Private First-time Owner/Operator was acquired by Carpet and Tile Company
Transaction Description
Profitable flooring business for sale with real estate asset included.
Transaction Details
Carpet and Tile Company
Private First-time Owner/Operator
Transaction Overview
Sole to individual Buyer looking to purchase his first business in the construction industry.
Asset Sale.
Challenges
Business is located in a smaller town, so finding a Buyer that was interested in this business that wanted to be in a more rural area was the biggest challenge.
Solutions
This Buyer was impressed with the business profitability and ongoing business. We helped the Buyer get connected with the local Rotary club, Chamber of Commerce, and introduced him to multiple area networks. Even though the business was further away from Austin than he was looking for, the merits of the business and community outweighed the distance.
Summary
This business was referred to us by a commercial real estate agent we had been involved with in the past. This agent represented the real estate portion of this deal.
We marketed the package and procured the Buyer.
Buyer had been looking around the Austin area and made a play on a different business but couldn’t get the deal done through the broker that was representing that particular seller.
Buyer was pre-qualified SBA through his banker and came to us representing this seller. This business was very profitable and easily qualified for SBA financing.
We had experience with the bank he was using and in coordination with the banker, and real estate agent, we successfully closed the transaction.
