The year is 1918. Michael Mabel is aboard a Chicago-bound train that’s just made a stop in DeKalb, Illinois. He spotted a small but bustling metal scrap yard a block away and got a flash of inspiration– that entrepreneurial spark igniting a passion somewhere deep inside. Before long, Mabel, a recent immigrant and entrepreneur, had jumped off the train and negotiated to purchase the business from its founders.
For nearly 100 years, DeKalb Iron and Metal Co. (DIMCO) has grown and thrived under the careful leadership of Mabel and two generations of his extended family. DIMCO remains one of the Northern Illinois’ foremost scrap metal recyclers and is a leading supplier of steel, aluminum, stainless steel, and brass products with state of the art capabilities in cutting, coating, and galvanizing.
Fundamental recently helped DIMCO navigate a change of ownership buyout that will allow a new team to guide the company into its next century of superior metal services for customers nationwide. We structured a $2,000,000 credit facility including $1,000,000 based on accounts receivable, $500,000 from inventory, and $500,000 secured by real estate.
Buyouts are common in small business, but that doesn’t mean they’re simple
If done right, a buyout creates incredible opportunities for both owners and investors, allowing everyone to walk away from the table with a smile. But because buyouts often involve family business and longtime partners, things can get personal and complicated if not handled right.
At Fundamental, hands-on attention to detail and direct collaboration with our expert team is what sets us apart. We are buyout experts, and we couldn’t be more proud to play a role in helping DIMCO continue its legacy of leadership.
If a buyout or ownership change is something on the horizon for you or your clients, contact Fundamental today. Find out why a funding partner with ironclad expertise crafting precision buyouts is essential if you intend to forge a prosperous future.