CHARLOTTE, NC: ENLIGN Business Broker Joe Vagnone and Scale Finance Director Roger Portaro announce the successful partnership buyout of IRV Plumbing & Electric, a corporate finance transaction involving a complex negotiation between partners, creative deal structuring, and securing two separate debt facilities in order to finance the deal. A unit within Wells Fargo has partnered with IRV in providing the financing.
ENLIGN and Scale Finance advised the three owners of IRV Plumbing & Electric on this strategic partnership and corporate finance transaction from beginning to end. Specific terms have not been disclosed.
“Intercompany buyouts are especially very challenging and require very experienced, sensitive negotiation skills.” – Joe Vagnone
About IRV Plumbing
Charlotte-based IRV Plumbing & Electric is a full service plumbing and electrical services contractor that has successfully served the Charlotte, NC region for decades. With over 100 years of combined experience, IRV’s technicians offer exceptionally skilled service across a broad spectrum of residential and commercial needs, e.g. tankless water heater installation, drain repairs, backflow prevention, leak detection, pipe inspection, sump pump maintenance, sewer and drain service, gas lines, lighting installation, generator installation and maintenance, electrical repairs, etc. IRV has earned a well-known reputation for prompt, reliable service every time.
About ENLIGN Business Brokers
ENLIGN Business Brokers, which has its headquarters in Raleigh, N.C., provides seller and buyer services, professional negotiation, and valuation and marketing services to small- and medium-business sellers and buyers in the Southeast and nationally through the ENLIGN Business Brokers Affiliate program and ENLIGN Professional Partners Program (EPPP). ENLIGN provides business owners wishing to sell their businesses with discrete, objective counsel and valuation advice, and an innovative, comprehensive approach to marketing businesses for sale. Complete confidentiality is offered throughout the process. ENLIGN, which is a member of the International Business Brokers Association (IBBA), M&A Source and the American Business Brokers Association (ABBA), requires that its agents and affiliates have owned a successful business of their own, hold an advanced degree and be members of IBBA working towards or having completed the Certified Business Intermediary (CBI) accreditation. For more information about buying or selling a business or becoming an ENLIGN affiliate broker, contact Jeff Snell at [email protected] or visit the Web site at www.enlign.com. For more information, visit https://enligncurrent.wpengine.com
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial growth companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolina’s including Charlotte, Raleigh/Durham, Greensboro, Pinehurst and Wilmington with a team of more than 45 professionals serving more than 120 companies throughout the region.