Selling a business? They can help

It’s been 17 years since Charles Moncure and Frederick Naschold left the world of mid-sized investment banks to start their own firm, Dominion Partners.

Two recessions and three bull markets later, the pair continues to serve local clients looking to buy and sell businesses or raise capital.

“At a big firm, there’s a hierarchy with lots of layers,” Moncure said. “With us, there is no hierarchy. Rick or I do every deal.”

Pretty in Glass

On again, off again.

And so the deal went for five frantic weeks, as managers of a local company attempted to buy the stained-glass business they had built from almost nothing.

They were pitted against a tough New York private equity firm. They were never sure they could pull it off. South, meet North.

In the end, it was roses for the management team of Glassmasters.

Packaging firm is sold; Southern Container, packaging veterans buy Pohlig Bros.

Pohlig Bros. Inc., a packaging company with operations in the Richmond area for 135 years, has been sold.

The company’s new owners are packaging industry veterans Michael Gaffney and James Petit, who joined with Hauppauge, N.Y.-based Southern Container Corp. to buy Pohlig. Terms were not disclosed.

Pohlig was founded as a small box-making enterprise in Richmond in 1866 by German immigrant August Pohlig, a knife grinder and polisher, and bookbinder Otto Meister.

Employee-led buyout could signal new trend

When Renaissance Worldwide Inc. started rolling up companies a few years back, a small but fast-growing Richmond firm called The McClain Group turned up in the trawlnet.

Renaissance, then operating under a different name, paid the McClain founders $15 million in 1997 for their IT consulting company. It shuffled out the requisite stock options to executives and employees.

The outlook energized, the market soared. But it didn’t last.

Shopping for a business / Market is ripe for companies ready to sell

Some friends say he hit the jackpot.

David R. Bogese knows better. “I worked hard for 15 years; there were many sleepless nights,” he recalled.

It takes more than stamina to run 15 convenience stores and manage 200 employees. It takes passion.

This was his baby. He nurtured it along, opening his first Breez-In convenience store in Chesterfield County in 1984 and adding one store at a time.

Blend Of Talents Link R-MC Alumni

After 17 years of building and running their own Ashland-based electrical company, Kerri Brunton Valentine ’82 and her husband Mike decided the timing was right to sell the company to a larger firm.

A unique blending of the talents of the Valentines with two other Randolph-Macon graduates made the acquisition by Integrated Electrical Services (IES) of Houston, Texas, happen. Charles Moncure ’82, a principal of Dominion Partners, L.C., advised the Valentines, prepared an informational memorandum on the company, contacted the 12 largest prospective buyers of the business, and helped to negotiate the terms of the acquisition. Harold Starke ’67, partner with the law firm Mays & Valentine in Richmond, Virginia, and the Valentines’ long-time attorney, “put the deal together legally,” Valentine said.

Preparation key to profitable sale / Businesses fetching solid prices now

HUNGERFORD MECHANICAL. It’s a name you’ve probably heard if you’ve spent much time in the Richmond area over the years.

The company has been around long enough to see long hair come and go as a style and come back again. During the course of those 42 years, Hungerford Mechanical has kept up with the competition as a family-owned and -operated company.

But no more — at least not the ownership component.

On Jan. 1, 1998, Art Hungerford, son of the company founder, closed a deal to sell the 300-employee firm to Houston-based Group Maintenance America.

Small-firm owners getting their share while the getting is good / Deals occurring quietly, quickly

Microscopic scrutiny follows every step in the modern megamerger. Reynolds Metals Co. and Alcoa Inc., Crestar Financial Corp. and SunTrust Banks Inc.

But beneath the radar, mergers and acquisitions of much smaller companies — private local companies and family-run firms among them — are occurring at a blistering and virtually unnoticed rate. Fearnow Bros. Inc. and Castleberry/Snow’s Brands Inc. Hungerford Mechanical Corp. and Group Maintenance America Corp.

People involved in negotiating the deals say money and market share have helped drive the consolidation in recent years.

The Capital Gang – What’s the state of capital in the state capital?

You hear the stories every day. But every story, it seems, has a different ending.
One start-up or spin-off company announces its still-sketchy plans for the future, and a dozen investors come rattling the door, wanting to get in early in hopes of walking away with substantial profits a year later. Venture capitalists, in this story, compete like wolves; it seems there are too few investment opportunities for the money available.

Then you hear the other story. A company has devised a new product, something that seems to have a much-better-than-even chance of becoming a marketplace success.

Merger Helps Firm Compete In Changing Market; Long-Established Company Prospering After Being Acquired

Last year, Arthur M. Hungerford III found that his company, Hungerford Mechanical Corp., was at a crossroads. In formulating a three-year business plan for the company started by his father 40 years ago, he became convinced that this industry was consolidating in the Richmond area. “[Doing the] market analysis confirmed my thoughts about the changing market here,” said Hungerford, the company’s president.

He realized that, even with revenue of more than $30 million and an excellent credit and bonding history, “we were simply not capitalized to compete for some of the very large contracts associated with upcoming work.

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