ZP Enterprises LLC has acquired Charlotte, North Carolina-based Tri-Tec Industries, a precision machine shop. No financial terms were disclosed.
CHARLOTTE, N.C., Sept. 29, 2016 /PRNewswire/ — Tri-Tec Industries, a precision machine shop with a 19-year history in Charlotte, NC, has officially been sold to new owners through Viking Mergers & Acquisitions, a middle market business brokerage firm. Tri-Tec was formerly owned by Ray Motley, Mike Davidson and Rick Loyd, all of whom founded the business in 1997 and have since grown it to become a leading precision shop in the Carolinas.
The sale was facilitated by Trevor Crocker, Peter T. Keretsis and Brad Offerdahl, all with Viking Mergers & Acquisitions. Tri-Tec drew an exceptional amount of interest among potential buyers, with nearly 75 inquiries and 4 full price offers within the first two weeks of listing the business. “This business generated great interest,” says Peter T. Keretsis of Viking Mergers. “With strong financials and a good product, I knew we’d find a buyer quickly,” he continues.
Ultimately, Tri-Tec Industries was purchased by ZP Enterprises, LLC, a private equity firm owned by father-son team, Steve and Brent Zelnak. “We could not be more thrilled with the buyers of our business,” says Ray Motley, former owner of Tri-Tec. “The expansion plan laid out by ZP Enterprises is something we are extremely proud to be a part of and hope the Tri-Tec legacy can live on,” Ray continues. ZP Enterprises, LLC is a repeat customer of Viking Mergers and has built an impressive portfolio of precision machine shops through the Southeast. Since acquiring Tri-Tec, they plan to further expand that portfolio through additional acquisitions.
About Viking Mergers & Acquisitions
Viking Mergers & Acquisitions was founded in 1996 by father-son team, Brad and Jay Offerdahl. For 20 years, Viking Mergers & Acquisitions has strived to provide customized exit strategies and M&A representation to the middle market business owners of the Southeast. Having closed over 500 successful business sale transactions, Viking boasts a closing rate of nearly 3x the national average and is proud to be among the top 2% of M&A brokers in the nation. Their intermediaries have over 100 years of collective experience in business transactions and nearly 75% have owned a business of their own.
To learn more about Viking Mergers & Acquisitions, please contact their office today at (704) 676-0940, or visit www.vikingmergers.com to see active business listings or request a valuation for your business.