A seasoned executive had substantial industry as President of an industrial distributor specializing in the OEM market. The business was owned by three generations of his extended family. Family disagreements led him to search for a new opportunity.
A smaller business with a different, yet similar product line was identified. The husband and wife owners of the target business were beyond their desired retirement age and prepared to exit. The target business had a solid base of long term customers. However, the product line was stale, the existing sales force was not being challenged and internal systems and process were in need of an upgrade.