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"Ameridan's work in connection with our acquisition of Barjan was intelligent, thorough and well-supported. Jim and his team collected key insights and data from customer interviews, global industry sources and management, and were then able to synthesize these insights into a product that directly supported our decision-making process. We were thrilled with Ameridan's work. They provided us with significant value in our acquisition; we will not hesitate to engage Jim on future transactions."
Stephen Presser Partner,
Monomoy Capital Partners
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Representative Engagements
Situation:
In the Autumn of 2005, Monomoy Capital Partners was evaluating a potential controlling investment in Barjan Products LLC ("Barjan"). As part of its overall due-diligence process, Monomoy engaged Ameridan to perform strategic and competitive due-diligence.
With annual revenues of over $140 million, Barjan is the largest distributor of non-food general merchandise to truck stops and travel centers across America. The Company manufactures, sources and distributes over 8,000 individual products, including automotive accessories, chemicals and additives, consumer electronics, novelty products, books, videos, and music. Barjan is the principal supplier to four of the five national travel centers. It has facilities in Rock Island and East Moline, Illinois, Reno, Nevada and Atlanta, Georgia.
Ameridan's Role:
Ameridan's due-diligence engagement focused on assessing: (1) the strength of Barjan's key customer relationships; (2) the value-added services provided by the Company and their importance to the customer base; (3) points of competitive differentiation and customer switching costs; and (4) customer perceptions of Barjan's service levels.
The engagement was completed in December, 2005.
Monomoy acquired Barjan on January 9, 2006 for approximately $20 million in cash plus assumed liabilities. Click here to see the press release.
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