(ETM Solar was sold to My Solar Grid) ETM Solar sells, installs, and repairs solar electrical and hot water systems for residential and commercial customers. Solar energy, installers of solar panels, Tesla Powerwall battery systems, heating and cooling, heat pumps, and EV charging stations. The company has installed hundreds of residential solar energy systems and high-profile projects for numerous municipalities, communities, non-profits, schools, and universities. The company also offers financing and leasing options for its customers. We found a strategic buyer that can integrate this business into their company.
(Ferrari Kitchens & Baths) Established Business that sells and installs Kitchen & Bath fixtures, tiles, etc. The 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. Contact us to sell your kitchen & bath business.
A company that specializes in soil excavation, removal, and replacement; mold inspection and remediation; and oil tank removal and installation. The seller had owned the company for many years and was ready to retire. We located multiple potential buyers and negotiated terms that worked for the buyer and seller. The seller will provide a brief transition.
The seller was ready for a change after working in the business for many years. They engaged us to sell their business. We located several potentially interested buyers. The best offer came from an overseas buyer in Europe that wanted to live in the United States with the purchase of a business under the E-2 Visa program. We negotiated terms that worked for both parties, and the buyer was able to realize their dream of living in the US, and the seller will help them with a transition. Contact us to sell your closet and storage business.
(LSI, Services, Inc.) The business had both commercial and residential customers landscaping maintenance customers. They also provided landscaping installations, sprinkler systems, excavations, paving, and rock and retaining walls. The owner of the business wanted to spend more time with their family. They hired us because of our experience in selling multiple landscaping businesses. We had several potential buyers. The buyer with the best offer had an investment banking background and had already purchased landscaping businesses in the South and wanted a NJ presence. We arranged an introduction to a bank that we have worked with a number of times. They were able to get the financing to provide the seller with the bulk of the purchase price paid at the closing. The seller also owned the building and will receive rent payments from the business owner. He will stay on after the sale and be paid a salary to ensure that everything goes smoothly with the new owner.
(Interstate Heating & Cooling) They do about 600 installation jobs per year with both commercial and residential customers in the Finger Lakes Region. They also service and repair HVAC systems. The buyer owns a significant automation and controls company in upstate NY that is looking to purchase additional HVAC companies to expand their reach in NY. The sellers of the business will stay on for a year after the sale with a salary, commission, and company car. The deal closed in about 4 months from when we began marketing it.
(BGM Engineering) This company has multiple offices and provides services that include structural design, assessments, inspections, construction administration, surveying, and expert witness testimonies. We had several offers, and in most cases, we have sold engineering firms to another larger engineering company. But in this case, the buyer was a young engineer in his 30s that had saved up enough money for 10% of the purchase. With our banking contacts, the buyer was able to get SBA financing so that the seller was paid 90% of the purchase price at the closing and was financing 10% to be paid over time. The seller will stay on after the sale to help the buyer learn the business and provide a transition period.
(Dave Adams Roofing & Solar) The seller was referred to one of our Brokers by another seller who had a great experience with us. The owner of the business had worked for over 30 years and was ready to retire and move to Florida to spend more time fishing. We had a couple of offers and then received a full-price offer of over 3X cash flow from another roofing and solar installation company that was looking to expand via acquisitions. The buyer only needed to put down 5% of the purchase price with SBA financing because he was already in the business, and this was an add-on to his existing business. The seller received almost all of the purchase price at closing and, as per SBA financing rules, needed to hold a small note to ensure that they stay on after the sale for a transition period before he goes fishing!
(Volpe Service Company) Residential & Commercial HVAC company was sold for nearly full price in less than 5 months. We introduced a buyer we had worked with on other HVAC deals. The buyer was prequalified for an SBA loan which allowed the seller to be paid at the closing from the bank.
