Transactions
Prinzing Enterprises
Providing M&A experience and acting as a liaison between competitors…
“Brady was a direct competitor. Mertz gave us invaluable guidance for when and how we developed ideas with Brady and when and how we shared data and concerns. From my perspective, the transaction would not have happened without Mertz. I am delighted Mertz was on our team.”
– Tom Prinzing, Shareholder, Prinzing Enterprises
“Mertz provided very valuable assistance to us in acquiring Prinzing.”
– Dan Johnson, V.P. Corporate Development, Brady Corporation
Situation
Brady Corporation a financially strong public company and competitor, approached the owners of Prinzing Enterprises to sell their company. Brady had approached Prinzing a couple of years earlier, but conversations stalled. The owners of Prinzing had an interest in selling, but only under certain conditions. They did not want conversations to stall again if their conditions could be met.
Scope of Mertz’s role
Mertz began with a strategic assessment of Prinzing and its markets, which included Brady as a significant player. With this background and its years of experience in M&A, Mertz could ask questions and facilitate discussions between the parties. Mertz knew which areas were sensitive for the owners of Prinzing and which were not. Mertz gave Brady feedback and guidance, which helped to successfully navigate through what could otherwise be awkward conversations. Furthermore, Mertz introduced the seller's conditions in an objective and positive manner. Mertz was integral for developing a creative structure that addressed each party’s concerns and objectives.
Mertz’s value add
Mertz added value by asking questions, listening and developing ideas. Mertz’s deep understanding of M&A, Prinzing and its market (of which Brady held significant share) was necessary to bring the parties together.