our client stories
Katherine’s search began almost 13 months before she closed on her acquisition of Your SolarMate, and SMB Law Group’s involvement began almost that early. Katherine reached out to our partner Kevin Henderson in early 2022 to discuss a cannabis-related business she was looking at, given Kevin’s unique experience representing cannabis companies.
While she didn’t ultimately pursue that company, that phone call began a months-long relationship that culminated in her engagement of SMB Law Group to navigate her eventual closing in February 2023 of Your SolarMate. But Katherine’s journey to the closing table was anything but ordinary.
Over that same time period, Katherine (1) went under LOI on a different deal that fell apart several months into the transaction, (2) married her fiance of 3+ years, (3) served as a child advocate in court proceedings for a girl in foster care to help her piece her life back together and navigate enrolling in college, (4) visited Yellowstone for the first time and went on 2 cross-country trips with her wife and dog, and (5) trained over 100 students and professionals in financial modeling and valuation.
In the days leading up to closing, Katherine posted on Twitter: “Search can be very challenging and sometimes all-consuming. It’s important to remember that life is multifaceted – enjoy the process!”
Katherine’s search, while full of all of these ups and downs, culminated in an early February closing that involved a full SBA 7(a) loan and pari passu loan, an equity raise, and a sizable seller note. We couldn’t be happier for Katherine and look forward to the continued success of Your SolarMate with her at the helm.
Traction Capital Partners is a small, focused private investment firm located in Seattle that focuses on acquiring family-owned, strategically positioned businesses in the western states.
When SMB Law Group was first introduced to the Traction team, they had already acquired and invested in 4 businesses since 2018 but were looking for new legal representation that was affordable, efficient, and exclusively focused on small business acquisitions.
When we had our first phone call with Traction’s partners, however, we had no idea our new relationship would culminate in two closings in the same week in early January 2023! Of course, that wasn’t the plan when originally pursuing the two target businesses, but sometimes things align in the strangest of ways.
Traction’s first acquisition, a road construction business, was targeted as a complementary business to Tony Lind Paving, a Traction portfolio company since June 2021.
In contrast, Traction’s second acquisition was a water, fire and mold damage restoration franchise, representing a new business line for Traction, and its first franchise acquisition.
Both transactions presented unique challenges, including structuring complexities and franchisor negotiations, but the challenges were worth it and culminated in back-to-back closings of both deals, representing, in the aggregate, over 40% growth in revenue and cash flow and almost 100% growth in employee headcount for the Traction portfolio.