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Brian Petty (and Council) Sell Packaged Concrete, Inc. (PCI)

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ELBURN, IL. – 2011 – Ownership change in PCI was imminent starting in 2009. “It was a great company to build.” says Brian. Annual sales grew from 9M to 35M under his tenure. “I knew since 1995 that we would not be able to maintain ownership of PCI indefinitely and as time passed that became more clear”. In 2009 Brian’s brother wanted to liquidate his ownership. Brian secured his own funding and secured another partner. But ultimately the best decision was to sell the company together. He found a highest bidder and after 9 months of negotiations the ownership of PCI transferred in 2011.

The intimate involvement by Brian Petty in every step and process of the negotiation and development of a Purchase Agreement between Petty (and his council) and Buyer was a fantastic learning experience. It was a nine month – 24 hour course on how to package and sell a company. “My life stopped for 9 months so that my company could be sold successfully. Every line of the 43 page Agreement has me and my councils fingerprints on it.” states Petty. But it was a 35 month process for Petty to manage his Partner, a potential new partner, Financing his own leveraged buy out and ultimately a 100% sale of PCI.

It was a very successful event for all parties.