Viking M&A Announces Successful Acquisition of Discount Awnings

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Oct 05, 2023, 09:27 ET

SARASOTA, Fla., Oct. 5, 2023 /PRNewswire/ -- Viking Mergers & Acquisitions is pleased to announce the successful sale of Discount Awnings, a founder-owned and operated business with a rich history spanning over 30 years in Sarasota, Florida.

In November 2022, Viking began crafting an exit strategy with Steve and Kim Judd, the founders of Discount Awnings. Despite not having a specific buyer in mind, the Judd's emphasized their desire to see the next owner carry forward the company's legacy while upholding its core values and commitment to craftsmanship.

Kim and Steve Judd said "Viking M&A was an invaluable partner throughout the process of selling our business (Discount Awnings). Their expertise, dedication, and support played a key role in ensuring the successful transition of our business. With their guidance, we not only found capable new owners but also secured the legacy and values that have defined Discount Awnings for over three decades."

After a comprehensive search and selection process, Viking identified Hedson and Natalie Robinson as the ideal successors. While newcomers to business ownership, this individual buyer couple brings a fresh perspective to the table. With Hedson's financial acumen complementing the Judd's wealth of industry knowledge, Discount Awnings is primed for substantial growth and future success.

Hedson Robinson stated, "Robert and Max were essential partners in my acquisition of Discount Awnings. Their experience and commitment played a pivotal role in making this transition a reality. Thanks to Viking M&A's guidance, we successfully secured the necessary financing and working capital to fuel the growth of the business. I am deeply appreciative of their contributions throughout the entire process."

Some key notes from the transaction include:

The business closed at 97% of its listing price.
Discount Awnings' manufacturing operations will remain in Sarasota and its vicinity, retaining its well-established name.
Steve and Kim Judd have committed to working alongside Hedson and Natalie Robinson for the upcoming year, focusing their combined expertise on identifying and acting upon growth opportunities.

Guiding this successful deal were Viking M&A's Robert Lugo and Max Roix.

About Viking Mergers and Acquisitions
Viking provides exit strategies and M&A services to middle-market business owners. In business since 1996, 50% of Viking's brokers are former business owners. Viking has an 85% close rate within the first seven months of the list date, representing over 800 successful transactions.

SOURCE Viking Mergers & Acquisitions