Merit Harbor Group Helps Owners Exit Profitably

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Seattle-based Merit Harbor Group orchestrates strategic partner buy-out for Washington construction firm

“I would wholeheartedly recommend MHG to others. They specialize in SME’s, so we were treated like an important client. They gave us practical advice about key deal-breakers, kept the deal on track and organized the process so it was less daunting."

Edifice Construction is a Washington-based residential, commercial and retail construction firm. Merit Harbor Group is an M&A and Investment Banking and Advisory firm headquartered in the Seattle-Tacoma area. It is one of the fastest-growing investment banking firms in the country, with regional offices in Boston, Las Vegas, Los Angeles, and Portland, Oregon.

Established in 1978, Edifice Construction is a successful firm in the greater Seattle area. In spite of the economic downturn, the company has grown from $9M to $31M since 2008. In mid-2014, then-president Jason Mumme and vice president Dick Lopes realized the time was right to sell their business. Mr. Mumme had worked with Merit Harbor Group before, so he called on a trusted partner to discuss initiating a strategic partner buy-out.

Establishing Value

MHG conducted an initial assessment and identified key selling points beyond the ebitda – a particular challenge for a construction company, due to the transactional nature of the business. They quickly homed in on the quality and name-recognition of the Edifice brand, as well as their recurring customers and solid base of 45 experienced staff.

Identifying the Right Buyer

MHG deployed their industry expertise to identify and vet potential buyers. Eventually, a sale was initiated to construction veteran Fred Van Vurst, and MHG carefully shepherded the winning deal through the entire process.

Winning Results

This transaction – nine months from initial contact to final closing – generated winning results for all parties. The sale also allowed the new vice president to realign his responsibilities with his expertise and passion, and focus more of his time on building. Says Mr. Mumme, “I would wholeheartedly recommend MHG to others. They worked really hard for us and were very motivated to get us the right buyer. They specialize in SME’s, so we were treated like an important client in spite of the fact that we’re not a $100M-company. They gave us practical advice about key deal-breakers, kept the deal on track and moving forward, and organized the process so it was less daunting from our perspective.”

Merit Harbor Group is an M&A and Investment Banking and Advisory firm serving lower middle market companies from 10mm – 500mm in revenues. Part of the OfferBoard Securities - Corporate Finance Group, we are able to raise capital and execute M&A transactions. We deliver a nationwide presence, multiple industry specialists, and a diverse deal network unrivaled in the industry. To learn more about these Seattle-area companies, visit Merit Harbor Group and Edifice Construction.

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Craig Dickens
Merit Harbor Group
+1 253.327.1490 Ext: 1
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Jason Mumme
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