The year 2023 was a great year for us at Rich-Biz Brokers & Advisors, LLC. With both our brokerage and co-brokering, we were able to help multiple clients achieve peak sales. Even better, we enter 2024 with several companies with Letters of Intent — at asking price — and have several others expecting Letters of Intent in the near future. In addition, we’ve advised several companies in helping them prepare for a future sale. We’d like to share some of those successes with you.

Letters of Intent

1. 1. A profitable environmental company with a long family history has had multiple Letters of Intent, including one above the asking price — which the owners turned down because they didn’t feel the buyer was a good cultural fit for the company has an asking price of $2,595,000. Under a Letter of Intent for the asking price, this company is in the Due Diligence phase and should close in 2-3 months after licenses and regulatory requirements are satisfied.
   2. Also in the Due Diligence phase is a commercial construction company with an asking price of $5,950,000. The potential buyers have issued an Letter of Intent for the full asking price. With a strong Leadership Team and productive financials, this transaction should close in 2-3 months.

 

Near Letters of Intent

1. 1. The owner of this niche manufacturing company, listed at $385,000, is reviewing several Letters of Intent at the asking price.
   2. The owners of a commercial cabinetry and design/build company with an asking price of $3,750,000 are expecting several Letters of Intent within the next month, based on buyer inquiries.
   3. The owner of a sports/data company with four patents and an asking price of $5,000,000 is also expecting a Letter of Intent within the next month for the full asking price, based on the potential buyer’s communications.

 

However, each of these companies remain open to inquiries.

Some of Our Other Potential Opportunities

1. A commercial furniture company to be listed at $3,950,000.
2. A construction/HVAC/electrical company with an asking price TBD.
3. An RV (Recreational Vehicle) repair company with an asking price TBD.
4. An irrigation company with an asking price TBD.

As a result of our success, our client pipeline needs to be replenished.

We would value the opportunity to represent any of your clients who seek to sell their businesses at peak value. If you know someone in this position, give us a call at 804-217-8354, or drop us a line at wayne@richbizbrokers or RBennett@richbizbrokers.com.

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