A company that does Material Testing as well as Engineering Testing. Testing capabilities include Concrete and Masonry, both field and lab, footings, fireproofing, core, curing, Steel Structural, weld testing, ultrasonic, and Soil in the field and laboratory environment. The business was being sold along with the building. The buyer needed to be a professional engineer in civil engineering. We found a buyer that was willing to make a full-price offer, and the sale was completed. The seller gave us the following review on Google: “Excellent service, professional and courteous people!”
(Sherman & Frydryk) The seller was in his mid-50s and was hoping to retire by age 60 after selling the business and working for a few years under an employment agreement. We had some interest from buyers within the industry and outside the industry. The best offer came from an engineering firm that is located in Eastern Massachusetts. One of the partners from the buyer’s company was commuting 1.5 hours each way from Western Mass. Acquiring this company shortened his commute to 15-20 minutes and they acquired additional customers and employees which allowed them to grow profitably. The seller got along well with the buyer and agreed to sign a 3-year employment agreement that would allow him to transition into retirement.
(GC Reliable) Established profitable HVAC Company in business for many years. The owner was interested in retiring. In addition, to HVAC they also install, sell and service pool heaters. The buyer was from the oil and gas industry and the seller has signed an agreement to stay on with the company for a year at a good salary plus benefits to help transition the business to the new buyer.
A company that provides installation, troubleshooting, maintenance, and auditing of fiber optic and cable systems for telecom systems. The firm had just been awarded a massive long-term contract with a giant in the telecom industry. This contract led to a lot of uncertainty as many buyers won’t ascribe much value to future earnings. However, we felt that the business could attract strategic buyers who would benefit from creating economies of scale and, therefore, be willing to pay a much higher multiple. We received robust interest from the start and had multiple offers from both the Private Equity community and strategic buyers within the first couple of weeks. Ultimately, we went with a strategic buyer and many negotiations, and an agreement was reached to obtain consent for assignment from its primary customer, representing nearly 75% of total revenues. The deal was structured as an 80% cash at close and 20% equity rollover, and we got a very healthy 4.8x multiple of Cash flow. The business was sold in less than 6 months from when the owner first contacted us to inquire about selling their company.
The company distributes products for a large number of national brand manufacturers to customers around the country. They also provide inventory warehousing. We were able to get a full-price offer and introduce the buyer to banks that provided SBA financing.
(4M Connect) The company has a reputation with contractors, IT Managers, Architects, and more. The owner was interested in selling the business for a high multiple of earnings. It took some time, but we were able to sell the company for the full price. And since we got the company prequalified for SBA financing with a banker that we introduced the buyer to, the seller did not need to provide any financing.
(Certified Testing Labs, Inc.) Prominent Construction Testing and Inspection Firm. The Company provides inspection services to the commercial and residential construction market. Their clients are the building owners, but most interaction is between contractors, architects, engineers, and the Company. Clients retain the firm to test all aspects of the building structure as it is being commissioned and built. This company is one of the few that offers 3 types of inspections: 1. Materials: Concrete and masonry field & lab, for rebar, footings, fireproofing, soils, and structural steel. 2. Non-Destructive: Radiography, ultrasonic, magnetic particle, and liquid dye penetrant. 3. Special Inspections meet specific state as well as national standards. The business was sold to an engineering firm that wanted to broaden the services that they can offer to their clients. industry.
Company with an experienced staff of 25 with customers throughout the greater Baltimore, Maryland area. The owner was looking to stay on with a new owner before transitioning into retirement. We received offers within one week of marketing the business. We negotiated the terms and accepted an offer with a strategic buyer that was a larger HVAC company in Maryland that had Private Equity backing and was growing through acquisition. The deal closed for about 3.4X net cash flow.
The company was listed with another firm for over two years, but that relationship produced no real leads for the sale. The owner contacted Synergy and we found our buyer the first month amongst other interested parties; we received a full-price offer which the owner accepted. The business sold for more than 3.5X net cash flow. This is our second garage door company sold in the last 5 months.
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