Intervac acquired by Edco
Deal closed: March 2014
Oasis M&A mandate: sell-side
Sub-sectors: Import & distribution, appliances, consumer products
Background and motivation
Intervac Australia was formed in late 2002 as the Australian distributor of best-in-class industrial and commercial cleaning products and equipment from global manufacturers. Based in Perth and with warehousing in Sydney, Intervac work with a reputable dealer network throughout Australia.
The vendor was seeking an exit for personal reasons.
Oasis M&A’s challenge was to find an acquirer in a very niche industry with terms satisfactory both to the vendor in addition to the U.K. based manufacturer who had veto power over any proposed buyer.
Oasis M&A approached a range of allied verticals within the distribution sector to identify an acquirer who could benefit from Intervac’s unique offering. Edco is Australia’s largest family-owned supplier of cleaning, janitorial and food service products and saw InterVac as an opportunity to strengthen their cleaning product line in the commercial space.
We engaged Michael McGrath and Oasis M&A based on a recommendation by one of our business associates to find a prospective buyer for one of our companies.
Our successful import and distribution business with exclusive rights for the Australian wide distribution has been established for about 13 years.
The challenge for Oasis was the fact that we had one major supply company based overseas with verbal supply agreements in place and to convince a potential buyer that those agreements would continue with an approved buyer.
We were very happy with the professional and methodical approach of Oasis to find a selected buyer, which achieved a successful outcome within 10 months on engagement.
We found Warwick and the Oasis team very helpful and very easy to deal with and can only recommend him and his team.
Thank you for your service.
Joe F Blum
On behalf of the
GEPRO Group of Companies