“Because of Class VI’s experience, they had a roadmap to navigate us through the whole go-to-market process.”
–Terry Wickland, President & CEO
An Assessment Spurs Action
Terry Wickland knew it was time to seek outside investment for NFT, Inc., the company he had been a part of for over 30 years. He recognized, however, that a complicated ownership structure and limited historical investments in growth could pose challenges in attracting the right buyer.
After a comprehensive search for an investment banking partner, NFT’s family shareholders turned to Class VI to help with their difficult situation. The first step, they learned, was to undergo a detailed risk assessment.
“We used CoPilot to evaluate our readiness, and we discovered we were not even close,” says Terry.
Not to be deterred, Class VI Pathfinder intervened, recommending specific, high-impact actions. They also helped the family shareholders define their unique deal parameters.
“One of the things Class VI does early on is to survey all owners and senior management,” Terry explains. “Through a multivariate analysis, they identify the important attributes of the sale.”
A Reliable Compass
Within about a year, NFT was headed to market. A capital transaction is arduous, and Terry underscores the value of having Class VI to keep the team focused on the goals they’d identified.
“A good valuation, of course, was important but it wasn’t the highest priority. How our employees landed, how senior management landed—these factors really mattered to the family. And we achieved all those objectives.”
Remaining unified while evaluating 15 outstanding proposals to acquire or invest in the company, the ownership team navigated the options—and the emotions—and reached closing with the “best of the best,” according to Terry.
Life After Sale
The new resources and expertise available to NFT since the transaction have inspired Terry and senior leadership. “The deal set us up for exceptional growth,” Terry says.
“We’re now working for a really top-tier, world class private equity firm. It’s probably some of the highest job satisfaction I’ve had in my career,” he shares. “I would say that’s true for our entire management team.”
Disclosures
LLC. Class VI Securities, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA). Class VI Pathfinder, LLC provides general business consulting to privately held businesses.
Testimonials may not be representative of the experience of other customers. Any promotion, either via testimonial or endorsement is unpaid (in cash or non-cash form) and does not guarantee future performance or success. We believe that all information provided is from credible and reliable sources. This information does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations.
Terry Wicklund is a client of Class VI Partners and is not being compensated for sharing their opinion and experience with our firm. Any compensation creates a conflict of interest and Terry Wicklund’s comments may not be representative of any other person’s experience with the firm.
