MINNEAPOLIS, MINNESOTA – Quazar Capital Corporation is pleased to announce the sale of its client, Victory Tool, Inc., an Anoka, Minnesota based company, to MultiSource Manufacturing, a Burnsville, Minnesota based company.
THE COMPANY– Victory Tool is the leading manufacturer of hard tooling in the Upper Midwest. The Company designs, builds, maintains and repairs complex Progressive, Stamping and Compound dies. In addition to manufacturing custom dies, Victory Tool also offers custom wire EDM and CNC machining services.
THE SITUATION– The Partners of Victory Tool had decided to sell the Company in order to pursue individual interests. The main objectives of the sale were to maximize the value received for the company, retain employees and facility, and to align the company with a successful, industry player that could sustain and support the future growth of the Company.
ENTER QUAZAR– Quazar Capital Corporation was engaged to help prepare the company for a sale and to structure the transaction.
UNIQUE CHALLENGE– Prior to launching a marketing campaign, Quazar Capital Corporation notified a select group of logical and qualified industry buyers. This approach virtually eliminated Victory Tool’s risk of exposure in the marketplace, especially among competitors and employees. Immediately, MultiSource Manufacturing expressed an interest in the acquisition opportunity and five months later, the purchase of Victory Tool, Inc. was completed.
THE RESOLUTION– This merger allows the companies to diversify and strengthen their service offerings. In addition, MultiSource Manufacturing plans to operate Victory Tool as a stand-alone division, allowing Victory Tool to retain their employees, their facility and their brand name. In a statement from Sheldon Halberg, President of Victory Tool, Inc., he commented on the sale experience, “As a business owner, you do not always get out like this. We were fortunate and received a good deal with a local buyer that knows our industry. Overall it was a pleasurable and painless experience.”