Background: Central Research Associates, Inc. (“CRA”), based in Birmingham, AL, is a leading, founder-owned, multi-specialty clinical research site, offering clinical trial opportunities to patients in Birmingham and the surrounding areas.
Cassel Salpeter:
Served as financial advisor to CRA
Successfully identified a strategic buyer interested in expanding its footprint in the Southeastern U.S.
Was deeply involved in the process from buyer selection through closing
Challenges:
Expedited marketing process to ensure the sellers timeline was met
Maintained original deal timeline despite challenging market conditions
Navigating extensive diligence process without interrupting the business
Outcome: In April 2023, CRA was acquired by Flourish Research Holdings, LLC (“Flourish Research”), a large clinical trial site network in the U.S.
https://www.casselsalpeter.com/wp-content/uploads/2023/05/CRA_309x309.jpg309309roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2023-05-25 15:26:012023-05-26 16:05:58Flourish Research Holdings, LLC Acquired Central Research Holdings
Background: Firecom, Inc. (“Firecom”), based in Woodside, NY, is the largest fire alarm company in New York City, servicing approximately 800 high-rise buildings, and is one of only five companies in the U.S. to manufacture its own fire life safety systems for high-rise buildings.
Cassel Salpeter:
Served as financial advisor to the company
Ran a highly-focused competitive sales process, identifying and contacting strategic buyers
Assisted in the structuring, negotiating, and closing of the transaction
Challenges:
Maximizing and delivering value for synergies
Managing ownership and operational complexities
Navigating extensive diligence review process
Outcome: In June 2022, Firecom was acquired by Corbett Technology Solutions, Inc. (“CTSI”), a leading provider of communication, collaboration, life-safety, and security solutions for clients across the East Coast. CTSI is a portfolio company of Wind Point Partners.
https://www.casselsalpeter.com/wp-content/uploads/2022/07/CTSILogo_Blue_Gray_small.jpg495495roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2022-07-12 14:08:552023-05-26 16:10:15Corbett Technology Solutions, Inc. Acquired Firecom
Background: Multi-Specialty Research Associates (“MSRA”), based in Lake City, FL, is a founder-owned clinical research site, conducting Phase I-IV clinical trials. Since its inception, MSRA, a leader in clinical trials, has conducted clinical trials for leading sponsors in therapeutics, vaccines and diagnostics.
Cassel Salpeter:
Served as financial advisor to the company
Ran a focused, competitive sales process, identifying and contacting strategic and financial buyers
Successfully identified a strategic buyer interested in expanding its operations in Florida
Was extensively involved in the process from buyer selection through closing
Challenges:
Expedited sale and due dilligence process to ensure the sellers timeline was met
Balancing seller’s objectives to maximize value while preserving organizational structure
Outcome: In May 2022, MSRA was acquired by M3 Wake Research, headquartered in Raleigh, NC, an integrated organization of premier investigational sites, with over 16 research locations throughout the U.S.
https://www.casselsalpeter.com/wp-content/uploads/2022/05/MSRA-Logo_1x1.jpg217218roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2022-05-20 15:34:402023-05-26 16:07:27M3 Wake Research acquired MSRA Company
Background: BrandsMart U.S.A. (“BrandsMart”), based in Fort Lauderdale, FL, is a leading Southeast U.S. appliance and electronics retailer, offering a wide selection of brands, and thousands of products, including appliances, consumer electronics and computers, furniture, and other home goods.
Cassel Salpeter:
Served as financial advisor to the company
Facilitated the due dilligence process, working closely with the team to expeditiously and clearly answer acquirer’s questions
Assisted in the structuring, negotiating, and closing of the transaction
Challenges:
Ensured the desires were met to carry on the company legacy after decades of family ownership
As it was an unsolicited transaction, the seller was not fully prepared for the nuances of a sales process
Extensive due dilligence process without interrupting business, while working to meet the timing needs of a public company acquirer
Outcome: In April 2022, BrandsMart was acquired by The Aaron’s Company (NYSE: AAN), a leading technology-enabled, omnichannel provider of lease-to-own and purchase solutions with headquarters in Atlanta, GA.
https://www.casselsalpeter.com/wp-content/uploads/2022/04/BrandSmart_USA.png400400roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2022-04-05 16:52:342022-04-11 16:50:04The Aaron’s Company acquired BrandSmart U.S.A.
