STERLING PROPERTY SERVICES ACQUIRED BY VESTA PROPERTY SERVICES
Benchmark International, acting on behalf of Sterling Property Services, LLC (“Sterling”) and its shareholders of Bonita Springs, Florida, USA, successfully facilitated the sale of Sterling to Vesta Property Services (“Vesta”).
Sterling specializes in community association management and accounting in Southwest Florida. The company has grown to over ninety associations and continues to grow thanks to their strong reputation in the market.
Vesta provides financing, management and ancillary services to developers of planned unit communities and resident associations in connection with clubhouses, golf courses and other amenity and infrastructure facilities and commercial real estate management.
It was evident from the first meeting between the parties that the cultures of the two companies were aligned. The acquisition provides Vesta entry into the Southwest Florida market and allows Sterling the opportunity to guide the way. A Sterling shareholder commented, “We were very pleased with the accelerated process Benchmark International utilized to present various offers for the acquisition of the business. We were impressed by the relationship Benchmark International had with the buyer, which gave us confidence to move to the next level of interaction which resulted in a new found partnership moving forward.”
Benchmark International was able to run a quick, yet thorough process of identifying highly motivated acquirers throughout the globe to generate a high level of competitive tension. After just four short weeks of marketing, Benchmark delivered three offers from validated buyers and used them as leverage to deliver the best deal for the client. The client’s best deal was the offer with the largest amount of cash at closing and the best cultural fit. With one shareholder leaving to pursue other interests, and the other wishing to stay, Benchmark was also able to cultivate a new business relationship, allowing the shareholder that remained with the company to accept a new position in the acquiring company that will bring new adventures and opportunities for the shareholder.
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximizing solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $5 billion across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.