Indicom Buildings

Indicom Buildings, Inc. acquired by Sunbelt Modular, Inc.

Indicom Buildings, a 21-year old company in Burleson, Texas, was a successful wholesale manufacturer of mobile and modular commercial structures, sold to dealers in southern and southwestern U.S. markets. Indicom’s buildings frequently were used as portable classrooms or modular buildings designed for construction, industrial and medical applications. The company operated in a 110,000-square-foot facility on 14 acres and employed approximately 140 non-union employees. All three individual owners remained active in the company. In order to gain liquidity and diversify their assets, the owners decided to sell a controlling interest in the company without giving up its management.

Interested in acquiring Indicom, Bradford Equities Management, L.L.C., together with HSBC Capital (USA), Inc. and Amtex Corp, formed the acquisition entity Sunbelt Modular, Inc. The buyers already served the “direct” modular building industry and saw the synergistic benefits of complimentary manufacturing, increased purchasing power and diversification with new shared channels of distribution. This strategic acquisition made the consolidated companies of Sunbelt Modular the largest manufacturer of commercial modular buildings in the United States.

Serving as exclusive financial advisor to the shareholders of Indicom Buildings, C.V. Lemmon & Co. designed a comprehensive selling program, prepared the offering materials, researched for and contacted numerous potential purchasers, evaluated proposals and coordinated negotiations through the closing for maximum value.

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