Sold Businesses in NY, CT, NJ, MA – Synergy Business Brokers

Below is a small sample of some of the recent businesses we have sold in NY, CT, NJ, MA

Electronic Health Records (EHR) Software Company in Putnam County, NY
We contacted a variety of potential buyers and received multiple bids which allowed us to get the full asking price for this business opportunity. We had bids from software companies and private equity groups that were located in Canada, Europe, California, and the Washington DC area.  The full price offer came from a Canadian software company that was motivated to move quickly and had financing in place. The business sold for $3.4Million.

Engineering Business in Bergen County, NJ
The majority owner of the business was in his 60’s and was ready to transition into retirement and the minority partner was 50. They decided that the best option would be to sell the business and have the minority owner work for the new acquiring company. We introduced several potential buyers and received multiple offers on the business.  The best offer was from a large construction company with multiple offices that wanted to expand their capabilities to provide engineering services. The construction company provided an employment agreement for the minority partner and terms of the deal that satisfied all parties. The sale price was $3Million.

Home Health Care Business in Litchfield County, Connecticut  
Business that provides Home Health Care Aids to hundreds of elderly clients. We were able to introduce multiple buyers to the seller and obtained several bids. We negotiated the best terms and assisted the buyer in obtaining financing for 90% of the purchase price with the seller providing financing for 10% of the price. The buyer has a Nursing Aid business and wanted to expand his services to provide home health aids.

Water Treatment Services Company in Boston, MA Area
Family owned business for over 50 years, being sold by the 2nd generation owner.  The business designs, develops, installs and services water treatment systems to all kinds of organizations in MA.  We had several potential qualified buyers who made offers on the business opportunity so the seller was in a position to determine which buyer was the right one to carry the business forward.  After some due diligence by both buyer and seller, both sides were confident that they had the right fit.  The seller has a one year employment agreement to ensure that the transition to the new owner will go smoothly.

Marketing & Management Consulting Company in Westchester County, NY
The company provides a full range of advertising and marketing and management consulting services.  We had multiple potential buyers and the owner didn’t want to retire immediately so he decided to sell 50% of the business and stay on and work with the new owners for several years and increase the value of his remaining 50% ownership.  The initial half of the business was sold on a full asking price business value of $3.2Million.

Cosmetics Manufacturing Lab in Passaic County, New Jersey 
30 year old cosmetic lab with a full line of products for the beauty industry. They also did contract manufacturing for other cosmetic companies. We located an out of state synergistic buyer that saw the value in the business for sale and wanted to add this to their existing operations. We were able to get a signed contract within 3 1/2 months from when we started working with our client.

Technology Company in the Security Industry on Long Island
Seller did not want to sell to a direct competitor and was concerned about confidentiality. As with every listing we had potential buyers sign confidentiality agreements and contacted buyers that were in the industry, but not direct competitors, and also companies in related industries that could leverage the technology and customer base. We did receive multiple offers on the business for sale and ultimately the best buyer that was able to move forward in a timely fashion came from someone outside the industry. Sale price was $1.75Million.

Land Surveyor Business in New York City  
Two owners were ready to retire after working together for many decades. We were able to introduce two Surveyor companies that were very interested in the business. We went with the company that gave a full price offer of $1.2Million. The sellers will stay on after the sale to help with training and transition of the business.

Driver Education Company in Westchester County
Driver Education company providing driving lessons to schools and private individuals. We executed a marketing plan that involved internet advertising, mailings, phone calls, and networking. Received multiple offers for this business opportunity. The business sold to a Private Equity Group for $1.3Million.

Civil Engineering Business in Suffolk County
Owner was in his 60’s and was ready to transition into retirement. We introduced several potential buyers and received multiple offers on the business.  The best offer was from an Architectural firm that wanted to expand into providing engineering services and also get an office in Suffolk County where some of their clients were. We were able to negotiate a deal that worked for both parties where the seller would stay on after the sale to help with a transition.

Insurance Brokerage in Bergen County, New Jersey
The owner of this business was quite firm in stipulating that he would have to get “top dollar” in order to sell several years sooner than he had originally planned. Although our marketing campaign attracted dozens of potential buyers, we spent considerable time qualifying them so that the seller would not have to spend his valuable time interacting with buyers who were either unable or unwilling to meet his pricing target. After winnowing the large field of buyers to only a handful that we introduced to the seller, we negotiated a price that was significantly higher than the prevailing price for comparably sized brokerages. Moreover, we achieved this despite the fact that the brokerage’s commissions had declined in recent years.

Landscaping Business in New York
Seller wanted to retire and had previously hired another broker that was unable to get them the price that they were looking for. We were able to introduce multiple buyers including some other large Landscaping companies that were looking to expand. However the highest offer that was acceptable to the owner came from an individual from Pennsylvania that did not have experience in Landscaping but was interested in moving back to New York and buying a NY based business. We arranged bank financing so the seller only had to provide 10% of the price in the form of seller financing and 90% of the price was paid at the closing with the bank providing 70% of the price and the buyer 20%.

