News and Resources
Gold Country Advisors’ Recent News
Family-run trucking company played a leading role in transportation of dairy products in California over the past four decades
Newman, CA – September 3, 2024 – Superior Truck Lines, a key player in the daily movement of raw milk and dairy products between farms and processing plants throughout California’s Central Valley, has been sold to California Freight (“Cal Freight”), a division of Sandair Corporation, it was announced today.
Founded in 1986 by Frank Amaral, Jr. and his wife, Olivia, Superior Truck Lines provides mission critical 24-hour-a-day, seven-day-a-week transportation services for some of the largest dairy farmers and processing plants in California. Mr. and Mrs. Amaral were seeking a strategic acquirer that could build on their many years of success, and found it in California Freight, a diversified transportation/logistics provider with a leading position in California’s dairy transportation market.
Frank Jr, now 96 years old, has been in the dairy transportation business for more than 72 years, and has never stepped down from daily involvement in the business. He and his wife Olivia said they are looking forward to full retirement from the business after the sale.
As a family enterprise for nearly four decades, Frank Jr. and Olivia have worked in tandem with their two grown children, Frank Amaral III and Deanie Amaral Azevedo, both of whom have held leadership roles growing Superior Truck Lines to more than 200 employees today.
“Our family has had the great opportunity to have served the dairy industry for many years following the footsteps of our previous generation,” said founder Frank Amaral, Jr. “With this acquisition, we are very grateful that most of Superior’s employees will be able to continue their current employment with the new owners. We are confident that our loyal customers will continue to receive qualified, caring service from California Freight.”
Superior’s founder, Frank Amaral, Jr.
California Freight, based in Ripon, CA, is a diversified transportation and logistics company with a leading presence in the dairy transportation in California. Jim Aartman, Cal Freight’s co-owner and Chief Operating Officer, called the acquisition a “perfect fit”, both culturally and operationally for his company.
“We are honored to be the company presented this opportunity and we are committed to supporting the Amaral family’s move away from the company they have built from the ground up,” Aartman said. “The Amaral family will have the peace-of-mind in knowing their customers will continue to receive Superior service and their employees may have the opportunity to continue their profession with a family-owned and operated company to which they are accustomed with little to no disruption.”
Though Superior’s trucks and employee uniforms will changeover to the California Freight name, Aartman said it will otherwise be business as usual through the ownership transition. The acquisition was effective September 1st.
California is the largest producer of dairy in the United States, having surpassed Wisconsin in 1993. The state is ranked first in the country for the production of milk, butter, ice cream, nonfat dry milk, and whey protein. Analysts estimate that the state is home to over 1.7 million dairy cows across 1,500 dairy farms; and that one in five cows in the United States are found in California. An estimated 33% of all U.S. dairy exports are from California.
The Amaral Family was represented by Gold Country Advisors, a Folsom, CA, based merger-and-acquisition firm that specializes in the sale of founder-led, family-owned companies. Terms of the transaction were not disclosed.
For questions or further details, please contact Jim Aartman of California Freight at (209) 599-5018.
With the Acquisition of this Folsom, CA Utility Consulting and Engineering Firm, Qualus has Expanded its Technology, Cybersecurity, and Regulatory Compliance Resources in Support of Grid Reliability and Modernization
Folsom, CA – July 15, 2024 – Gold Country Advisors is pleased to announce that Qualus Corporation, a leading pure-play power services firm and innovator at the forefront of the energy transition, has acquired Linda Rogers & Associates, Inc. (LRAI). LRAI is a specialized advisory, program management, and engineering firm with capabilities in information technology, regulatory compliance, and cybersecurity for critical power infrastructure. LRAI’s experience in electric grid digitization, security, and modernization enhances Qualus’ comprehensive resources in these areas.
Gold Country Advisors, a sell-side merger and acquisition firm in Folsom, CA, represented Linda and Bob Rogers in the sale of Linda Rogers & Associates to Qualus Corp.
Founded 30 years ago by Linda Rogers, LRAI has extensive experience in the design, implementation and commissioning of automation, communication, and integration systems in new and existing substations, supervisory control and data acquisition (SCADA) systems, cybersecurity platforms, and other utility control facilities. The firm also offers advisory services for clean energy initiatives, utility network and operational technology evaluations, and compliance programs to meet Federal Energy Regulatory Commission (FERC), North American Electric Reliability Corporation (NERC), and Critical Infrastructure Protection (CIP) security and reliability requirements.
“We are honored and excited to partner with Linda and the LRAI team. This acquisition is consistent with our strategy to expand our resources and capabilities to provide comprehensive, end-to-end technology and engineering solutions in support of grid reliability and modernization,” said Dr. Hisham Mahmoud, Chairman and CEO of Qualus. “LRAI’s client-centric approach and culture that prioritizes people, quality, and safety, is consistent with our own.”
