Williams Sound Corporation sold to Cardinal Equity Partners

Owned by 15 current and former employees, the company had reached a stage where a majority of owners needed liquidity. Key management, however, had a strong desire to remain invested in the company. Strategic buyers were ruled out and the M&A Group, working closely with management developed a list of approximately 120 qualified buyers, principally PE firms. Ivar sorensen led this project which produced multiple and competitive offers. With support from the M&A Group, the company held nine (9) management presentations. Three (3) finalists were selected from among a number of highly competitive proposals. The decision was made by management and shareholders to recapitalize by way of a majority sale to Cardinal Equity Partners, providing full liquidity to selling shareholders while also allowing executive management to re-invest while continuing to build the business.


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