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Turnkey Technology

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VonLehman is pleased to announce the sale of Turnkey Technology to Pavion, (formerly Corbett Technology Solutions, Inc. “CTSI”), a leading provider of integrated solutions for fire, safety, security, and critical communications.  This sale supports Pavion’s expansion through the U.S. Midwest bolstering its fire, security, and integration capabilities in the geography. It is the twelfth acquisition for Pavion since partnering with Wind Point Partners (“Wind Point”) in June 2020.
VonLehman served as the exclusive investment banker to Turnkey Technology.

Turnkey Technology

Based in Cincinnati, OH, Turnkey Technology was founded by Eric Anevski in 2016. Turnkey is a leading security and communication systems integrator in North America. The Company offers an array of security technology integration services such as the implementation of video surveillance, security systems, access control, structured cabling, and fire safety systems. Turnkey serves customers in the education, municipality, corporate, and healthcare end markets.

The Transaction

Turnkey Technology’s sole shareholder, Eric Anevski, was presented an unsolicited offer for his company in October 2022. Unfamiliar with the M&A process and a fair market value for his company, Eric engaged VonLehaman’s Mergers and Acquisition team to deliver valuation guidance and assist in discussions with the existing potential buyer. Ultimately it was confirmed that the Company’s value eclipsed the proposed offer. VonLehman’s deal team then constructed and distributed marketing materials to newly identified possible buyers, negotiated several offers, and ultimately transacted at an enterprise value exceeding the original unsolicited offer. In addition to maximizing value, an expeditious timeline was a chief concern of the seller, a challenge VonLehman’s M&A team met by consummating the transaction in less than five (5) months from its initial introduction to the Company.

The successful partnership will allow Turnkey to benefit from Pavion’s expansive customer network and the ability to expand into new markets, amplifying growth in its core business. The partnership is poised to provide Turnkey and its employees the resources to accelerate their growing market presence.

The Seller

Turnkey Technology founder, Eric Anevski, had the following words about his partnership with VonLehman’s M&A Team:

“Working with the Vonlehman team made a typically complex process smooth and efficient. Vonlehman demonstrated exceptional knowledge of our space and expertly used our unique market position to achieve a value for our business exceeding expectations. Their team provided accurate and calming guidance through a stressful process. VonLehman should unquestionably be your first call when you are beginning to consider selling your business..”

The Buyer

Pavion Connects and Protects by providing fire, security, and communication integration solutions to customers from 48 U.S. locations and 22 countries. The company brings industry-leading experience to clients in the enterprise, healthcare, education, government, data center, and retail industries. Its mission is to bring clarity and transformation to safety, security and communication through technology and radical service.  Pavion is a portfolio company of Chicago-based private investment firm, Wind Point Partners. Wind Point’s 23 investment professionals have raised over $5 billion in commitments and acquired over 400 companies since its 1984 inception.

For more information contact Ely Friedman, Director of M&A with VonLehman CPA & Advisory Firm at efriedman@vlcpa.com.

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