“We are extremely proud of what we have accomplished over the past 30 years, helping utilities shift to data-driven technologies that have significantly improved operational performance, reliability, and compliance,” said Linda Rogers, founder and CEO of LRAI. “We are impressed with Qualus’ capabilities, resources, and culture, and believe that together we can expand the scale and scope of our services to better serve our clients and provide more professional growth opportunities for our people.”
Click here to listen to our podcast interview with Gold Country Advisors Principal Jeffrey Potts on selling your business. Listen Now
The influence of the Middle Market business sector (businesses with $5 million to $500 million in revenues) in America is staggering.
The Middle Market is one of the most important drivers of America’s economy and yet, it flies largely under the radar. It accounts for a third of private sector Gross Domestic Product (GDP) and jobs, and has been growing, even over the past four “recession” years. If the Middle Market were a country, its GDP would rank it as the fourth largest economy in the world, just behind Japan’s. Clearly, there is a need to better understand this important market sector and provide it with the level of support, attention, and advocacy it merits.
In an eye-opening and informative interview, Principal Advisor Jeffrey Potts of Gold Country Advisors, 23-year veteran dealmaker and Certified M&A Advisor (CM&AA) through the Alliance of Merger and Acquisition Advisors, can discuss:
- What the marketplace looks like today for Mergers & Acquisitions (M&A)
- Why the Middle Market is the nation’s surest best for economic recovery
- How to put a value on your business especially in today’s uncertain economic climate
- Bridging the “Value Gap” for middle market companies—what it is and how it is affecting the current marketplace
M&A is a careful blend of art and science. On one hand it is multi-disciplinary, complex, and analytical. On the other, it is all about people, relationships, nuances, timing, and instinct. These dynamic produces opportunity, coupled with conflict, ambiguity, and challenges, all supporting an exhilarating business ripe for those seeking to create value.
Information about Gold Country Advisors can be found at goldountryadvisors.com or by contacting Jeffrey Potts directly at (916) 673-9778.
Davis, CA – On March 12, we announced to our valued employee team the sale of Davis Ace and Aggie Ace to our friends at Crown Hardware. We are so very excited to make this announcement to our friends and family. As Doby and I approach another decade in age -we know this is the right time and the right people to carry forward the traditions in Davis – a full service hardware store with local ties, local commitment to our community.
Gold Country Advisors, a merger-and-acqusition advisory firm, represented the owner Jennifer Anderson in the transaction.
Mark Schulein and Matt Fales have come together with the Crown team to purchase our business. Mark has succeeded his father, Jeff, as President of Crown Hardware. They have been a family owned business since 1949. I have known Crown for decades. They are a professional, caring, family driven organization. Matt Fales, COO, is a Northern California native who attended University of Cal at Davis where he met his wife. They are truly excited to bring their experience back to Davis. Together with Crown they bring decades of retail experience and a great team of leaders to Davis. Our team will be given more opportunities to grow and expand their skills and knowledge. The Crown team are excited about growing too. They will have a total of 18 stores. They are committed to their communities and to the hardware industry. We know they will continue our traditions and build new ones in our community and for our employees.
Why sell? Why Crown? Our children, now in their 20’s, are firmly committed to their individual career directions. We love our business and have achieved the results we have with our incredible team of employees. We are deeply grateful to our employees. Our customers have been wonderful supporters for decades -through generations. We are so very very appreciative. We know this is the time for us to step aside and we wanted the right team to take over. Doby and I are not fully retiring. We will still be in the Davis community – committed to Davis Ace and Aggie Ace success through Crown. We still own other properties and investments.
The business names will remain, our general operations will remain. Our team is in place to continue to serve you and the Davis community. As we have changed over the years responding to the changing business opportunities-we are certain Crown will also be responsive and change as needed. We believe this is a GREAT future for Davis Ace and Aggie Ace.
We are planning on the final transition occurring in the middle of April. Thank you for your friendship, your support and your business. Please join us in giving a warm welcome to the Mark, Matt and the Crown team as we move forward.
Warm Regards,
Jennifer Anderson and Doby Fleeman
Oakdale, CA – Inter-Mountain Truss Company, Inc., (IMT), a manufacturer of quality
wood trusses, has been sold to Central Valley entrepreneur Jeff McKay, it was announced
today. Terms of the deal were not disclosed.
Majority-owned by Lance Lester for more than 40 years, IMT has been a go-to provider
of wood trusses for custom home builders and commercial developers throughout
Northern California and the Central Valley. Mr. Lester said he plans to assist the new
owner through the ownership transition and retire in the coming months.
