IAG Sells MLD Equipment Rentals in Texas

IAG is happy to announce the sale of our client MLD Equipment Rentals in North Richland Hills, Texas.

MLD Equipment Rentals is a premiere provider of high-end audio and visual equipment for the motion picture and broadcast television industry.

Initially, Seller wanted to sell his property and business together and did not want us to contact his competitors. We received a hand-full of low-ball offers with poor terms over the first 6 months and none of them wanted his facility.

IAG’s team suggested he sell it separately (which he has done) and encouraged him to let us engage the competition to see if we could simply off-load his inventory and get a little something for his goodwill.

We engaged three different competitors over a 14 days period and things started to move quickly thereafter. The best offer was from MP&E. The most challenging part was the Purchase Agreement.

We began with an Asset Purchase model but given the Buyer’s interest in Mike’s IP (logo’s, website, inventory management system etc.) we ended up doing a full Stock Sale.

We managed the Agreement changes and served as a go-between for both Buyer and Seller with only a cursory review by their respective attorneys and CPAs saving them tons of money on this small deal.

Both sides ended up very happy and the Buyer said they’d like to work with us when the time comes for them to sell their business!