True North Companies Partner to Preserve Lonsdale Packaging’s Local Legacy
MINNEAPOLIS – October 27, 2022 – True North Mergers and Acquisitions (TNMA) today announced that True North Equity Partners of Minneapolis, Minnesota, has purchased Lonsdale Packaging (Lonsdale) of Lonsdale, Minnesota. The TNMA team of advisors worked with Lonsdale’s owners to find a buyer that safeguarded the legacy and values on which the owners founded the business in 1998. Lonsdale is a full-service packaging and logistics company that delivers high-quality packaging on-site in their Lonsdale facility.
Buyer fit and transaction timing were careful considerations for Lonsdale’s owners and the M&A advisory team at TNMA. The sellers’ initial approach involved an incumbent buyer, but the plan ultimately collapsed due to misaligned values between the buyer and seller. The TNMA team sought out a buyer whose values matched theirs – True North Equity Partners.
“As a company, we excessively work to ensure business legacies lives on, and our team will do what it takes to find the right buyer for our clients. Fortunately, the right buyer ended up being a True North company. We’re passionate about helping our founders. That’s why founders work with us,” says Erica Gilson, Managing Director at TNMA.
“As a True North company ourselves, we knew they were the right buyer to come in and preserve the legacy of Lonsdale Packaging. We couldn’t have been more pleased with the outcome,” said Mike Wheelock, M&A advisor at TNMA.
TNMA M&A advisor, Nacia Dahl, concluded: “What began as a waste of precious time with the incumbent buyer, we were able to turn into an efficient timeline, and more importantly, we were able to support the family through a very difficult transition.”
Unfortunately, the transaction was complicated by health challenges faced by one of the owners, who passed away just days before the closing. As the family navigated the challenging transition, the True North partners stood with the family, demonstrating compassion while successfully facilitating the closing.
“They were amazing. I am so graciously thankful for everything that they did to support me, the business, and the family,” Peg Solheid, life partner to the deceased owner, Rodney Busch.
As a company that values the families of its employees through generosity, Lonsdale’s business legacy will continue to be honored and upheld under its new management.
ABOUT TRUE NORTH MERGERS & ACQUISITIONS – True North Mergers & Acquisitions is an M&A advisory practice focused on providing mergers and acquisition advisory services for companies with annual revenues between $5 million to $150 million-plus. They specialize in business owner exits, business valuations, and acquisition services in the lower middle market. More information is available at www.tnma.comMore information is available at www.tnma.com.