Chris Redmond, Co-Owner
JBC Steel Products
I have known John for 25 years. He assisted us with strategic plans when we were moving toward a leveraged buyout of the company that employed us. The plans worked. He continued to assist us periodically when our business would hit a low spot. When our bank lowered our business line of credit well below what our needs were, he negotiated a line of credit with a new bank that allowed us to not only survive, but enter into a new growth period. If the improved cash flow had not occured, our company may have failed. He continued to assist us with strategic planning. He was very supportive in the counceling and assisting us in any manner we needed. When we decided to sell our company, he aligned with a partner and they were successful in bringing in buyers. We were very pleased with the entire process of selling the Company.
JBC Steel Products was formed in 1975. A design and fabrication company that produces steel staircases. Chris Redmond was one of the first employees. He and his partner bought the company from a Houston Corporation in the 1980's.
John advised them on the techniques of making a leveraged buyout. They were successful in utilizing the strategy.
John was asked to advise them again in 2005. Their interest at that time was to improve the value of the company and determine it's market value. We worked through 2005 and 2006 to put the company on a path to success. We then provided a Third Party Valuation. We entered into a Contract to offer the Company for Sale. Several interested buyers were brought in during 2007. An offer was made at a level deemed acceptable; but, the company was doing so well that they decide not to sell. The Company continued to be successful for the next three years.
John was asked to provide assistance again in late 2011. A new consulting contract was signed in March of 2012. The contract included general consulting on every aspect of the company. A major element of the contract was a Three Year Strategic Plan that would take the company to a stronger market position. That plan was implemented. The path of the Company was definately on an upward trend. We negotiated some additional financial support (a 67% increase in the operating line of credit) from a new Bank and developed another alternate source of funds. The Strategic Plan allowed Chris and his partner to decide what they wanted to do in the future and allow them to make the decision on how and when they would exit the business. They entered into a Broker's Opinion to establish Company value. They agreed to enter into a Broker's Agreement with Associates of Dallas and a partner to go to the market and sell the company. The Sale was satisfactorily completed.
Jeff Adam - President
Adam Noble Group
I have worked alongside of John on multiple engagements. John is a seasoned and successful business owner and entrepreneur. He has impeccable integrity and can drill down to help improve a business. I have also been impressed by John's charitable and philanthropic work! I consider myself fortunate to include John amongst my colleagues and friends. I strongly recommend John to any business owner seeking to significantly improve their enterprise and its valuation.
Tom Daniel, President, CFO and Director (retired)
Tom contacted Associates of Dallas in 2009. A meeting was held with Tom, who was President at that time, and another senior member of the Board of Directors.
They wanted to take take Soul's Harbor to a "New Level". Following several discussions, Associates of Dallas made a proposal to:
Patrick Frank, Senior Partner
Fiedler Akin - Attorneys at Law
John has known Patrick Frank since the early 1980's. He was the Corporate Attorney for Electronic Flo-Meters Inc. and participated in preparation of legal documents for the sale of Electronic Flo-Meters Inc. to Tokheim. John negotiated directly with the Chairman of the Board. Pat continued to handle John's business legal matters. They were very successful as a team. He has been involved in several of Associates of Dallas contracts with clients. He has observed the scope of John's business experience and knowledge. He has observed John in action and monitored his results.
In recent years, he has recommended Associates of Dallas (AOD) as a source of business knowledge and strength to other clients. In 2010, he referred a large client to AOD and AOD continued to work with the client to early 2013. AOD provided a Third Party Valuation of the Company and an outline example of a Strategic Plan. The company signed a Broker's Agreement and tested the market. Buyers were brought to the table; but, the owner's elected to continue to grow the company.