Sun Acquisitions is pleased to announce the successful acquisition of Land Shark Shredding, a mobile document destruction firm based in Kentucky.
Land Shark Shredding was founded in 2007 and operated as a certified Service-Disabled Veteran-Owned Business. They provide mobile on-site recurring document destruction services, one-time purge shredding projects, and media & product destruction. The company services both commercial and federal customers, with over 60% of revenue stemming from Federal Government contracts. The company also operates with extremely low customer concentration.
There are major growth opportunities for the new ownership to continue to grow the business. These opportunities include: implementing online marketing strategies, increasing local commercial business and expanding to other markets, improving route density, and hiring additional sales employees to grow recurring revenue
Sun Acquisitions generated over 60 potential buyers for the business which led to 3 final offers. The team at Sun Acquisitions facilitated a strategic acquisition for the client by creating a carveout deal that separated the business into two components, despite Land Shark Shredding being one legal entity. The business was acquired by two separate strategic buyers.
Matt Brunstrum, Advisor, led the transaction and Joseph Beer, VP of Operations, facilitated the closing coordination for the client. After completing the sale of the company, Matt stated, “Land Shark Shredding was a great company ran by Don Gerard Jr. for over 14 years. We were able to help Don maximize value from the sale of his company by carving out his entity into 2 pieces and finding 2 separate strategic buyers who respectively bought the commercial component and the Federal Government Service-Disabled Veteran Owned Business (SDVOB) component.”