Small Business Start-Up to Successful Acquisition with Free Vector Advisors
Fred Oligschlaeger always had a knack for innovation. “I don’t know why, but ever since I was a little kid, I’ve just invented things,” he reflects. That natural curiosity—and a passion for problem-solving—eventually led him to found Spraytronics LLC in 1993.
A Simple Problem, A Powerful Solution
While working with a company that outfitted de-icing trucks for the Department of Transportation, Fred noticed a dangerous and wasteful flaw: traditional spray nozzles left a 30–40-foot section of road untreated whenever the truck stopped and started. That gap resulted in the needless waste of expensive de-icing fluid, inconsistent coverage, and could mean the difference between safety and catastrophe.
Back in his garage, Fred developed a deceptively simple yet highly effective solution—the Variable Orifice Nozzle. His design ensured consistent spray pressure from the moment the truck moved, significantly increasing coverage efficiency and reducing costs, eliminating dangerous gaps and significantly enhancing roadway safety. But the innovation didn’t stop there. His nozzle design found applications not only with the DOT but also in airports and industrial farming equipment. The product worked so well that it didn’t need aggressive marketing—word of mouth and performance did the job.
Six Patents, One Mission
Fred secured six patents for his nozzle design. While the patent process was grueling and expensive, it laid the foundation for Spraytronics’ long-term success. Yet, it wasn’t always easy. “It’s hard to sell people something they don’t know they need yet,” Fred noted.
With grit, determination, and a few cross-country road trips from Snohomish, Washington, to New York, Fred educated and converted leads into loyal customers. Advertising budgets remained low, but credibility soared as clients saw the results firsthand.
Keeping Ideas in House While Product Success Skyrockets
Despite growing demand, Spraytronics never left the garage. Fred preferred to maintain control over his invention rather than scale for scale’s sake. “I wouldn’t have done it any other way,” he says, smiling. The company remained lean, efficient, and upheld deeply personal traits that ensured it supported Fred and his wife, Barbara, for decades.
Expert Business Exit Strategy with Free Vector Advisors
As retirement approached, Fred knew he needed a partner to help navigate the complexities of a successful business sale. Enter Free Vector Advisors.
Unlike previous attempts to handle transactions on his own, Fred engaged Free Vector Advisors early in the process to lead a comprehensive pre-exit strategy. Their role extended far beyond brokering the deal.
- Conduct detailed financial due diligence: Guiding Spraytronics through a simulated due diligence process to identify and proactively address any gaps in contracts, compliance, or financial records, making the actual buyer due diligence smoother and implementing “better or best” business practices to simultaneously increase the value of the business to a buyer and reduce the risk of the business.
- Build a robust business plan and financial model: Developing a clear narrative and financial projections that explicitly contemplate acquisition, helping clarify Spraytronics’ value proposition to potential buyers.
- Establish credible valuation metrics: Providing an initial valuation and an adaptable model, ensuring Fred was ready to evaluate offers against clear benchmarks and get the best price from potential buyers.
- Identify and vet potential buyers: Leveraging their network and expertise to find the right strategic acquirers who aligned with Spraytronics’ vision and values.
- Negotiate business and legal terms through closing: Expertly handling the intricate negotiations to ensure Fred and Barbara were fully prepared, positioned, and protected throughout the transaction and to ensure peace of mind after the transaction closed.
Free Vector Advisors’ extensive experience and proactive business exit and sales services ensured that Fred and Barbara were fully prepared, positioned, and protected throughout the transaction.
“We didn’t want to go through that again,” Fred said, referring to prior transaction challenges.
“We certainly chose the right person this time!” Barbara added enthusiastically.
Thanks to Free Vector Advisors, Spraytronics was successfully acquired by Nozzleworks, Inc., a manufacturer that shares Fred’s values of quality and innovation.