| BUSINESS NAME: | AAA Blinds and Shutter Factory |
| LOCATION: | Greater Myrtle Beach Area, South Carolina |
| INDUSTRY: | Manufacturing and Retail |
Situation
The sellers, a husband and wife, had bought this window treatments manufacturing business over a decade ago. The business was highly successful and profitable as shoppers quickly converted to customers once they toured the spacious showroom and the manufacturing facility where all custom window treatments including plantation shutters, shades, and blinds were assembled. With local manufacturing, and in-home installation services, the business had earned a strong reputation for quick turn-around serving second homeowners and retirees moving to the area.
When the couple decided it was time to sell the business, they were looking ahead to retirement. For more than three years, they worked with two different business brokers with no results. They were frustrated and sought to find the right business broker to help them achieve their goals.
An M&A attorney introduced the couple to Adam Petricoff of VR Business Sales Charlotte.
Brokering the Sale
Adam and his team immediately went to work to package AAA Blinds and Shutter Factory for sale, seeking to attract an individual buyer to buy and manage the business while keeping their experienced staff. The high-quality confidential business review (CBR) generated more than 200 non-disclosure agreements signed (NDAs). Within the first 48 hours of marketing the business, Adam and VR Business Brokers had generated more interest in the business than had been accomplished in the past 36+ months.
Championing the Sellers’ Goals
With so much interest in buying the business, the value of an experienced business brokerage team becomes paramount, so the sellers are not overwhelmed with the level of interest. Petricoff led the VR Business Sales team to efficiently and effectively narrow down the prospective buyers to a short-list of quality, potential buyers with financing pre-qualifications secured. Adam Petricoff evaluated and presented the best prospective buyers to the sellers, saving them considerable time and angst so they could focus on a pre-qualified list of buyers suitable to buy and manage the business.
With Adam’s guidance and counsel, the sellers selected a buyer, and the letter of intent was signed, kicking off the due diligence and inventory confirmation. Petricoff led and facilitated weekly meetings among all parties including each party’s attorneys, accountants, real estate attorneys, and the SBA lender, to discuss and coordinate all open matters, ensuring the sale progressed as the closing approached.
Like most sellers, the husband-and-wife team had not experienced selling a business, so they relied on Petricoff and his team to guide and counsel them every step of the way when hurdles arose and obstacles were overcome, as is always the case in a business sale.
Not only did the business sell within months of Adam Petricoff and VR Business Sales listing AAA Blinds and Shutter Factory, but the business sold for more than the previous brokers had envisioned.
The sellers are grateful for Adam and his team’s guidance and counsel, enabling them to enter the next phase of their life in retirement while the buyer, who had recently left corporate America, is thrilled to have acquired a new career in addition to a successful business.
“Adam Petricoff and his team helped my husband and I sell our business earlier this year. We were amazed by their service, patience, care, professionalism, organizational skills, and unwavering ability to close the deal. We tried two other brokers over the years but were disappointed both times due to their inability to bring us qualified options.
Adam and the VR Business Brokers are second to none in our eyes. They are experts in their field, and we would not trust any other team if we were to sell another business. We only wish we had known about Adam and VR earlier!”
Previous Owner
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