Ann: Parkway Acquires Tankweld Group, page-30

I have no idea why the vendor sold but it is an attractive out for him. He has sold and retained a position where he can make $1m a year for next 4 years if he hits targets. He has around $3m?. Maybe he just saw PWN as a good fit with a huge upside for his business. No doubt PWN can bring a lot more to this company and maybe he sees this as attractive and can still play a part in a much rejuvenated company. If he believes the PWN story he may be keen to take 30% of his bonuses in shares as is an option. Plenty of business owners around his age are looking for a better lifestyle. Maybe he owns the premises and is happy to collect rent. Who knows?
I like the deal. It is what Bahay said last year he was going to do and he has done it. PWN is now a much higher revenue company with no increased debt and more importantly a clear runway to offer a full service to clients from technology to equipment to installation. If we look at how he has grown PWN from nothing moulding Tankweld into a stream lined, fit for purpose compliant company will be relatively easy.
I am excited about the future. There is no doubt a nice signed contract should be a game changer and everything they have done so far is a step closer. Patience!