Chicago, IL, July 21, 2012 --(PR.com
)-- Chicagoland Sunbelt reported that Kent Baker, Senior Broker, facilitated the sale of US Adhesives, Inc. a well-known adhesives manufacturer in Chicago. This firm has been in constant operation for over 80 years and had an outstanding track record and significant market share. In its confidential marketing of the business, Chicagoland Sunbelt, attracted and pre-screened over one-hundred and ten (110) prospective buyers and generated seven (7) offers, resulting in an attractive exit strategy for the partners and an excellent opportunity for the buyer.
Chicagoland Sunbelt, was retained by the owners of US Adhesives, Peter Marines and Thomas Terry, to manage the entire business sales process which included developing an exit strategy, executing a confidential marketing plan, fielding and negotiating offers, coordinating due diligence, and overseeing the complexities of the closing and management transition. “The Chicagoland Sunbelt team, was thorough and guided us through every step of the process,” stated Tom Terry and Peter Marines. “We were very pleased with the large number of qualified buyers that Chicagoland Sunbelt, generated which resulted in many solid offers. In addition, they lined up financing before going to the market so we were able to walk away with the majority of the purchase price at the closing table.”
“We are at the beginning stages of an unprecedented trend with an ever increasing number of ‘baby boomers’ preparing to retire and this engagement is a perfect example of that trend,” stated Domenic Rinaldi, managing partner of Chicagoland Sunbelt. “The principals of US Adhesives ran a very solid business and they were rewarded nicely as a result. This transaction was handled by one of our senior brokers, Kent Baker, who did an outstanding job of managing all phases of this transaction.”
Nine (9) million of the fifteen (15) million business owners were born before 1964, according to White Horse Advisors, an Atlanta-based financial consulting firm. Marquette University conducted a research study on these baby boomers business owners and the concluded that 1 of every 2 of these businesses will act upon an exit strategy. This will result in an overwhelming number of business changing hands as the baby boomers retire.
Chicagoland Sunbelt, advises that potential buyers and sellers become educated with the realities of small business transactions. Buyers should be certain to locate transaction-oriented advisors, meet with potential financial providers, research the local market, utilize a professional business broker and choose a business for the work first and the financials second. Sellers should hire a professional business broker, obtain a valuation, understand their tax consequences, confidentially market the business and rely on experienced advisors.
Chicagoland Sunbelt, is a Business Broker firm that focuses solely on helping people buy and sell businesses. Chicagoland Sunbelt, is also a proud member of Sunbelt Midwest, which operates 4 offices in Minnesota, Wisconsin & Illinois and is part of Sunbelt’s worldwide network of 350 offices.