Heartland Ag Inc.
Paula and Jerry Pollart, the owners of Heartland Ag, acquired the Company in 1994 and built it into one larger and more successful than they ever dreamed. When it came time to move into the retirement phase of their lives, after careful consideration they decided to sell the business to an outside buyer. This was not a simple task considering the cyclical nature of the agriculture industry as well as the need for any acquirer to be approved by Heartland's key vendor, Case IH.
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The Pollarts enlisted the services of CFA's Jim Zipursky and his team, who lined up a number of qualified potential buyers and assembled a group of professionals to handle the legal, tax and estate issues such a sale would create. The Pollarts accepted an offer from HA Holdco and Case approved the transaction. The sale was completed in August, 2010. The buyer inserted its own management team and Jerry and Paula expect to be fully retired within a year, a reasonable transition period. The legal side of the transaction came off without a hitch with the proceeds fully protected. CFA was able to solve all of the Pollart's exit goals.
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