Independence Corn By-Products, Inc. – SC&H Capital was hired by this forty-year-old, Iowa-based corn cob processor to solicit offers for the company. With very few assets relative to its debt, three main competitors stood out as being the only logical buyers. Completing a deal quickly was critical as contracts for the full season’s supply of cobs were about to be awarded.
Through SC&H’s process, 100 companies looked at the business, and within 75 days, five offers were submitted, all from companies not in the business. Through a competitive process, SC&H negotiated a more than 100% increase from the original offer made by Best Cob, LLC. As a result of SC&H’s efforts, all the secured debt was paid in full, employees were retained, and the company continues to operate.