AGA Recapitalizes with Trivest Partners
Southport, CT -
Carter Morse & Goodrich (“CMG”) is pleased to announce it served as the exclusive financial advisor to A. G. Adjustments Ltd. based in Melville, NY (“AGA” or the “Company”) in its recapitalization with Trivest Partners, a leading private equity fund based in Miami, Florida. CMG acted as the exclusive financial advisor to AGA. Terms of the transaction were not disclosed.
Founded in 1972 by Al Gerstel, AGA is a leading accounts receivable management (“ARM”) firm focused on third party commercial (B2B) collections of past due receivables for both Fortune 1000 and medium sized companies across multiple verticals.
Since 1990, Robert Gerstel (CEO) and Marc Gerstel (President), second generation owner-operators of AGA, have continued to build upon their father’s legacy and transformed the Company into a true leader in the commercial collections industry. The Company’s comprehensive and proven collections process is managed by a highly experienced team of industry certified collectors and enhanced further by robust technology capabilities.
As the shareholders were considering the next phase of growth for AGA, they were seeking a partner that could provide liquidity for the family, assist in further professionalizing the management team and continue to invest in the Company for future growth.
After evaluating numerous options, Trivest Partners was ultimately chosen by the Gerstel brothers as the ideal partner for AGA. Bob and Marc will remain in their leadership roles at the Company, but now with the full backing of a world-class private equity group to help drive both organic and acquisitive growth.
Bob Gerstel shared the following - “Carter Morse took time to learn our business and truly understand our objectives. As a result, we worked smoothly together throughout the process, driving the transaction forward while the management team continued to produce strong operating results. We could not have worked with a better partner to find an ideal investor.”
Forest Wester, Partner at Trivest, commented “We are excited about welcoming Bob, Marc and the entire AGA team to the Trivest family. We see a fantastic opportunity to build upon the Gerstel’s expertise in the collections space and build a world class organization that can continue to be a leader in this niche. We enjoyed working with the folks at CMG and appreciate all of their hard work. It was great to have quality advisor giving sound advice to facilitate this successful transaction.
Terry Hannafin, Managing Director at CMG, added “We enjoyed working closely with Bob and Marc every step of the way. This is another shining example of how CMG helps family held businesses design and execute a transaction that both meets the owners’ objectives while also maximizing shareholder value.”
About Carter Morse & Goodrich:
Located in Southport, Connecticut, Carter Morse & Goodrich is a boutique M&A advisory firm that represents closely-held and family businesses valued between $20 million and $200 million.
While CMG provides a full range of investment banking services, our primary focus is representing sellers who are pursuing their once-in-a-lifetime M&A transactions. CMG specializes in helping owners of leading companies in unique and niche markets plan, prepare, execute, and close successful transactions that maximize shareholder value. We fully understand and appreciate the unique dynamics of closely-held and family businesses and the importance of their legacies.
For more than 30 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners.
We invite you talk with us and learn how we can help you. For more information, please visit us online at: www.cartermorse.com
CMG's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC.