Langfield Industries — Sold for $3,400,000
In December 2005, the Oakshield team facilitated the $3.4 million sale of Langfield Industries, a massive and highly successful operation with a 70-year history. This transaction remains one of the most significant examples of how Oakshield manages large-scale, multi-divisional businesses while navigating the delicate issue of confidentiality.
The “Secret” Coffee Shop Meeting
When I first met the owner, Ted, he wanted to keep the sale a complete secret from his staff. I met him at a local coffee shop to discuss the strategy, but I had to be direct with him: “You can’t sell a secret.” I explained that when the staff eventually find out, it becomes an incredibly difficult task to manage the transition. Transparency, handled with discretion, is always the safer path. Ted was a professional; he understood the wisdom in that advice and gave Oakshield the mandate to proceed.
The Oakshield Strategy: Internal Opportunity & External Strength
Langfield was a complex machine with four major divisions, each managed by a dedicated professional. Because Oakshield had become a specialist in the electrical contracting sector, my first move was to give the internal management team an opportunity. I offered to assist them with the structuring and finance if they wished to buy the business themselves.
When they declined after a week of deliberation, we took the business to the wider market. We secured a husband-and-wife team who recognised the immense value of the Langfield brand and the $3.4M transaction was finalised.
Total sale price of $3.4m
The Legacy of a 70-Year-Old Brand
The value of Langfield was undeniable. Nearly a year after the sale, the new owners received an offer from a US-based, NASDAQ-listed company that would have yielded a $1 million profit. They chose to hold.
However, the reality of business is that a brand is only as strong as its management. Following the 2008 Global Financial Crisis (GFC), I was called back to sell the business again. By then, the operation had dwindled, though the brand name—a name that had stood for 70 years—still held weight. It was sold once more, and to this day, I still see the trucks passing by, carrying the name of a legacy we worked so hard to protect.
The Oakshield Difference: Protecting Your Life’s Work
At Oakshield, we understand that selling a business isn’t just about the dollar figure—it’s about the transition of a legacy. We specialize in complex, multi-million dollar industrial and electrical businesses because we understand the mechanics of how they run. From managing staff expectations to identifying the right successor, we ensure your exit is handled with the integrity it deserves.