Viking Mergers & Acquisitions Successfully Completes Sale of Flood Detection and Damage Prevention Systems Businesses
Viking Mergers and Acquisitions, a business brokerage firm representing small and middle market business owners in the Southeast, has successfully completed the sale of FortrezZ LLC and C&S Electronics, Inc. to eZLO Innovation LLC. Based in Clover, South Carolina, FortrezZ and C&S design, engineer, and manufacture wireless automation for flood detection and damage prevention. eZLO is a New Jersey-based, global leader in the development of smart solutions for homes and businesses.
FortrezZ and C&S were created to capitalize on the emerging smart home wireless industry. With a combined experience of 30-plus years in radio frequency and automotive electronics, the founders set about to design and manufacture wireless home automation devices that would detect flooding and prevent costly water damage in the home. Using the latest in high tech wireless mesh, a strong business was built on a reliable platform, serving thousands of customers.
When one of the founders decided it was time for retirement, the FortrezZ shareholders engaged Viking, where Mike Donahue, Senior Advisor, managed the transaction. “Mike and the Viking team provided us hands on experience that made us feel comfortable with the selling process and helped us with the preparations prior to selling, marketing the companies, and finally, decision making during the transaction. It resulted in a sale for us at the price and terms we wanted,” says Steve Szasz, a shareholder and Director of Sales & Marketing for FortrezZ and C&S.
“Becoming a part of eZLO innovation gives us the chance to scale our platform with insurance providers and builders, and to give millions of people the peace of mind that their homes will be safe from flooding, even if they’re on the other side of the world,” continues Szasz. With the sale of the business, Szasz will continue his career as eZLO’s Senior Manager of Business Development, responsible for bringing the product to the masses as part of their broader smart home product offerings.
About Viking Mergers & Acquisitions
Founded in 1996 by Brad and Jay Offerdahl, Viking Mergers & Acquisitions was established with the vision of providing customized exit strategies and M&A mitigation to middle market business owners. Since their inception, Viking Mergers & Acquisitions has sold over 500 businesses across the Southeast. Their intermediaries have hundreds of years of collective experience in business transactions and over 50% have owned a business of their own. Viking proudly boasts a closing rate that is 3x the national average and businesses that sell for 96% of their asking price.
To learn more about Viking Mergers & Acquisitions, please contact their office today at (704) 676-0940 or visit their website www.vikingmergers.com to see active business listings or request a valuation for your business.