both of which Hanson provided.
Generational Equity Managing Director Michael Goss and his team, including affiliates Chris Barnard and Todd McGreevey of Marigold Resources and Vice President Luan Ly, led advisory services for the seller. "It was an honor to work with such a venerable publisher here in Iowa, and help connect Bill and Monica with a content developer well suited to continue the Hanson Directory tradition into a new era," said Todd McGreevy.
"We feel the sale to DirecTech is a good fit for our telephone industry affiliates, our advertisers and our employees," Bill Hanson said. "My father started the business in January 1973. Proudly, my family has had a long, enjoyable and successful history of service to the rural telephone industry. It was really important to me to find a buyer that wanted to keep the company here."
About Generational Equity
Generational Equity, part of the Generational Group headquartered in Dallas with over 200 professionals located throughout North America, helps business owners release the wealth of their business by providing merger, acquisition, and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services. The M&A Advisor recently named the Company its 2016 Investment Banking Firm of the Year. For more, visit www.genequityco.com and the Generational Equity press room.
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SOURCE Generational Equity