Cherry Tree Advises Tierney on its Merger with Trox

Distributor and Integrator of Audio/Visual (A/V) and Technology Solutions
St. Paul, Minnesota
Merger with PE-Backed Strategic Buyer

Transaction Overview

In April 2021, Tierney, a leading provider of A/V and other technology solutions and services to primarily education institutions, announced it had merged with Trox, a leading provider of technology solutions to North American education institutions. The merger positions the joint organization as one of the largest education technology solutions providers in North America. Trox is a portfolio company of H.I.G. Growth Partners.

Cherry Tree’s Role

Cherry Tree was engaged to advise Tierney’s ownership group as they considered several proposals they had received from parties seeking to acquire the business. Their objectives were to select the best partner for all stakeholders, and to achieve the personal goals of the shareholders, some of whom were seeking to fully retire while others desired to continue on in management and ideally maintain some ownership. The Cherry Tree team advised the shareholders in an accelerated process that included engaging with a targeted group of qualified parties in a short time period, facilitating meetings and strategy discussions, soliciting LOI bids and negotiating terms, supporting the Company in working through the confirmatory due diligence process, and assisting with the closing of a transaction.

About Tierney

Tierney has been a leading provider of technology solutions for K-12 schools, higher education institutions, government organizations, and corporate businesses for over 40 years. With a focus on the customer, helping teachers teach, students learn and workers work, Tierney provides a line of products and services to support projects of any size from start to finish. Learn more at www.tierney.com

About Trox

For nearly 40 years, Trox has championed the use of technology to broaden access and improve learning. As North America’s leading education technology provider, the company empowers educators to confidently purchase, implement, use, and manage technology resources by using technology to address their challenges and improve the learning landscape. Trox’s expansive product portfolio, combined with its deep understanding of how technology can be used to manage, teach, and learn, makes the company a beloved partner to tens of thousands of districts across the U.S. and Canada. Providing technology that is in use by over 20 million students daily, Trox is committed to driving transformative change in education by enabling learning without limits. Learn more at www.trox.com.

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota.  Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies.  Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services.

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.