On the back of the recent announcement that Lacima had been acquired by EEX, I talked with Dr. Chris Strickland to add some details to the announcement. The deal has now closed as of mid-last week and so I was interested as to why Lacima had agreed to be acquired? Chris told me that it had been seeking an investor or strategic partner for some time now and that the primary driver was to allow Lacima to meet its potential and grow faster within the marketplace. “We weren’t growing as fast as the market potential suggested we should and part of the reason for that was the fact that we were owned by two private families and as a result we were somewhat conservative in our approach,” he said. “By finding an outside investor or partner, we could grow the business faster and in line with what we truly believed our potential was.” Apparently, Lacima had many meetings with prospective partners and investors but realized that while there was lots of money available for vendors like Lacima much of it came with the need for another financial event 3-5 years later. A resale, as Chris put it. So, in the… continue reading
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