IAG M&A Advisors is pleased to announce the recent sale of our client Commercial Associates, located in Springfield, MO. Please congratulate Joe Lieberman and the rest of the team who supported his effort, as well as the client, behind the scenes. Below is information about the deal from Joe. Another excellent example of the senior-level white-glove experience a client receives when they work with IAG.
Communications Associates, based in Springfield, Missouri, specializes in the design, installation, maintenance, sales, and service of two-way mobile radio communication systems and equipment. The company was founded in 1979 by Mike and Joan Salmon and grew into a highly diversified operation serving more than 400 Costco locations nationwide. After decades of success, Mike and Joan were ready to move on to the next chapter of their lives when they partnered with IAG.
The process was not without challenges. For more than a year and a half, buyer interest was limited. One prospective buyer proposed purchasing the business entirely through a seven-year seller note at 0% interest, which was quickly declined. Another required a seller-financed structure with no cash down, which was also rejected.
Then, in the fall of last year, an Army veteran with industry experience entered the picture. After several phone conversations and an on-site visit, it became clear he was both highly enthusiastic and an excellent fit for the company.
An agreement was reached, and all parties anticipated closing by the end of the year. However, repeated lender delays pushed back the closing date time and again. The due diligence process became exhausting, with duplicate document requests and constant postponements—often extending the closing only one week at a time.
Despite the obstacles, the transaction ultimately closed successfully, and both the buyer and seller are thrilled with the outcome.
