The Company
Direct Refrigeration Sales (“DRS”), founded by Tim Litsch, provides a high quality alternative to OEM replacement parts for the refrigeration industry. One of their primary parts is a gasket that seals a refrigeration unit when closing the door and ensures the contents remain cold and intact inside the unit. DRS products are of such quality that even several OEMs in the food service industry source with DRS for their replacement parts.
The Situation
In 2026. Tim and his team were approached by a global company wanting to make a strategic acquisition to make it a more significant player in the refrigeration market. A letter of intent with an offer was provided to Tim for consideration, and after negotiations, DRS accepted the offer that launched the due diligence process.
The Solution: Numbers Coach M&A Services
Mike Iverson, the Numbers Coach, had been providing financial leadership and coaching to the team at DRS since early 2016. As part of his coaching process, Mike encouraged the leadership team to create a financial and administrative foundation that would provide solid financial options for the future, whether that was selling to a third party, selling internally, or continuing to grow.
After the team made the decision to consider the buyout offer, Mike played a key role in advising and coordinating financial due diligence activities, including providing forecast and supplemental financial information the DRS team had already been using in their Numbers Coach sessions. The parties wanted to accelerate the due diligence process within a time frame to meet the buyer company’s targeted regulatory filings.
The Results
The Numbers Coach team was able to efficiently and effectively pull together the required financial and non-financial information to meet the due diligence processes and deadlines. This was made possible from Mike’s coaching around DRS’s financial reporting systems and best practice accounting.The well-organized financial, administrative, and HR information at DRS, along with the guidance from Numbers Coach, was essential to completing due diligence in time to meet the deal’s closing deadline
Learn more about this acquisition: https://www.directrefrigeration.com/press-release/
Learn more about the Numbers Coach financial coaching services.
“Mike has been an integral part of the DRS team. His solid understanding of our business and its needs for financial reporting, combined with his orderly and disciplined approach to financial reporting and accounting were instrumental in positioning DRS for a successful exit. He is such a pleasure to work with and remains a key player on our team as we move forward.” Tim Litsch, Founder / CEO