“It’s been a great 40-plus year run for me at Inter-Mountain Truss Company,” Lester
said. “The decision to sell is never easy, but the time is right for me to retire. I have been
fortunate to have great employees, vendors, and customers in this business over many
years. I am excited to pass the torch to Jeff Mckay and his team. I am confident they will
do an excellent job of continuing Inter-Mountain’s tradition of putting our customers
first.”
The buyer, Jeff McKay, is a 30-year veteran of the credit card processing/payments
industry and has been involved in the ATM equipment vending business since 1983. Jeff
also owns Jessee Equipment Manufacturing in Chico, Ca, Wholesome Nut Company in
Modesto, California, and Fortress Payment Technologies with offices in California and
Georgia. He is an active elected board member of the Stanislaus Union School District
and previously was a Ceres City Councilman.
Mr. McKay has hired David Johnson to run Inter-Mountain Truss Company. McKay said
of the acquisition: “I am very pleased to purchase this high-quality, locally-run company
with a rock-solid reputation, sound financials, and over 40 years in the truss industry.
Lance has agreed to stay on and train David so that the transfer of the company will occur
seamlessly.”
Gold Country Advisors, a merger & acquisition (M&A) firm in Folsom, CA, represented
Mr. Lester in the transaction.
For more information, contact the buyer Jeff McKay at (209) 985-9900.
Oakdale, CA – June 17, 2022 – Sun Auto Tire & Service, Inc. announced today that it will further expand its footprint into California’s Central Valley with its acquisition of three tire and auto repair stores. The stores, owned and operated for many years by Eric and Cindy Hewitt, are located in Oakdale and the Sierra Nevada foothill communities of Sonora and Arnold, CA.
The stores acquired by Sun Auto include:
- McCoy Tire & Auto Care, 372 W. Stockton St., Sonora, CA
- Oakdale Auto Care & Tire, 811 S. Yosemite Ave., Oakdale, CA
- Arnold Tire & Auto Care, 1183 Cedar St., Arnold, CA
Eric and Cindy Hewitt sold the stores to retire from the business. Gold Country Advisors, a merger-and-acquisition firm in Folsom, CA, represented the sellers, Eric and Cindy Hewitt, in the transaction.
The acquisition follows Sun Tire’s announcement in December of last year to acquire Bruce Tire & Auto Service, an independent tire dealership with eight stores in the San Francisco Bay Area and parts of the Central Valley.
Sun Auto Tire & Service, Inc. is a premier provider of vehicle maintenance, repair and tire replacement serving 17 states. The company continues to expand its presence throughout the United States and is entertaining acquisition discussions with operators who wish to preserve their companies’ legacies while leveraging the benefits of shared resources and technology to grow their businesses.
For more information, contact Jeffrey Potts, principal of Gold Country Advisors, at 916-673-9778.
Gold Country Advisors was recently highlighted in Historic Folsom’s Business Spotlight Series. Read the article here.
Placerville, CA – Sierra Home Alternatives, El Dorado County’s premier fireplace and stove retail and service company since 1997, has been sold to Teamshares, it was announced today.
Sierra Home Alternatives (“SHA”) is a regional reseller, service, and repair business for some of the most recognized fireplace and stove brands in the hearth industry. Founded by Casey Kish and his sister, Parrish Stanton, the brother and sister team have built a thriving business serving El Dorado County residents.
The sale to venture capital-backed Teamshares will allow the owners to still retain a minority stake in the business while offering employees the opportunity to earn stock in the new company. Terms of the transaction were not disclosed.
“We are so glad that our employees, who have made Sierra Home Alternatives a trusted resource for hearth products in El Dorado County, will now have the opportunity carry on the legacy,” said Ms. Stanton. “The Teamshares acquisition model has made this transition possible, giving us a clear path to retirement while providing the Company, through employee ownership the opportunity to experience continued growth and success.”
Teamshares is a venture capital-backed platform that acquires small businesses from owners nearing retirement age and assists them with transitioning the business to employee ownership. All employees of Sierra Home Alternatives will be retained under the new ownership structure and build stock ownership in the company over time. In doing so, Sierra Home Alternatives will continue to be independent, keeping the brand’s legacy and work culture intact.
“Casey and Parrish have built a wonderful business with the help of their employees, said Alex Eu, co-founder of Teamshares. “We are proud to be partners and stewards of the Company as it becomes majority employee-owned over the next decade.”
Gold Country Advisors, a merger-and-acquisition firm in Folsom, CA, represented Parrish Stanton and Casey Kish in the transaction. For more information, contact Jeffrey Potts, principal of Gold Country Advisors, at 916-673-9778.