Even though ABCI Holdings/American Broadsports Co. has tapped Los Angeles-based The Watley Group as its advisor on exploring strategic alternatives, the lead banker cautioned that a sale of the snowboard manufacturer is a good way off. Microcap ABCI wants to build itself back up, said Fred O’ Grim, the Watley banker working on behalf of ABCI. He said ABCI wants to grow via consolidation and plans to close deals with three M&A targets within two months. He added that the companies on ABCI’s radar only generate between $8 million and $10 million in annual revenue. While, O’Grim said an ABCI sale could eventually happen, it’s probably a year away given ABCI’s small size.
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