INDUSTRY:
Telecommunications

DESCRIPTION:
Hospitality Telecommunications Equipment and Management
Services Provider

Transaction Overview

Renodis is a leading telecommunications and mobility management services company based in Saint Paul, MN. In November 2022, Renodis acquired 12 Points Consulting. The Fargo-based company is a telecommunications company that primarily works in the hospitality industry. 12 Points Consulting provides hardware equipment and installation and manages the wireline services of several hotels located in the United States for some of the largest brand names in the hospitality industry. With this strategic acquisition, Renodis will enter the hospitality industry and will be able to leverage its resources to attract larger prospects and provide additional offerings to existing customers. This acquisition follows the acquisition of Eric Ryan Corporation which allows Renodis to cross-utilize resources in growing its management services and sourcing offerings across the hospitality and energy industries.

Cherry Tree’s Role:

Cherry Tree served as a buy-side M&A advisor to Renodis, helping the company identify numerous acquisition targets with offerings that align with the company’s growth strategy. 12 Points was a target identified during Cherry Tree’s prospect evaluation. Throughout the process, Cherry Tree assisted Renodis with financial modeling, due diligence, and negotiation of the purchase agreement.

About Renodis:

Renodis is a connectivity technologies consulting, sourcing, and managed services firm. We help enterprises accelerate their copper-to-cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent, and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their connectivity technology transformations. Find out more at Renodis.com.

About 12 Points Consulting:

12 Points Consulting provides, services, and supports telecom equipment and provides telecom expense management services in the hospitality industry. Based in Fargo, North Dakota since 2013, 12 Points has become a one-stop-shop for all of their clients’ facility and hardware equipment support needs, including 24/7 support. Find out more at 12PointsConsulting.com.

About Cherry Tree:

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. For more information, please visit: www.cherrytree.com.

INDUSTRY:
Telecommunications

DESCRIPTION:
Utility and Telecommunications Management Services Provider

Transaction Overview

Renodis is a leading telecommunications and mobility management services company based in Saint Paul, MN. In September 2022, Renodis acquired Eric Ryan Corporation (ERC), which is headquartered in Ellwood City, PA, 40 miles north of Pittsburgh. ERC is a provider of utility and telecommunication management services. Following the transaction, ERC will be an entity under the Renodis umbrella. This transaction expands Renodis’ footprint to the East Coast and adds utility management services as a new service offering.

Cherry Tree’s Role

Cherry Tree served as a buy-side M&A advisor to Renodis, helping the company identify numerous acquisition targets with offerings that align with the company’s growth strategy. Renodis was a target identified during Cherry Tree’s prospect evaluation. Throughout the process, Cherry Tree assisted Renodis with financial modeling, due diligence, and negotiation of the purchase agreement.

About Renodis

Renodis is a connectivity technologies consulting, sourcing, and managed services firm. We help enterprises accelerate their copper-to-cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent, and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their connectivity technology transformations. Find out more at Renodis.com.

About Eric Ryan Corporation

The Eric Ryan Corporation (ERC) has been in operation since 1990 providing utility and telecommunications consulting and auditing services to over 11,500 customers throughout the US and Canada. Based near Pittsburgh, PA, the company has been a leader in the hospitality industry and one of the nation’s largest and well-recognized utility and telecommunication consulting and management firms. ERC specializes in cost reduction through bill analysis, utility bill consulting, telecommunications bill consulting, rate reviews, and energy management services including energy incentives, energy rebates, and energy efficiency grants. Their telecommunication services include 24/7 help desk, cellular optimization, telecom services pricing, network design, circuit monitoring, security, and new construction management. ERC has provided cost-savings solutions for thousands of businesses in the educational, governmental, hospitality, commercial, retail, health care, non-profit, and industry sectors of the marketplace. Find out more at EricRyan.com.

About Cherry Tree

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. For more information, please visit: www.cherrytree.com.

INDUSTRIES:
Education, Technology

DESCRIPTION:  
Full-Service Audiovisual Systems Provider Serving the Education and Corporate Markets in Indiana and Kentucky

Transaction Overview

In May 2022, AVI Systems announced it acquired CIM Audio Visual / CCS Presentation Systems – Indiana, a full-service audiovisual systems provider serving the education and corporate markets based in Columbus, Indiana. All CIM employees (35) were invited to transition to AVI, joining the company and its 750-plus employee-owners. Dale Gayman, CIM CEO and David Theile, CIM CFO are continuing in leadership roles. With this acquisition, AVI will have nearly 800 employees working from locations in 25 cities in the United States.

“This acquisition immediately expands AVI’s capabilities in the education marketplace,” said Jeff Stoebner, CEO of AVI Systems. “CIM was part of CCS Presentation Systems, the sixth-largest AV systems integrator in the U.S., and has served the K-12 and higher ed markets for decades creating a solid footing on the growing technology needs of educators. When combined, AVI’s global reach and strength in service, coupled with the expertise CIM has developed, will be a winning combination.”

“Joining AVI Systems presents many opportunities for both companies,” said Dale Gayman. “The AV industry is rapidly changing how educators reach students and we have a solid foundation in this space. Meanwhile, AVI has the infrastructure and ability to serve organizations throughout the United States. As a single entity, we’ll help make AVI a powerhouse in the education market.”

Cherry Tree’s Role:

Cherry Tree was engaged to assist CIM Audio Visual and its shareholders in identifying the best partner to help the Company achieve its next phase of growth through a sale of the business. Cherry Tree’s role included preparing evaluation materials, introductions and discussions with numerous potential partners, soliciting proposals, negotiating terms of the purchase agreement, supporting due diligence, and facilitating the closing of a transaction. It was especially important to the shareholders and management team that the process was well planned and efficiently executed, to not disrupt the core business operations, and to complete the transaction in a timely manner.

About CIM Audio Visual:

About AVI Systems: