Mountain Water Systems, a water softening equipment supplier located in Asheville, NC, was officially sold to new owners by way of Viking Mergers & Acquisitions. Mountain Water Systems was founded in 1984 and purchased by the recent sellers, Jim Roberts and Steve Mayer in 2008. Since Jim Roberts and Steve Mayer took over, the business has grown exponentially and several new services were added. The transaction coincides with a positive trend in M&A activity seen throughout the Carolinas.
“We’ve spent 8 years growing Mountain Water Systems and decided we were ready to retire,” says Jim Roberts. “We recruited Viking Mergers & Acquisitions to assist in the exit planning process and could not be happier with the outcome of this deal,” Jim continues. Dan Misali and Greg Ponder of Viking Mergers facilitated the deal. “We knew Mountain Water Systems would draw a ton of interest,” says Dan Misali, Senior Advisor at Viking Mergers. “Within just 3 weeks, we had a formal offer and dozens of additional buyer inquiries on the business,” Dan explains.
It wasn’t long before the right buyers came along and made an offer on the business. Michael Mathews, an engineer from Asheville and John Warren, an engineer from Virginia, purchased the business to test their entrepreneurial skills. Both parties are pleased with the outcome of the transaction and look forward to watching the business grow under new ownership.