IAG is happy to announce the sale of Rainwater Water Treatment & Bottled Water Delivery in Washington State.
IAG M&A Advisors recently announced the successful sale of Rainwater, Inc, a water treatment company located in Prosser, Washington. The company was acquired by Water Doctor, a buyer who was secured by IAG’s transaction team after a few bumps in the road.
Rainwater hit the market in June of 2022, and despite being a very solid business, it faced challenges due to its location in a small town of only 10,000 people. While there was a lot of initial interest from potential buyers, many bowed out once they realized the actual location of the business.
However, in mid-December, a buyer was located who lived three hours away from Prosser. Financing was secured by February 20th, but when the buyers tried to establish ownership with the State, they found that new legislation required a full-time licensed plumber to be on staff for installations. By the time a solution was found two weeks later, the buyers had already found another business closer to their home.
Despite this setback, IAG’s transaction team was able to secure another buyer just a couple of days later. This buyer owned his own water treatment business a couple of hours away and was able to pay cash, leading to a short 4-5 week closing period. Throughout the process, the business owners were a pleasure to work with and were thrilled to finally be able to retire after the deal was done.
The sale of Rainwater highlights the importance of having a knowledgeable M&A advisor who can navigate potential roadblocks and secure the right buyer for your business. While challenges can arise during the sale process, having a trusted advisor on your side can help ensure a successful outcome.
“This was a learning experience for everyone and if it wasn’t for IAG we would not be able to enjoy retirement. Thank you everyone!”
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