VR Business Brokers of McKinney, a leader in the sale of privately held companies, recently facilitated the sale of Source Network Sales & Marketing, Inc. to Transition Capital Partners, a Dallas-based private equity firm.
Source Network Sales & Marketing, Inc., based in Plano, designs and distributes the LifeSmart family of products, including infrared heaters, fireplaces, saunas and spas. LifeSmart products are found in-store and on-line with many of the country’s leading retailers.
The owners of Source Network will remain as minority equity partners in the new entity. The transaction, which closed on May 31, was handled by VR intermediary Jeff Goldblatt, a specialist in the VR Business Brokers office located in McKinney. Details of the transaction were not disclosed.
About Transition Capital Partners
Transition Capital Partners is a 20 year old Dallas-based private equity firm investing in recapitalizations and management buyouts of well-managed, entrepreneurial, lower middle market businesses. For more information about Transition Capital Partners, please visit tcplp.com.
About VR Business Brokers
VR Business Brokers is the world’s premier franchised business intermediary firm. With a combination of global strength and local experience, VR’s 32 years of successful business sales through Valued Representation, is the reason more and more business buyers and sellers demand our proven skills and resources to help them succeed in an increasingly complex market. For more information about VR Business Brokers, please call 214-733-8282, or visit vrmckinney.com.