The YMCA of Metropolitan Milwaukee
A Milwaukee-based YMCA locations was looking to sell four of their suburban health and fitness facilities to a neighboring YMCA association.
The YMCA of Metropolitan Milwaukee wanted to focus on their inner city facilities and youth programs. It was very important to both the YMCA mission and its membership that these locations continued to operate as YMCAs. They had an offer on the table to sell the four locations to a neighboring YMCA. They met resistance from parties-in-interest who felt that there was a possibility an outside organization might be interested and/or willing to pay more.
Equity Partners was retained to quickly and thoroughly test the market to confirm that the bids in place did result in the highest and best value for the estate. Equity Partners conducted an intensive marketing process that resulted in speaking to over 150 groups (both YMCAs and non-YMCA organizations) about the opportunity. 16 outside groups proceeded to conduct due diligence.
None of the groups that conducted further due diligence thought it made sense to outbid the offers on the table. This confirmed to all parties-in-interest that the bids in hand were the highest and best value for the estate. All sales were approved by the court and quickly closed.