has been acquired by
Safe-Start is a leading distributor of batteries and related products.
The Company is a leading distributor of batteries, wheels, tires, chargers and related products for golf, marine, and recreational vehicle applications. The Company has over 2,000 customers in 34 countries and eight distribution centers located in the Southeastern United States. In addition to the distribution business, the Company is a major recycler of scrap lead related to the collection of used batteries.
The Company approached Croft & Bender after it received a preemptive offer to be acquired by a strategic buyer, who was major supplier to the Company. Croft & Bender was engaged to evaluate the initial offer, potentially approach other possible buyers to market check the initial offer, and negotiate the transaction.
Croft & Bender successfully negotiated and restructured the valuation and terms of the initial offer from the strategic buyer to increase the overall valuation while providing for an increase in the upfront cash payment received. Croft & Bender also was able to lower the hurdles relating to achieving the earn-out payments.