(Record Products of America) We did a comprehensive, confidential marketing program which resulted in a large number of potential buyers that signed Non-Disclosure Agreements for more information. We narrowed down the list of potential buyers to those that were the most qualified and interested. Our contacts with SBA Lenders allowed the buyer to finance the deal with a minimal down payment, and the seller received over 85% of the sale price at closing. The seller agreed to a paid consulting contract of 12 months with minimal weekly hours, allowing for a transition into retirement.
(Alarmpath/CRN Wireless) A company that manufacturers wireless security devices which they sold to home alarm and security companies. The seller did not want to sell their company to a direct competitor or customers and was concerned about confidentiality. They had previously tried to sell the company with another Business Broker that was unsuccessful and charges an upfront fee. They liked our fee structure and experience. 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.
(Contemporary Cosmetics Group) 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.
(Plastic Works) Provided custom and off the shelf products to distributors and directly 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.
The company supplies niche machines that are used for packaging in pharmaceuticals, chemical testing, food, health and beauty, and R&D clinical applications. The seller wanted to list the business for a price that was lower than what we thought we could get for the business. We recommended a higher asking price and ended up selling the business for above the asking price based on the fact that we had over half a dozen offers for the business. The seller had tax returns based on a cash basis and profit and loss statements that were based on an accrual basis. The financial information as presented made it harder for banks to loan on the business. We were able to select a private equity firm that understood this and didn’t need external financing. The business was sold in 7 months from start to finish. The seller was very happy to get a higher price and is recommending us to a friend of his that owns a similar business and is looking to retire.
(Futia’s Famous) The Business supplied their specialty food products primarily to Supermarkets. We had many interested buyers and the buyer that won out, had relationships with other supermarkets that the seller didn’t have and vice versa, so the opportunity to cross-sell into each other’s customer base was very synergistic. The buyer was very interested in the contacts that came from the business, and the buyer was looking to move from their high rent district in the Rochester, NY Area. They were able to get a favorable deal with the landlord for additional space in the Albany area at almost half the square foot rate they were paying in Rochester. Since the buyer was experienced in the industry, he only required the seller to stay on board for a two week transition period, which is precisely what the owner wanted because he was ready to retire.
This business is a favorite of the EPA as they recover oil from restaurants and then process and resell it for multiple uses. In addition, they clean the internal grease traps, which is a value add and leads to the profitable oil recovery business. During the COVID-19 recession, we were able to introduce the buyer within 1 week and close the deal in less than 4 months from our first conversation with the seller. The business is located in Rockingham County, NH and serves approximately 600 restaurant customers in MA, NH, and ME. All customers are serviced monthly, creating a predictable, recurring revenue stream.
(Architectural Glass Industries) A company that fabricates and sells custom glass and aluminum to contractors and construction companies that install their products for residential and commercial customers. Their products are used in kitchen and baths, storefronts, railings, countertops, flooring, and interior and exterior construction. We marketed the company to potential buyers within the construction industry and outside the industry. The best offer came from a buyer in his 30s who had managed a wealthy family office investment fund. He had accumulated significant funds himself and decided it was time to open up his own investment firm, and this was his first investment. He purchased the business and real estate with his own funds and did not need any outside financing, which leads to an easier closing. The Real Estate had a 12,000 sq. ft. facility.
(Four K Machine Shop) The company prototypes and fabricates metal parts for military and commercial applications. They utilize CAD software applications for custom metal machining. A few long term government customers make up the majority of their revenue. The buyer was a Turkish company that imported and exported military equipment. Turkey is a NATO ally, and the Turkish company acquired this company in the NY area to establish a presence in the US.
(ESI Electronic Products Corp.) They provide comprehensive, advanced electronic design and manufacturing services. They manufacture printed circuit boards (PCB) and other electronic design and control assemblies for their customer’s needs, including product development. They service customers in industries that include: telecommunications, industrial controls, exercise equipment, industrial testing, and consumer equipment. The owner had a 15,000 sq. ft. building that he will lease to the new owner. The buyer had an engineering and manufacturing background and had funding from Hong Kong sources. The deal was completed in less than 5 months from our marketing program.
The business had been in the family for three generations and over 75 years. All products are manufactured in the US and were sold B2B. Customers are retail stores, distributors, hospitality companies, and interior artisans. The owner was ready to retire and wanted us to find the right buyer for his business. We located several potential buyers and sold the business within 7 months from starting our marketing campaign. The buyer was another manufacturing company whose owner wanted to diversify its products and expand through acquisition.
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.
The sellers owned a business in the coffee industry for over 30 years when they came to us to sell their company. The challenge was they didn’t have detailed Profit and Loss information which can be a challenge. However, we reached out to other companies in the coffee industry and we were able to get a large coffee company that was growing through acquisition. We negotiated terms that worked for both parties.