Carter Morse & Goodrich ("CMG") is pleased to announce that it served as the exclusive financial advisor to Entropic, Inc. dba Resident Essentials (“Resident Essentials” or the “Company”) in its majority sale to WILsquare Capital (“WILsquare”), a St. Louis, Missouri based private equity firm with a focus on internet and catalog-based enterprises. Terms of the transaction were not disclosed.
Resident Essentials is a leading e-commerce/catalog company selling products to assisted living facilities and nursing home settings for senior residents. Resident Essentials offers a unique, one-stop online platform to senior living facilities and a comprehensive product line consisting of adaptive clothing, electronics, furniture and home healthcare equipment.
Founded in 2000 and headquartered in Weymouth, MA, Resident Essentials was solely owned by Jeff Garber, who purchased the Company from his stepfather in 2012 after previously working in the business. In connection with the recapitalization, Jeff has retained a significant equity ownership and will serve on the Company’s Board of Directors.
Jeff commented, “I am excited to see where this new partnership takes Resident Essentials in the next stage of the Company’s growth.” He continued, “CMG played several valuable roles throughout the process: they were my financial guru helping me re-formulate my financial reporting and systems, my data analytics department providing valuable insights demonstrating the durability of our business model, my investment banker and even my psychologist. From conducting intensive due diligence, knowing the likely buyers and negotiating the key points of the transaction, they helped guide me through all of the ups and downs of the sale process.”
Michael Carter, Managing Partner of CMG, added, “CMG’s previous experience in the mail order and e-commerce industry proved vital in positioning the Company’s strengths, weaknesses and opportunities - and in finding the right partner. We are honored that Jeff entrusted us with this once-in-a-lifetime transaction and thrilled to help him and his family capitalize on the value that he created in this company.”
Carter Morse & Goodrich served as the exclusive financial advisor to Resident Essentials and assisted in marketing, structuring, and negotiating the transaction on behalf of the Company.
Pullman & Comley served as Resident Essentials’ primary legal advisor. Tax and accounting support was provided by Marcum. The transaction was managed by Carter Morse & Goodrich’s FINRA registered broker-dealer affiliate, Carter Capital Corporation.
About Carter Morse & Goodrich:
While CMG provides a full range of investment banking services, our primary focus is representing owners who are pursuing their once-in-a-lifetime M&A transactions. CMG specializes in advising leading companies in niche markets to plan, prepare, execute, and close successful transactions that maximize shareholder value. CMG fully understands and appreciates the unique dynamics of closely-held businesses and the importance of owner legacies.
For 35 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners.
For more information, visit us at www.cartermorse.com.