ADVISORY & ACQUISITION

Red Letter Holdings is a private investment and advisory firm focused on acquiring or the managing of manufacturing, service and construction based companies in the lower middle market. The mission of RLH is to build partnerships with business owners who are looking for an exit strategy, reduced role or opportunity for recapitalization and with other private investment firms looking to deploy capital. These partnerships are intentional and nurtured to ensure that all parties involved understand and are comfortable with the structure and process.

FOCUS

Our focus is to identify companies with great products, services, strong customer relationships, and the ability to diversify and scale their current operations organically or through acquisition. The objective is to partner with the current owner or management team to develop a strategic plan for growth and provide the necessary capital and resources to execute that strategy.

INVESTMENT CRITERIA

Revenue of $1 to $15 million

EBITDA or cash flow of $300k to $2 million

Manufacturing / Service / Construction Based

Strong workforce

Scalability

Diverse customer base

BUSINESS

ACQUISITION

In addition to meeting the specific needs of institutional investors, RLH is seeking opportunities to continue the legacy of acquiring closely held companies. The priority is always to connect companies with strategic partners that fit the scope and needs of all parties involved. With this ideal in mind, RLH is looking to acquire companies that fit well with existing operations and management to establish and maintain a professional and productive relationship with both parties’ best interests in mind–and to foster a successful, long-term vision for success.

STRATEGIC PLANNING

RLH relies on strategic planning to evaluate, plan and structure deals. This provides investors a more dynamic, three-dimensional view of the company’s management and insight into the future direction of the company’s products, customers, capacity, risks, restraints, and drivers. This approach allows an investor to deploy capital with clear and specific targets, both immediate and long term, for the direction of the company.

STRATEGIC/MANAGING PARTNER

Many owners, especially those retiring or pursuing other interests, may like the idea of retaining cash flow, but no longer have the desire to be involved in the day-to-day operations. RLH can provide a flexible structure that allows them to separate their equity position from their operational duties. Many owners find it fulfilling to watch their company grow, even while they are enjoying a season of reduced stress and flexibility. This structure is especially useful in companies where the enterprise value of the business is not significantly higher than the current cash flow.

BUY-SIDE ADVISORY

RLH is intentional about understanding the specific needs of institutional investors. As a foundation is built, RLH is committed to providing opportunities that meet investor’s’ unique objectives. In rollup scenarios, RLH will work closely with the investor to identify the appropriate strategy and the right companies to execute that strategy without the expense or opportunity cost of developing a search company.

FOUNDER

TONY MULLET

Tony Mullet founded RLH in 2007 after selling a family owned business to a strategic buyer.  Since that time he has been on both sides of multiple business transactions and, as a result, possesses the unique perspective of all the parties involved in the process.  He understands the logistical challenges as well as the emotional energy involved for an owner who is considering giving up control of their company and is committed to simplifying and personalizing the process. His philosophy that “bigger isn’t always better” is a driving force behind his business model and he is committed to building individual relationships on both the sell and buy side.  

Tony started out in manufacturing and masonry work and carries that blue collar approach to the world of private equity.  He sees himself as a bridge between the institutional investment community and the entrepreneurial business owner who is focused on running his or her business and taking care of their employees.  Best summarized, “The cleanliness of theory is no match for the mess of reality.” (Bruce Herwig)

ENDORSEMENTS

``In 2006, Headwaters acquired Dutch Quality Stone from Tony Mullet and his brother. Tony developed a wonderful company – great products, state of the art manufacturing, and strong customer relations. We could not have been more pleased with the transaction. We found everything that Tony said about the company to be true, and we continue to be very happy with the acquisition. On a personal level, Tony demonstrated a high level of integrity and professional competence and we’ve thoroughly enjoyed our relationship with him.``
Kirk Benson, CEO, Headwaters
``Tony and I served together as advisors and co-investors in a failed venture. I believe you learn more about a person's character when under duress and in this trying experience Tony truly shined. His poise, leadership and integrity were the anchor leading us to a soft landing and avoiding the many disasters that could have easily befallen us.``
Paul Dolan, Owner/CEO, Cleveland Indians
``RLH bought our mining operations in 2009 and I stayed on board to help manage the day-to-day business. They were hands on and engaged, immediately bringing our office management up to date with technology and sound business practices resulting in the business being more efficient. They were also flexible and willing to listen to input we had in the mining operation. They proved to value integrity and were very intentional about caring for our employees. Roll Tide!``
David Powell, Allstate Materials

PORTFOLIO

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RESOURCES

Red Letter Holdings provides resources to investors and sellers.

Please contact us for access to these resources.

SELLER LOGIN

Download a printable PDF overview of Red Letter Holdings’ business by clicking below.

CONTACT US

RED LETTER HOLDINGS, INC.

Mailing Address
P. O. Box 1455
Cornelius, NC  28031

Physical Address
1881 Barber Road
Sarasota, FL 34240

Telephone:  (704) 897-1730

Fax: (866) 521-1505