DALLAS, Tex. – L & L Pro Pac, Inc., a Grapevine-based commercial crating and packing company, was acquired this week by LBB, Ltd. in a transaction facilitated by Dallas’ Sigma Mergers & Acquisitions.
L & L is one of North Texas’ leading commercial crating and packing operations. Whether it’s fragile electrical components, heavy-duty oil rig equipment, hazardous materials or even livestock, L & L has the resources and expertise to crate and pack any freight for international or domestic delivery by air, water, motor or rail.
L & L founders Les and Linda Farmer attempted to sell their company three years ago, but their representative at that time was unable to locate a suitable buyer with the ability to obtain financing for the acquisition. With no reasonable deal on the table, they decided to put the sale on hold – but after a couple of years the retirement itch was back and the Farmers this time reached out to Sigma for help.
In less than six weeks from taking the company to market, Sigma senior business advisor Jeremy Furtick was able to generate 12 offers for L & L, three of which were above the asking price. After having the opportunity to interview their top-five candidates, the Farmers decided on LBB, Ltd’s president, Ken Pierce.
“To say we were thrilled with the results Jeremy produced would be an absolute understatement,” Mr. Farmer said. “One qualified buyer would have been a blessing, but to have him bring 12 offers to the table was something Linda and I never dreamed of.
“This company is our baby, and some of our employees have been with us for more than a decade – so finding the right buyer was as important as getting the right deal. By delivering such an outstanding group of buyers, Jeremy gave us the chance to cherry-pick the person we were the most comfortable with to take over L & L – and to get more than our asking price was just the icing on the cake!”
Mr. Pierce already owned a successful fastener distributorship in Lubbock that he purchased several years ago. But his wife and family were anxious to relocate within the state, which had him looking for acquisition opportunities in the Austin and Dallas areas.
“I looked at a lot of opportunities across Texas for something I felt comfortable taking over in an area that my wife would be happy moving to,” said Mr. Pierce. “It’s difficult to adequately review a business opportunity from 500 miles away, but Sigma made it simple with their online system and video presentation. I was able to ‘meet’ Les and Linda on camera from the comfort of my own home office, and the minute I finished watching that video I knew this was the right opportunity for me and the Farmers were the kind of people I wanted to work with – without Sigma’s unique presentation I may have never taken a second look.”
“Les and I know we made the right choice,” said Mrs. Farmer. “Already, our employees have taken a liking to Ken and we can tell he’s going to be a huge success growing L & L to new heights. We passed on some other outstanding buyers, so it was a stressful decision – thankfully Jeremy was right there with us throughout the entire process offering his experience and opinions and making this easier and smoother than we ever thought possible.”
Sigma Mergers & Acquisitions’ (www.sigmamergers.com) roots as a Dallas business brokerage and M&A firm date back to 1984. After the company was acquired in 2004, Sigma has grown into one of the country’s most successful firms of its kind. The proprietary Sigma DealMap™ process has changed the way businesses are sold in Texas and has established Sigma as one of the most productive business brokerage and M&A firms in the country year after year. Sigma has closed more than 500 business transactions since 2004, and on average those businesses have sold for 95% of their asking prices.
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