PDQ Supply, Inc. ("PDQ") and Exact Replacement Parts, Inc. ("ERP") (together, the "Companies" or the "Business") specialize in the distribution of aftermarket replacement parts for major appliances. The Companies are complementary, with each targeting distinctly different channels of distribution.

Since PDQ was founded on 1979, the two owners worked together to grow and develop the Companies. One of the owners was nearing retirement and began looking for a liquidity event, while the other owner also wanted liquidity but desired to continue working and growing the Business.  Fort Dearborn was retained to determine the options available that would accommodate both owners' desires.

Our team of professionals undertook a detailed analysis of the Business, leveraging our operating experience to produce marketing materials that highlighted the strengths and opportunities for PDQ and ERP. Our process generated numerous management visits and multiple qualified offers from a variety of private equity investors that exceeded owners' preliminary valuation estimates.

During the course of our engagement, Fort Dearborn's mandate changed from securing a buyer for 100% of the Business, to raising capital for the buyout of the retiring owner's interest.  Once our efforts were redirected to the buyout, Fort Dearborn utilized its robust marketing process to quickly identify many capital providers that were interested in supporting the buyout, and ultimately close the financing of the deal through a cash flow loan with excellent terms for the remaining owner.

"The Fort Dearborn team was instrumental in driving our project to a successful completion.  The depth of experience, quality relationships and senior level attention made Fort Dearborn an ideal partner."-Phil Ernst, PDQ Supply Inc.

While the details of each engagement vary, this transaction was typical of our investment banking focus of representing privately-held, middle market businesses, especially in complex transactions where our operating skills and consulting expertise lend additional value.  We look forward to working with you.