Situation
Medical Gas Supply, LLC d.b.a. Bestway Welding Supply (“Bestway”) is a distributor of industrial and specialty gas as well as welding supplies to various end markets in Houston, TX and the surrounding areas.

Since its founding in 2012, Bestway prioritized a customer-centric culture based on quality service and quickly became one of the region’s most respected independent gas suppliers.

Objective
Bestway’s owner, Mr. Ernest “Cotton” Speed, III, retained Matrix to sell 100% of the Company with a goal of maximizing proceeds at close, executing a successful transaction in an expedited timeframe, and positioning the business for future growth.

Solution
Matrix worked diligently with Bestway’s financial consultant to quickly generate a detailed and professional financial snapshot while also adding value by identifying several management adjustments that ultimately increased the Company’s earnings base and eventual purchase price.

Despite the financial and logistical uncertainties caused by COVID-19, Matrix successfully produced nearly 20 bids and proceeded with in-person and virtual management meetings.

Finalists generally exhibited a willingness to close without outside financing secured and under an expedited timeframe. Ultimately, American Welding & Gas, Inc. was chosen and closed approximately three months from Matrix receiving information to produce marketing materials.