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TST is a leading manufacturer of electronic components for specialty commercial vehicles.
Transportation Safety Technologies designs and manufactures a wide range of electronic control, harness, and safety components for specialty commercial vehicles.
The private equity owner approached Croft & Bender to help negotiate the sale of TST after receiving a preemptive offer. After receiving additional financial data, the buyer lowered its offer. Croft & Bender was able to quantify significant opportunities for the buyer resulting from purchasing Transportation Safety Technologies, Inc. (TST). As a result, Croft & Bender renegotiated a significantly higher purchase price for TST. In addition, Croft & Bender sourced attractive debt financing for the buyer, which further enhanced the deal from the buyer’s perspective.
Croft & Bender provided a valuation of TST, arranged financing sources for the buyer and negotiated the ultimate sale to Riverside Manufacturing, Inc. at a 25% premium to the buyer's offer prior to Croft & Bender's involvement.