HOW IT HAPPENED
Peterson Land hired VR Business Sales to facilitate the sale of its business. While the business was being marketed, we identified 13 prospective buyers of which 3 expressed interest in pursuing this opportunity further. All 3 buyers made an offer for the business, one of which was the Texas based leading provider of “Right of Way” land acquisition services in the United States, Contract Land Staff – a company that in 2008 was heavily invested in by one of the nation’s oldest and most successful private equity firms - Hammond, Kennedy, Whitney & Company, Inc. (HKW). Their offer was accepted, and Peterson Land became a part of an industry titan.
VR facilitated in all phases of the transaction – from the initial valuation through closing. Peterson Land sold for 92% of the asking price.
Summary of Facts
Peterson Land Consulting
Number of Prospective buyers
Number of Qualified buyers
VR Business Sales has completed the sale of Peterson Land Consulting, a consulting firm specializing in land and “Right of Way” acquisition services for utility, pipeline, transportation and telecommunication infrastructure projects from Edmonton, Alberta. In January 2013, VR facilitated its acquisition by the Texas based industry giant Contract Land Staff.