Closed Deal: Cabinet Manufacturer

Acquisition of Texas Unique Custom Cabinets by Elite Design Holdings

International Business Exchange (IBEX) is pleased to share the news of another successful closing. IBEX is honored to have served as the exclusive merger and acquisition advisor in the acquisition of Texas Unique Custom Cabinets (TUCC) by Elite Design Holdings (EDH).

Mike Miller and Jeffrey Elder were contacted by TUCC in December 2021. In May 2022, IBEX started the introduction to the valuation process with BKA Valuation. In June 2022, the valuation was completed. IBEX officially engaged with TUCC in June 2022 with execution of a listing agreement. IBEX received EDH contacted IBEX about the opportunity and the first buyer/seller meeting was held in late July 2023. The initial letter of intent was received in August 2023. Most of the next month was focused on the buyers finding the right lender. We introduced several bankers to the sellers including Live Oak, Comerica, Diamond Financial, Gulf Coast Bank and First Internet Bank. EDH talked to all the lenders referred by IBEX. Because Comerica offered a fixed rate option for the real estate and the business purchase loan, EDH chose them. During this time, Mike and I coordinated several conference calls with TUCC and EDH.

IBEX and EDH initiated dialog with Mike Reiner at Comerica Bank in October 2023 to begin the bank underwriting process. John Park from San Antonio was the lead on the SBA Comerica program. IBEX received the first draft of the purchase agreement to start the legal process. In November 2023, IBEX introduced 4 attorneys to TUCC, Brenda Atkinson, Mark Avery, James Rosenblatt, and John Ferguson. IBEX coordinated discussions with all the attorneys by phone and TUCC chose Brenda Atkinson to represent them.

The goal of closing was by the end of the year, 2023. Both sides spent the remaining November and December going back and forth on legal documents, bank due diligence, working capital calculation, inventory, work in progress, purchase price allocation, title commitments, state tax requirements and other closing items. The negotiating and settling of these outstanding issues caused delays and the transaction rolled into 2024. In early January 2024 all agreements and documents were all finalized. At that point, the bank started turning everything over to final underwriting at Independence Title and the SBA. The transaction was completed, February 5th, 2024.

We’d like to express our gratitude to everyone who helped make this transaction a success. Some of the professionals involved in the closing were Buddy Francese, David Adair, Mike Reiner and John Park at Comerica Bank, Eric Boyce and Tom Kelner at BKA Valuation, Seller attorney Brenda Atkinson, Buyer attorney Adam Stahl, and Amanda Copley at Independence Title. There were many IBEX team members and other professionals along the way. We thank all that participated in process.

If you’re interested in learning more about this transaction or would like to visit about selling your company, please contact IBEX. You can trust in over 40 years of experience to best answer your questions and concerns. 

Jeffrey Elder| Advisor
IBEX Business Exchange | M&A Advisors
512-531-6112 – Office Direct

International Business Exchange (IBEX) is one of the oldest and largest independently run M&A advisories in the US, helping owners and executives transition their businesses or transition ownership since 1979. Our team of five advisors collectively have more than a century of corporate leadership at Fortune 500 and middle market companies. More importantly, IBEX advisors have executed hundreds of transactions as both corporate executives and third party advisers. Our sole job is to see you from listing through close, helping you walk away with top market value for your life’s work. IBEX is belongs to the International Business Brokers Association (IBBA), Merger and Acquisition Source and the Texas Association of Business Brokers (TABB)

IBEX is a member of the International Business Brokers Association, Merger and Acquisition Source and the Texas Association of Business Brokers. Mike Miller ( and Russ Goforth ( have been with IBEX a combined 35 plus years. Mike Miller has served as the President of Texas Association of Business Brokers and assisted in national legislation regarding the business acquisition industry. Jeffrey Elder was recognized as a Chairman’s Circle recipient by the International Business Brokers Association in 2017, 2018 and 2019.

Prior to purchasing IBEX, Chuck Harvey spent 35 years as CEO, CFO and consultant to the Fortune 500, Middle Market, Mainstreet and in the Start-up community, including spending time at PepsiCo & Price Waterhouse Coopers. During that time, Chuck oversaw three dozen buy-side / sell-side transactions on three continents, including a $35M sale of a Texas digital photography pioneer to a $1 Billion Japanese conglomerate.

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