STRATEGY

 

To achieve the company's objectives, J.B. Poindexter maintains an active corporate development program. Our acquisition procedures include:

  • Prompt response to the inquiries of owners and intermediaries
  • Strict confidentiality during and after our review of potential acquisitions
  • Creative structuring of acquisition transactions to address special seller needs
  • Timely payment of intermediary fees and expenses
  • Continued management or advisory roles for selling shareholders, if desired
  • The financial ability to pay full, fair prices for attractive companies

 

 

CRITERIA

 

TYPE OF BUSINESSES PREFERRED

We seek manufacturers of specialty vehicles and vehicle-related capital goods and consumer durables that are sold to a broad customer base of industrial and commercial users of vehicles.

  • We prefer privately held companies and non-unionized divisions of publicly traded companies.
  • Significant market share, good brand identification or favorable product positioning, longer product life cycles and moderate revenue volatility are desirable characteristics.
  • We are unable to pursue non-branded manufacturers of commodity or very low value-added products or components.
  • Stand-alone acquisition candidates and ‘bolt-on’ acquisitions should complement our existing businesses, providing us with product adjacencies, a broadened customer base, extended geographic reach, a streamlined supply chain or other competencies.
  • Candidates should have untapped potential for cost-driven business process improvements as well as organic growth opportunities.

 

FINANCIAL CRITERIA

  • We generally look for companies that have positive cash flow and that are at least marginally profitable.
  • ‘Bolt-on’ businesses or product lines can be of any size if they are a strategic fit with an existing operating unit of our businesses.
  • Stand-alone acquisition candidates generally should have revenues of $100 million or more.
  • We typically are cash buyers who implement a thorough ‘due diligence’ review, negotiate a reasonable purchase agreement at a fair price for all and close promptly.
  • Standard investment banking fees are readily paid for successful closings of purchase candidates.

 

MANAGEMENT TEAM

  • JBPCO is a growing, privately held industrial company with a long-term commitment to building strong operating subsidiaries.
  • We seek to buy businesses that have strong management teams in place. The JBPCO corporate culture encourages operating management to run our businesses as if they owned them.
  • We assist our management teams by employing the strengths of the parent company in global sourcing, information technology, strategic leadership, and most critically, lean manufacturing and continuous improvement techniques.
  • We offer meaningful long-term financial incentives designed to stimulate our management teams to improve the financial performance of their businesses.
  • Our assessment of the capabilities, energy level and ethical standards of the top executives at acquisition candidates is a key factor in our evaluation process.
  • We are committed to enhancing corporate value and reject absolutely the portfolio mentality inherent in the practice of purchasing businesses with the intent of resale.

 

 

CONTACT INFORMATION

Please contact us for a private conference regarding prospects that come to your attention:

 

J.B. Poindexter & Co., Inc.

600 Travis Street, Suite 200

Houston, TX 77002

713-655-9800

m&a@jbpco.com

 

© 2016 J.B. Poindexter & Co., Inc.

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