Leaders LLC Advises Atlantic Great Dane on its Sale to Its Management
Atlantic Great Dane, Inc., based South Portland, Maine, was founded by George "Joe" Hutchins and Scott D. Lamb in 1988. Atlantic Great Dane is one of the largest and most highly respected Great Dane trailer dealers in the United States. The Company specializes in multi-temperature refrigerated trailers that require significant customization at the request of the Company's customers, which include some of the country's largest food distributors. From its start, Atlantic Great Dane has been managed by Scott Lamb. In 2015, the owners of Atlantic Great Dane retained Leaders LLC to sell the business. Leaders conducted an extensive analysis of sale prospects, including sales to strategic and financial buyers, forming an ESOP, and also considered the potential for a management buyout. In the end, the owners of Atlantic Great Dane were extremely pleased that a sale to Scott Lamb, the company's President for almost 30 years, could be accomplished in a way that achieved their economic and non-economic objectives and enabled Scott to own Atlantic Great Dane.
Steve Hutchins, one of Atlantic Great Dane's owners and a son of founder Joe Hutchins, wrote to Leaders LLC after the sale closed: "I want to Thank You again for all of your efforts on behalf of our Family. This was obviously my first transaction of this type and I didn’t know what to expect from day to day. While at times it became very stressful to me, the guidance you showed allowed me to believe that we would succeed regardless of the number of bumps in the road."
This sale was an excellent example of the way a team approach quarterbacked by Leaders can lead to success. Steve Hutchins and his siblings retained Michael Pearce of Pearce & Dow in Portland as legal counsel, and relied on their longstanding relationship with Tom O'Donnell of MacPage for accounting and tax advice. Mike and Tom did outstanding work, and The Team jelled. The sale closed within 30 days of the execution of the letter of intent. As Steve Hutchins said, "The addition of Mike and Tom certainly completed the team and allowed us to have all bases covered. Therefore, because of everyone’s efforts, we were able to celebrate last night the successful completion of the sale of Atlantic Great Dane."
Leaders LLC provides merger and acquisition advisory services to businesses in a broad range of industries throughout the United States and globally. Leaders represents private business owners in sales of their businesses, acquisitions, mergers, and recapitalizations. Leaders also represents the management of businesses in management buyouts and shareholders in shareholder buyouts. For more information about Leaders LLC, contact Matt Caras at 888-583-7770 ext. 2 or by email at MCaras@Leaders-LLC.com.