December
2016

Business Confidential is compiled from information picked up by Carl Grimes and other CBI Team members on the streets, in the offices and around Northwest and Central Arkansas, and Northeast Oklahoma. The names aren't being revealed to protect the innocent (and sometimes the guilty!).



Dateline Fort Smith Arkansas:
 
Recently a buyer in our Fort Smith office, inquired about finding a storage unit complex to purchase. He had just recently sold his own storage units, and wished to utilize a 1031 Exchange. A 1031 Exchange is a great way to defer taxes on a large business property sale, provided that money is reinvested in a new property. Our buyer is motivated to purchase a storage complex with approximately 200 units. If you own a storage unit property, and have considered selling call us today 877-582-5200 or email confidential@cbiteam.com. We can even help you find a property to save some tax burden and perform your own 1031 exchange. 
 


Confidential Business Intermediaries of the Fort Smith/River Valley Area are currently looking for Pest Control businesses which are ready to sell. According to Mark Kincannon Owner/Managing Partner of the CBI+Team River Valley Office, a serious buyer has contracted his office to locate viable Pest Control businesses through the CBI+TEAM Target Acquisition Program (www.tapbiz.biz). This is the perfect opportunity for an owner who has just been waiting for a buyer to come along to sell his or her business. If you, or someone you know owns a pest control business and would like to be considered for purchase by this buyer please call 877-582-5200 or email confidential@cbiteam.com today!

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BIG BUYERS!
 
About These Buyers:
Our network of buyers consistently target acquisitions in a broad range of industries and sizes. This month we're highlighting a firm that is looking for businesses in the pharmaceutical industry. 

Recently CBI+Team was contacted by a large firm looking to purchase multiple independent pharmacies across the US. This company is focused on finding already licensed pharmacies for purchase, whether or not they are currently profitable. If you or someone you know owns a pharmacy, and is considering selling give us a call today at 877-582-5200 or email confidential@cbiteam.com


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Contact us at 877-582-5200 or e-mail confidential@cbiteam.com for a no-obligation, confidential consultation.

 

SOLD!! Pennington Floor Store

Pennington’s Floor Store in White Hall, Arkansas has new ownership after forty years of continual operation by the Pennington family according to Connor Grimes, Managing Partner of Confidential Business Intermediaries/The CBI TEAM of Central Arkansas (www.cbiteam.com). Business owner Robert Pennington sold the business to Steve Parrish of Little Rock. Tom Stanton and Shep Campbell, both Senior Intermediaries with the CBI Central Arkansas office, were the listing and selling intermediaries respectively for the transaction, according to Grimes.
Pennington’s Floor Store has been serving the White Hall/Pine Bluff area for nearly 40 years. The new owner, Steve Parrish, plans to continue operating the business just as it has been over the last four decades. Mr. Parrish, an Arkansas native himself, plans on the business remaining a vital part of the White Hall community.
 
Mr. Stanton was approached by Robert Pennington to help confidentially sell the business. The CBI Team and Pennington’s Floor entered into an agreement and CBI of Central Arkansas went to work finding the right buyer. Intermediary Shep Campbell was working with the Buyer, Steve Parrish, on a separate deal. Mr. Parrish had contacted Campbell about his desires to purchase a business, but had been unable to find the right one after looking at several businesses  on his own. 
Shep and Mr. Parrish worked closely as Campbell disclosed several businesses to Mr. Parrish, including Pennington’s Floor Store, even though that was not the initial business in which Parrish had expressed interest. However, after much research Mr. Parrish became interested in the opportunity offered by Robert and Pennington’s Floor Store. The two parties entered into negotiations, guided by Stanton and Campbell. Pennington and Parrish agreement, and the business officially changed hands on Tuesday, November 22, 2016, according to Grimes. 
CBI Central Arkansas is part of Confidential Business Intermediaries, the largest business brokerage company serving both Main Street and lower Middle Market Mergers and Acquisitions from three Arkansas offices, Little Rock, Springdale and Fort Smith.
For more information contact CBI at confidential@cbiteam.com or call 877-582-5200.

Motivation + Motivation = SOLD!
 
Salute Fine Wine and Spirits – a long-established retail package store on West Markham in Little Rock – was recently acquired by Taytayjack, LLC and will continue to serve its customers in West Little Rock under the new ownership.
 
Larry Grayson, who had owned Salute for several years, was introduced to Connor Grimes – Managing Partner of CBI+Team of Central Arkansas – at the Governor’s Prayer Breakfast. After discovering that they had a mutual friend in Connor’s uncle, Larry disclosed to Connor that he thought it might be time for him to sell the business and allow himself time to pursue other interests.
 
