IAG, a Leading Boutique M&A Advisory Firm, is Very Pleased to Announce the Sale of Its Client Larry’s Chemical & Spray, Inc.
DALLAS, Aug. 23, 2016 /PRNewswire/ — Crop Production Services “CPS” has acquired the assets of Larry’s Chemical and Spray, Inc. for an undisclosed amount in an all cash transaction, which included the real estate. The purchase price falls within the upper end of the EBITDA multiple range that CPS targets for its acquisitions.
Operating from its headquarters in Brownfield, Texas, Larry’s Chemical & Spray, Inc. is a retail operation offering seeds, fertilizers, supplies and equipment for the farm supply and service industry. The Company’s primary products include cottonseed, chemicals and fertilizer. The Company operates from three buildings, totaling 20,000 square feet. Organized as a “C” corporation, Larry’s Chemical & Spray, Inc. was established in 1968. Larry and Sharon Yowell (the “Owners”) became partners in the business in 1992, and assumed full control in 2007. The Company has eight nonunion employees, with an average length of service of 16 years.
CPS is a major retail supplier of agricultural products and services in North America, South America and Australia and a wholesale producer and marketer of all three major agricultural nutrients and a supplier of specialty fertilizers in North America.
IAG, LLC initiated the transaction, assisted in the negotiations and acted as the broker for Larry’s Chemical and Spray, Inc.
IAG, LLC is widely recognized as a leading M&A advisory firm.
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