Deal Story: Minneapolis Sheet Metal Works
Sold by The Gibbs Group
1908 was a great year for starting businesses, including Calhoun Companies and Minneapolis Sheet Metal Works. More recently, Stan Gibbs from Calhoun Companies helped Minneapolis Sheet Metal Works attain their goal of charting an exit strategy.
Stan brought the business onto the market and discovered the perfect buyer! The buyer, Jason Edgar, brought plenty of experience to the deal table. He had worked in research and development at 3M for 24 years, and was eager to own a company. Jason was familiar with Calhoun Companies from its active community presence, and when he became serious about purchasing a business, he knew where to turn.
After an initial meeting in May, both buyer and seller thought it was a good match. Stan acted as intermediary throughout the process – aiding in paperwork, supplying the buyer with materials he needed to conduct due diligence and helping the buyer secure SBA funding. From start to finish, the deal ran smoothly, without interruption. It closed August 31, 2015.
After the purchase, the seller stayed on as a consultant – one of Jason’s priorities – and was able to help him learn more about the business and create a seamless transition.
Another success story from The Gibbs Group. Allow us to help you write your story!
How to sell a business & not lose your sanity.
“I want to sell my business but, what is my business worth? How will I find a buyer? Where will I find time to sell my business?” If that sounds like you,
call The Gibbs Group of Calhoun Companies.
Special Note to Business Owners:
Sales of Small Businesses Approaching Record High
BizBuySell, a leading website used by business brokers such as Calhoun Companies, recently reported that small business transactions are on pace to reach a record high in 2014. BizBuySell has been tracking small business sales since 2007 and in their most recent report, which polls business brokers nationwide, it shows:
- 18% surge in small business sales
- Median sale price of businesses is up 5% over the same period last year
- More business sales are benefiting from the return of bank financing
- Sellers are receiving the highest percent of asking price since before the 2008 recession
- Multiples of cash flow that sellers are receiving for their businesses jumped by 9% in the last quarter
- The data clearly shows now is a good time to sell.
The quality of New listings is up as business owners who delayed selling during the recession decide to take advantage of these favorable marketing conditions.
Calhoun Companies can help. We sell more businesses than any firm in the Midwest and would be happy to help you too.
More and more trusted publications are reporting now is the best possible time to sell a business in the last ten years. If you are ready to sell your company, please contact us today. All inquires are held in the strictest confidence. 612-467-9673