Leaders LLC advises Enterprise Foundry on its Sale to Enterprise Castings
Enterprise Foundry, Inc., a gray and ductile iron foundry, was founded by Cyrille and Aurore Legendre in Lewiston, Maine in 1921. After almost 100 years of operation by the Legendre family and with no fourth generation family member in the business, the third generation of Legendre owners retained Leaders LLC in 2015 to represent the company in a sale. While the company wished to obtain a favorable sale price, a principal objective of the Legendre family was to identify a buyer who would continue to operate the business on a turnkey basis in the Company's existing Lewiston facility with its existing employees. The sale process conducted by Leaders identified and produced a buyer and a sale transaction that achieved this principal objective. The buyer, Enterprise Castings, LLC, is an entity formed by an entrepreneur who has managed manufacturing operations his entire career and who currently owns and operates a manufacturing and product development company. Enterprise Castings, LLC will continue to operate the business of Enterprise Foundry in its Lewiston, Maine plant with its current employees.
Paul Legendre, Enterprise Foundry, Inc.'s third generation owner and President who had worked in the business for 54 years, stated: "We were impressed by the speed with which Leaders worked on our sale, as well as the amount of time and effort they spent on it. We never dreamed they would be working on our sale day after day, or that we would sell our business so quickly. All our objectives were accomplished by the sale, and we are very pleased with the buyer Leaders identified and the way in which the buyer views our company and approaches the business that has been so near and dear to our family for so many years."
After the closing of the sale, Martin Drolet, the principal owner and manager of the buyer Enterprise Castings, LLC , commented on Leaders LLC's relentless and unwavering attention to all aspects of the sale process and the transaction. "Through the years I have worked with several mergers and acquisitions advisors, and Matt is the best I have ever worked with. Matt is very professional and knowledgeable, and he has the unique ability to make both the seller and the buyer feel that he is there for them (I was the buyer and Matt represented the Seller, Enterprise Foundry). Matt has excellent people skills and strong financial, business and transactional knowledge. These attributes combined with a deep understanding of all of the aspects of the M&A process makes working with Matt a pleasant, efficient and professionally rewarding experience. I hope that I will have the opportunity to work on another business opportunity with Matt and the Leaders team."
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.