Lectron Fuel Systems manufactures and distributes top-of-the-line carburetors for motorcycles, ATV’s, karts, snowmobiles, and other small engines. The company was founded in 1974 in Michigan by two engineers who created a groundbreaking technology that allowed carburetors to adjust to atmospheric conditions.
After experiencing years of success, Lectron wasn’t able to advance in it’s sector due to industry conditions and company-specific reasons. The company was acquired in 2010 and the new owners grew the company’s revenue by a factor of 20X since taking over.
We sat down with David Dunne, Vice-President, and Owner at Lectron for a conversation about his experience selling his business with Tresle Plus and Pivotal Group, our Certified Broker Partner:
David Dunne: Lectron designs and manufactures carburetors for motorcycles - primarily dirt bikes.
DD: I have been involved in selling one business prior to working with Tresle, and it wasn’t a pleasant experience. From an extended period of time to get the transaction done to our eventual sale and partnership with the new firm. I thought it could have been handled much better and Tresle did a fantastic job marrying us up with a company with our best interest at heart.
DD: Well, as most searches, whether it is looking for a place to order pizza or what time the movie starts, I started my search online. I tried to educate myself about the sales process, but a lot of the details are very hard to find in this industry. So I thought that Tresle’s website was very good in elaborating on how the process was going to go and how Tresle would work with me on executing the transaction.
DD: I was impressed with the company’s ability to ask the right questions, do detailed pre-launch work and launch it in a way that gave us access to a significant audience.
DD: I had two main concerns when selecting a firm to handle this transaction: the first was how prepared they would be and to what access to potential buyers. The second would be what type of upfront fees would be required. Tresle had a good package of a six months commitment, which was very low by industry standards, as well as no upfront fees.
DD: Well, we were able to achieve the transaction in a timely manner, most importantly, for the correct price with the correct successor company that wanted to work for Lectron’s employees and the founding partners as well as their best interest.
Tresle helped us reach our goals by bringing the transaction to fruition in a timely manner.
DD: I was most surprised by the access to clientele, the knowledge of the process that they were happy to share with me, the coaching through to make sure that the right information was delivered in a timely manner to prospective buyers and how quickly we were ultimately able to close the transaction.
DD: I would recommend this group to someone who might be on the fence because I have done two transactions and this one was very smooth, handled in a professional manner, and I was very pleased with the outcome.
DD: I would say “be prepared to deliver information in a timely manner, to be responsive, and to let them guide you to the process, as they are the experts, they have done it before, and they brought our transaction to a successful conclusion”.
DD: Ultimately was very pleased with working with the Tresle because they handled our transaction professionally, timely, and showed an extensive amount of knowledge in the process and in ultimately finding the transaction we wanted to make happen.
REVENUE $2M TO $100M?
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