DALLAS, Nov. 1, 2016 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held, middle-market businesses, is pleased to announce the sale of its client, Tiedemann-Bevs of Richmond, IN, to Strength Capital of Birmingham, MI. The acquisition closed Sept. 26, 2016. Details were not disclosed.
Tiedemann-Bevs, a 150-year-old company, acts as a distributor of textiles, fabric and other soft goods to casket manufacturers. The company is the largest domestic distributor of textiles in its space and caters to leading casket manufacturers.
Strength Capital is a private equity firm that invests in businesses with $4 million to $20 million in EBITDA, with a primary focus on platforms in the Central United States.
Musa Jagne, Vice President, Mergers and Acquisitions for Generational Equity, led the deal to a successful close. Mr. Jagne said, "Our marketing efforts for Tiedemann generated about 50 interested parties and 10 offers. Strength Capital's personality fit, and their familiarity with the Richmond marketplace ultimately made us comfortable choosing them as the best suitor."
Mike Bergeron, a senior partner of Strength Capital, graduated from Richmond High School and has been a former keynote speaker at the Wayne County Annual Chamber Dinner. "I am thrilled to be able to be part of a community which has meant so much to me," he said.
Bob Galletly, President of Tiedemann, expressed, "We are extremely pleased to have partnered with such a wonderful and dedicated group to achieve our goals, continue our strong history and especially benefit our people here in Richmond."
Tiedemann General Manager Pam Soper said, "I'm happy for the Galletlys who have been very dedicated to the success of all of us involved at Tiedemann-Bevs, and we look forward to our new chapter together."
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 M&A education, financial analysis and reporting, sales documentation and deal-making. The M&A Advisor recently recognized the team as Valuation Firm of the Year. For more, visit www.genequityco.com and the Generational Equity press room.
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SOURCE Generational Equity