- 10 - obtain loan amounts from financial institutions for petitioner's prospective purchase of Old Lorvic. The Acquisition Memorandum identified and detailed specific factors as crucial to Old Lorvic's success in the dental professional field and related objectives. Among other things, the Acquisition Memorandum stated that a great degree of Old Lorvic's attractiveness as a company for acquisition rested on increasing yearly revenues, an attractive purchase price, and significant success in its strategy of marketing to specific niches in the dental professional field. The Acquisition Memorandum stated as factors that supported the assumption of ownership: (3) Strong Management Team. The Nemanick family has been managing Lorvic's operations for nearly 35 years. Senior management averages more that [sic] 22 years with the Company. While the Company utilizes a dealer network for the majority of sales, senior management has built strong direct relationships with Lorvic's direct customers. * * * * * * * (6) Long Established Customer Base. Lorvic has been supplying products to the professional dentistry market for over thirty years, and the Company's top ten customers have been ordering from Lorvic for an average of seventeen years. Management feels the loyalty of its customer base is Lorvic's most significant competitive advantage in a market dominated by large corporate organizations.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011