CBI+Team Member, Bob Baine, co-listed the business and the real estate, along with Connor.  The CBI+Team confidentially began marketing Salute.  
 
Several potential buyers were interviewed without finding “that perfect match” that Larry wanted in the new owner of his business. Enter Paul Bowersock, a former telephone industry executive and a tennis associate of Bob’s. Paul was highly motivated to add Salute to the other businesses he had started or acquired, and he and Larry met at the CBI+Team office and agreed to move forward.
 
As with all such transactions, there were many and varied obstacles to reaching a mutually satisfactory agreement. But with both Buyer and Seller willing to work with Bob and Connor to find common ground and keep the transaction moving forward, an agreement was reached and Salute’s sale was completed on November 15, 2016.
 
Salute was listed, confidentially marketed and sold in less than six months.  
 
Stop in and see Paul at 10700 West Markham or visit the website at SaluteFineWine.com
 

Business Sales Boom
By Carl Grimes Chairman of Confidential Business Intermediaries

The CBI TEAM helped business owners sell their businesses for a total sales volume of almost $16 million in 2016.

With five more businesses under contract to close, the total sales price of the sold businesses should top $16 million in calendar 2016 according to Carl Grimes, Chairman of Confidential Business Intermediaries.

With three offices in Arkansas, Little Rock (Central Arkansas), Springdale (Northwest Arkansas) and Fort Smith (River Valley, the CBI TEAM led by Managing Partners Connor Grimes in Little Rock, Mark Kincannon in Fort Smith and Carl Grimes in Springdale, has 10 full time intermediaries providing business sales services and professional valuations to all of Arkansas.

Transactions ranged in size from $5,900,000 to $90,000 demonstrating that the CBI TEAM has the expertise to sell middle market mergers and acquisition (M&A) businesses to Main Street Mom and Pop businesses.

"We know that it takes different strategies to sell different types of businesses and our 22 years of experience have taught us how to help business owners develop the best strategy to maximize their business sale," Carl Grimes said.

"We expect 2017 to be a better year than 2016 as more business owners make the decision to sell and retire," said Connor Grimes.
For more information on preparing your business to sell in 2017, call 877-582-5200 or email confidential@cbiteam.com.

Online Marketing Activity

One of the many ways the CBI Team markets businesses is through buyer specific websites, places business buyers go to find businesses to buy. ​Below are figures that represent ​some online ​buyer activity on some (not all) of the websites used by Confidential Business Intermediaries/CBI Team to market businesses. This information displays the amount of views or "hits" that ​CBI business listing​s​ and websites ​got as well as the total number of ​emails​ to ​which ​our monthly newsletter​s are sent​.​ It costs hundreds of dollars per month to place the confidential "blind" ads on these websites. In addition to the websites, CBI prepares and implements a customized marketing plan for each business ​we list for sale.

​CBI also prepares a monthly report for each business owner we represent. The monthly report provides detailed information about each business listing.


Business ListingsLast MonthLast 12 Months
Total Number of Views10,806118,931
Avg. Views per Listing2232,147
Total Email Inquiries43639



Company WebsitesLast MonthLast 12 Months
Total Number of Visitors1,03212,695
Total Number of Views1,82729,799



Monthly NewslettersLast Month
Total Newsletters Sent12,026

The CBI Team is a proud member of the PAABB

Company Profile

The CBI Team is the largest business brokerage network in Arkansas. Since 1994 we have helped people sell and buy businesses in one of the fastest growing regions. With offices in Northwest Arkansas, Central Arkansas, Fort Smith, Arkansas, and Oklahoma, the CBI Team is the only business brokerage firm with offices in each of the major Ozarks cities. 

The CBI Team manages the entire business sales process, from helping the seller arrive at a reasonable, market-driven price for the business, to helping the buyer to arrange financing so that the seller gets the most compensation at closing. 

The CBI Team is the one-stop intermediary for all business sellers and buyers.

Carl Grimes, Owner
Serving the Northwest Arkansas area
Contact us at (479) 770-8989 or carl.grimes@cbiteam.com

Connor Grimes, Managing Partner
Serving the Central Arkansas area
Contact us at (501) 404-4980 or connor.grimes@cbiteam.com

Mark Kincannon, Managing Partner
Serving the River Valley Arkansas area
Contact us at (479) 784-9522 or mark.kincannon@cbiteam.com

Tulsa, Oklahoma
Contact us at (877) 582-5200 or info@cbiteam.com

"Confidentially Helping People Sell Businesses to Secure Their Financial Future"

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