Coral Springs, Florida (PRWEB) August 23, 2008
The March Group, a middle-market merger and acquisition specialist, announces the sale of specialized manufacturing company, BMR Fabrication, based in Thonotosassa, Florida to Chicago resident, Allan Miller. BMR manufactures a unique product - automotive performance suspension products for street and race cars - and markets them to a national audience.
"It was almost too perfect," admitted new owner Allan Miller. "I kept looking for a skeleton to fall out of the closet and I couldn't find anything. I kept wondering, 'Why are these guys selling?' It almost seems like there is too much synergy here."
BMR Fabrication owners, Brett and Stacey Rockey, were selling because Brett wanted to focus on what he loved doing which is designing automotive performance suspension products for race cars. "When my wife and I got married, I worked while she went to school. We barely had enough to survive, just enough for one car payment and an apartment," recalled Brett. "I had always been interested in cars but I couldn't afford to buy the components that I wanted for the car. So I'm pretty much self-taught on everything. I just started learning how to weld and how to fabricate and I used my car as a template."
They purchased a one-year-old Camero right before her graduation and started taking it to drag strips on weekends to race. "Some of the parts that I built helped it to get better traction at the track," observes Brett. "It was safer and I made the suspension adjustable. It's not adjustable from the factory." When his racing friends saw what he was doing, they asked him to make the same components. "It kept going that way and I thought maybe I can do something with this," said Brett who had always wanted to be self-employed. "I'd worked for people who didn't seem to appreciate me."
The manufacturing business began in Brett Rockey's garage in 1998. Eventually he set up a self-designed Website and found distributors for his inventions. His passion had turned into a specialized manufacturing company serving a national niche market. But his success was a double-edged sword, providing a source of income and financial security, however the company's rampant growth and the administrative duties that came as a result of that growth kept him from doing what he loved.
Enter the buyer, Allan Miller. "My experience is in engineering and manufacturing," observed Miller. "This is a manufactured product and there is a heavy design component to it. The engineering aspect is very critical. I brought all of that experience to the table." Just as importantly, Miller had been a drag racing fan for nearly 25 years and had traveled extensively in connection with the sport for nearly nine. "I had a desire to purchase my own business and wanted it to be a small manufacturing company," said Miller, who comes from a family of entrepreneurs. "I thought it would be a great idea to mix my hobby and my profession."
As BMR Fabrication is a unique manufacturing company, so was the sale arrangement. Even though the Rockeys have sold their company to Miller, Brett Rockey remains an important part of the ongoing business. "Brett is a full-time designer for BMR," explained Miller. "He's a product designer. He has his own shop. He develops products on his own time. I manufacture and market them. He gets a commission based on the sales volume. That type of arrangement could blow up in many types of situations, but I think it's going to work out great for us."
The March Group's Managing Director Ed Wilcox agreed. "Allan Miller wanted to run a business, but he didn't know how to design the product. The seller, Brett Rockey, wanted to design the product but he didn't want to run the business." Wilcox saw the possibilities between the two men during their initial meeting, but realized that the two of them had to work out the arrangements. "The job of an M&A intermediary is to bring buyer and seller together and let the chemistry and the personalities work together to bring an offer to a deal," observes the veteran Managing Director.
"I've been with The March Group since 1998," added Wilcox. "This has to be one of most satisfying deals that I've ever done because of the way we were able to put two people together and find a transaction structure that met both of their objectives."
BMR Fabrication specializes in the design and manufacturing of high-quality aftermarket suspension and chassis products for Ford and GM vehicles. Products include: swaybars, a-arms, lower control arms, shock braces, subframe connectors, drive shaft loops, pan hard bars, torque arms, crossmembers, and more. BMR Fabrication was established in 1998 and has earned a solid reputation for quality products and innovative designs. The company's Website is http://www.bmrfabrication.com/
ABOUT THE COMPANY
The March Group is an investment bank with more than 20 years of experience, specializing in the marketing, negotiation and sale of privately held mid-size businesses. The March Group provides a full spectrum of investment banking and consulting services designed to help entrepreneurs obtain financing in all stages of their company's development. They take a hands-on approach to selling a business by offering workshops, evaluating the company, managing the marketing process, and negotiating the sale.
With a robust network of buyer relationships throughout the world, The March Group provides their clients with unparalleled contacts developed over a 20-year span of successful operation. Contact a March Group representative by e-mailing info @ themarchgroup.com or calling 866-663-5806, Kelli Matonak, for more information kmatonak @ marchgroup.com.
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