For more than 40 years, Salt Lake City-based Biotron Laboratories and Talus Mineral Company (Collectively “Biotron”) has been a leading manufacturer of premium specialty minerals, trace elements, and other solutions for the nutritional supplements industry.
Manufacturer
After receiving a lot of inbound interests for an acquisition, Biotron’s investment bank, G2 Capital Advisors convinced them that they needed a quality of earnings (QofE) report. Based on the types of parties looking at buying Biotron, and because of the lack of auditing and accounting Biotron had internally, getting a QofE was essential for a sell-side transaction.
With the help from Amplēo, Biotron was able to clean up their financials, merge Talus’ and Biotron’s financials, and became GAAP compliant. After this initial clean-up phase, Amplēo was able to deliver a clearer QofE report that better reflected Bioton’s business and gave them confidence as they went through the transaction process. Dave Johnson, CEO of Biotron said, “Before working with Amplēo, we thought we knew our business, but the work Amplēo provided gave us more confidence during the transaction process because we knew our numbers were accurate and it allowed us to negotiate better with buyers.”
Aceto, a supplier for life sciences and advanced technology specialty ingredients, acquired Biotron Laboratories and Talus Mineral Company on March 2, 2022. Since the transaction, Biotron plans to continue to grow their brand to 50-75 million in revenue.
Dave Johnson, Biotron CEO said, “For valuation and QofE, I think it is invaluable. I wish we would have come to Amplēo six months sooner. It would have helped us have a more complete picture going into the transaction process.”