Cleaning & Janitorial Supplies Distributor in Nassau County, NY
Prior to contacting us the Owner had used another business broker for over a year and half to try to sell his business.  After the owner contacted us we were able to locate a qualified buyer within 10 days and have an accepted offer within 20 days.  A contract was signed in 6 weeks and the deal closed 10 weeks from our first phone call with the seller.  The owner was in his 60’s and thanked us for allowing him to retire after a brief transition with the new owner.

Import & Distribution Business in Westchester County 
The seller had built up a successful business over the years importing goods primarily from China and distributing them to their US customers. He was ready to retire at age 68 and interviewed a couple of business brokers to represent him and chose Synergy Business Brokers for our comprehensive Marketing approach. We were able to provide him with 3 offers and he sold the business for full asking price. The seller will stay on after the sale for a couple of months to provide training and a transition.

HVAC Company in Middlesex County 
They provide installation and service of Heating, Ventilation, and Air Conditioning systems for commercial and residential customers. They also provide energy rating services that allow their customers to use energy more efficiently. In addition to conventional HVAC systems they provide installation of solar and geothermal systems. The owner of the business was eager to retire and relocate overseas to the country where he grew up. We were able to introduce a buyer to him within a week and close the deal in 3 months. The seller will stay on for a couple of months to help with the transition before he moves overseas.

Supply Chain Software Company with Patented Reverse Auction technology
Their technology allows their customers to reduce their costs with their suppliers. We were able to locate several potential buyers and the best offer came from an Asian software company that was in a similar business and wanted to get a foothold in the US Market.

Education Business 
The sellers had a profitable business and weren’t in a hurry to sell but would sell if they got the right terms.  We received multiple bids on the business and they accepted an offer for $900,000. The buyer did not need outside financing. He put down $630,000 from savings and the seller financed the balance over 5 years.  The seller will stay on after the sale to provide a smooth transition.

Unique Manufacturing & Fabrication Business 
Provided custom and off the shelf products to distributors and direct to consumers. The business had been previously listed with multiple business brokers. We were able to find the right buyer for this niche manufacturer and close the deal.

Health Care business that provides Psychotherapy, Physical Therapy and Occupational Therapy 
We had several inquiries and sold the business to someone that had experience in the industry and was able to bring their expertise to the business with the help of a transition from the owner to insure that ongoing care was provided to their patients.

Internet Dry Cleaner Business Based in New Jersey  
Internet Dry Cleaner business based out of New Jersey servicing customers in NYC and New Jersey. We located a buyer that had an existing Dry Cleaner plant and could leverage these retail customers with his current business. Seller wanted to take some time off from working the business and was able to do so after completing the sale.

Asset & Facilities Management Software Company 
This software company provided asset and facilities management software products and services to government and utilities. The seller wanted the stability and steady income of working for a larger company. Sold the business to a Mexican technology company that wanted to buy an established US business to give them a presence in the US. Seller is now heading up their US operations on a salaried basis after cashing in his equity in the company.

Home Care Franchise in Fairfield County, CT
The seller was busy with a full time job and didn’t have time to devote this business. We located a buyer that had time to invest in growing the business and was able to get an exclusive territory and on going clients.

Engineering Company
Business that specializes in providing engineering services to large telecom companies. 60% of the company’s revenue was from AT & T. We contacted hundreds of engineering firms to get some companies that were comfortable with submitting an acceptable offer on a company that relied so heavily on one customer. We were able to get about 20 to sign Non Disclosure Agreements and 3 submitted offers. We closed on a deal for $1.1Million that was close to the sellers asking price of $1.2Million. The buyer was a larger diversified engineering firm that wanted to provide additional services to new clients.

Publishing Business 
Publishing company with many years in business was quickly sold to an overseas buyer who was looking for a solid business, combining both ease of operation with  potential expansion possibilities. Contract was signed within 45 days of listing the business for sale.

Email Marketing Software Company
We had a  number of potential buyers and ultimately the best offer was from a public marketing and communications company that saw an opportunity to leverage the proprietary software of our client. They will keep the owner of the company on for a period of time after the sale to help them make the best use of the technology, clients, and staff of the company.

Engineering Company in the Hudson Valley, NY
We had multiple offers on this business opportunity.  One of the offers was from an Architectural firm that wanted to expand into Engineering to provide a wider range of services to their clients. The other offer was from an Engineering company that wanted to expand their range of engineering expertise and capabilities from the potential firm they were interested in acquiring as well as picking up long term clients from the firm.  We negotiated back and forth with a variety of terms from both parties. Ultimately the other Engineering firm came up with the most favorable terms by agreeing to assume the sellers debt in addition to a purchase price.

Internet Wine Business in Rockland County, NY
Business that derived the majority of its revenue over the Internet.  We located the right buyer that appreciated the internet business but was also willing to operate a retail store with walk in customers.

Insurance Brokerage 
Owner was interested in retiring. We had multiple offers on the business for sale and the ultimate buyer was another insurance company that wanted to expand their book of business.

Printer & Copier Business 
The seller had purchased this established business 5 years ago and wanted to focus on another internet business that he had. We found a buyer for the business who got along well with the seller and the seller will stay on after the sale to help out with a transition. The buyer is interested in purchasing other printing businesses so if you own a printing business and are considering selling please contact us.

Electronic Medical Records (EMR) Software Company in Morris County, NJ
The  owner of this successful software company was ready to retire.  We located a number of potential buyers and the best offer came from an experienced software executive.  We negotiated the terms and kept the deal on track through due diligence to close the deal.

Car Wash in New York City 
2 Year Old Car Wash located in Busy Urban Area. Long Lease.

Wine Store in Scarsdale, NY 
The owner was tired of commuting over an hour each way so we located multiple buyers and had several offers. The seller ultimately sold to a buyer with experience in the Wine industry that had never owned his own business before and wanted to be his own boss.

Kitchen & Bath Business
Established Business that sells and installs Kitchen & Bath fixtures, tiles, etc. Owner wanted to retire. We were able to locate several buyers both within the industry and outside the industry and the buyer ended up being someone from outside the industry.

Point of Sale Computer Hardware & Software Reseller 
This company had a specialized niche and we were able to locate a buyer that was a public company that wanted to enter this market.  The business was sold for the full price that the seller wanted.

Ecommerce Business 
Sold products nationwide and built up extensive email list that they used to develop long term repeat customers. We located a buyer and arranged the financing so that the seller was able to get paid the full price at closing without the need to provide any seller financing.

Engineering & Survey Business in Orange County, NY
Owner was in his 60’s and was ready to transition into retirement. We introduced several potential buyers and the business was ultimately sold to another larger Engineering firm in New York City that wanted to develop their Surveying business and to diversify their Engineering offerings. Seller also signed a 4 year employment agreement which allowed him the option to retire earlier than the 4 years if he so desired.

Wine & Liquor Store in New Rochelle, NY
A national business brokerage firm tried unsuccessfully to sell this business before the seller turned to Synergy Business Brokers. We were able to quickly locate a buyer willing to pay the seller what they were hoping for.

Computer Solutions & Services Provider
Company specializing in providing computer solutions including hardware, software, and services to the Education market. Seller wanted to concentrate on running another business and we sold the business to another IT professional that wanted an additional revenue base and clients to cross sell with his current offerings.

Educational Franchise for Kids 
We were able to get multiple potential buyers for this business opportunity and as a result we were able to get the full asking price for the seller.

Roofing Contractor Business 
Seller was speaking to a buyer that was taking a long time to consummate a deal. We set up a meeting with a new buyer and the deal was closed in a record time of a week from the initial introduction of buyer and seller.

Performing Arts School in Connecticut 
The owner sought our assistance after a potential sale with another buyer fell through. While the optimal buyer needed to be someone with an interest in the performing arts, he or she would also need a solid business management background. Using a combination of direct marketing campaigns and Internet advertising, we found a buyer with the qualifications required to successfully manage and grow this unique enterprise, as he had extensive experience producing large-scale entertainment events, coupled with strong financial management expertise.

Landscaping Business 
As a result of our previous experience selling Landscaping businesses the owner of the business was confident in our ability to represent him in the sale of his business. We were able to introduce multiple buyers and negotiation a sale price and terms that worked for both buyer and seller. The seller will stay on after the sale and be paid a consulting fee with the amount of hours worked decreasing over time.

Wine & Liquor Store
The owner had previously listed the business with another business broker and was getting buyers that were making acceptable offers but took too long and ultimately backed out of the deal. Once we got the listing, we located multiple buyers and helped the owner choose the offer from the buyer that was most likely to go through with the purchase in a timely fashion. The sale was completed in about 4 months from listing the business for sale.

Laundromat
Seller at first tried selling this business themselves but was unable to find the right qualified buyers. Synergy Business Brokers was able to find multiple buyers and closed the deal with a motivated buyer that was able to finance this deal through a home equity loan.

Civil Engineering & Surveyor Company on the Jersey Shore (Ocean County, NJ)
Two partners were both ready to retire and they had some family members in the business so they wanted to make sure they got the right buyer that would take care of the employees and customers and they decided that another larger engineering firm in the NY/NJ area would be the best fit to take over their business. The owners are staying on after the sale to ensure a smooth transition.

Bakery
Bakery in business for 50 years – Seller wanted to semi-retire after 15 years with the business. A young buyer from a family of bakers wanted a place of his own and we put the two together.

Interior Design and Fabrics business
They provided in home consultations for interior design and provided installation and service. We found a buyer that had experience in the business.

Retail Store in Fairfield County, CT
We sold a specialty retail store that caters to wealthy clients in Lower Fairfield County, CT.

Wine & Liquor Store
The owner had unsuccessfully tried to sell the store themselves and then tried a realtor that they knew to sell the business and they didn’t understand the nuances of selling a business. Finally when Synergy Business Brokers got the listing we were able to get them multiple offers after a month and we sold to the highest bidder.

Awards & Promotions Business
Selling retail trophies & promotions directly to country clubs and businesses for awards and promotions. Owner was ready to retire. Buyer was looking for a business that had a long track record and seller that was willing to help him transition his relationships.

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