Tulsa, Oklahoma — When CBI engages with a client, it’s not simply a business transaction. To our team, it’s the opportunity to establish a partnership to help bring value to an organization as they look to grow, expand or sell.

Recently, we were able to capitalize on such a partnership when past client, Devin Wanzor from Lektron Branding Solutions, turned to his trusted CBI Tulsa team. In building his business, he decided that he needed to release his apparel printing division to provide more strategic focus to his main product offering. And with the year-end quickly coming to a close, he had an accelerated timeline that demanded a more direct, pick-up-the-phone approach to connect with buyers. CBI Tulsa did just that.

“Leveraging our network of professional apparel printers in the area, we were able to reach out to Cole Cunningham at Mythic Press,” explained CBI Intermediary Cullen Koger. “Growing exponentially year-after-year, he saw this as an opportunity to increase his book of business even further, while also gaining new equipment to meet his production needs.”

CBI was able to broker the deal within a few weeks, so both the seller and the buyer could start the new year fresh and full of enthusiasm.

“Opportunities like this highlight the importance of why we put our clients first and never consider our partnerships with them as one and done,” explained Tulsa CBI Owner Roy Still.

Firm completes targeted acquisition of Push Holdings To Establish North American Footprint With $25 Million Deal

Little Rock, Arkansas — Little Rock native and Weyland Tech CEO, Brent Suen, recently placed a $25 million bet on the explosive mobile app industry.

The company made a strategic acquisition of Push Holdings, a privately-held subsidiary of ConversionPoint Technologies (CPT), in an all-stock deal worth $25 million.  The deal closed January 9 and establishes an important North American footprint for Suen’s company and provides more access to a market where mobile-first consumption is exploding among all age groups.

Consideration for the transaction is comprised of 35,714,285 shares of Weyland Tech common stock priced at a premium to the current market valuation. Of the total consideration, 28,571,428 shares are payable to CPT upon closing, with the balance of 7,142,857 shares payable subject to the achievement of certain performance milestones and other criteria. The acquisition includes approximately $1.5 million in cash on Push’s balance sheet to support the transition and integration, as well as the launch of CreateApp in the U.S.

“We continue to believe Push will be a highly transformative acquisition on multiple levels, and will drive strong revenue growth and market expansion,” said Suen. “Push’s eCommerce platform is highly synergistic to our existing mCommerce technologies, particularly with CreateApp and AtozGo. Our respective offerings are both mobile-friendly and can provide complementary products and services, while our technology and revenue models can be seamlessly integrated into a single platform.”

According to ComScore’s recent Global State of Mobile, U.S. and Indonesia represent two of the largest markets for mobile-first consumption. In fact, ComScore reports show U.S. consumer total minutes spent online ballooned by 45 percent from 2017 – 2019. And, of that time online, U.S. and Indonesian consumers spend all but about 10 percent of their time on mobile in apps. Simply put, time on mobile is dominating time spent online like never before and it represents a strategic opportunity for businesses and marketers to reach consumers.

To grow Weyland Tech within the North American market, Suen turned to Confidential Business Intermediaries, a business brokerage firm located in the midsouth that specializes in business sales, targeted mergers and acquisitions. Within the Central Arkansas CBI offices, Suen looked to his fellow Little Rock residents and family friend Ashton Woodward for trusted counsel. Ashton and CBI Sr. Intermediary Shep Campbell went to work researching the opportunity, reviewing best-fit brands and serving as trusted advisors to the deal.

“It would have been easy to bring in a New York or Silicon Valley advisor but it’s about the people – Shep and Ashton dug in, took a unique approach to valuation analysis and got us to the finish line with attitudes that were fantastic,” said Brent Suen, CEO of Weyland Tech. “We’re thankful to Confidential Business Intermediaries Shep Campbell, Ashton Woodward and the support team at CBI for advising on the acquisition of Push Interactive.”

Personal attention is a trademark of CBI, explained Sr. Intermediary Shep Campbell. “Our business is built on trusted relationships and a passion to support sellers and buyers every day as we guide them on transitioning in or out of businesses,” Campbell said. “The only job we have is to help our clients reach their goal.”

CBI offers a range of services to enable selling or buying businesses including its targeted acquisition, confidential auction and other main street and middle market sales and financial lending tools, explained Central Arkansas Office Owner Connor Grimes.

“Working alongside Brent, a long-time friend and respected business executive, was deeply rewarding as it allowed us to help his team identify future growth through our targeted acquisition processes,” explained CBI professional intermediary Ashton Woodward. “As a consultant to Brent we identified the criteria for target companies and then worked alongside his team every step of the way.”

By Roy Still, Office Owner-Tulsa While some may describe these as the lazy days of summer, at CBI we know savvy business owners aren’t wasting a minute to put important focus on improving, strengthening and growing their business.   That’s why we believe the time is now to take some simple steps to ensure your business is strong and ready to withstand any change, including its eventual sale.   When you decide to exit your business, you’ll discover sellers who have taken the time to plan are the ones who could realize even greater rewards. The time to get started is now and we’ve identified a few easy steps to get you started: 

1. Inventory Furniture, Fixtures & Equipment – Compile an updated list of your Furniture, Fixtures & Equipment (FF&E) and include fair market value estimates for each. 
2. Assess Current Inventory – Be sure to also look at current inventory levels and note estimated average dollar amounts for what’s on hand (at seller’s cost).  
3. Review Contracts & Agreements – Review your existing agreements – including any lease, franchise contracts, etc.

  “It may feel tedious, but everything from contracts, passwords, talent succession and more, makes a big difference and future-proofs your business,” explained CBI founder Carl Grimes.    Not sure where to begin? Contact CBI for a free business consultation.   

Jim Hunter built a vibrant business in Northwest Arkansas with his Arkansas Collision Center and had the right tools and equipment – heated paint rooms, computer-assisted alignment systems – and a fully-trained staff to appeal to the next owner.

Arkansas Collision Center has been offering quality service to Northwest Arkansas for more than 20 years. Jim made the decision to retire after consistently growing the business these past several years. When it was time to sell, he turned to trusted professionals at CBI Team to walk side-by-side and lead the sales process.

With well-trained team members in place, Lindsey Smart was drawn to the business in vibrant Northwest Arkansas and plans to continue to grow the brand, introduce its offering to new drivers and serve Arkansas Collision’s existing loyal customers.

Whether it was prescription needs, pharmacy expertise, gift selections or a sweet treat from the old-fashioned soda fountain, Kelley Drug & Selections remains the place to experience the best of Desha County. Kelley Drug & Selections, owned and operated by James and Karen Kelley, was purchased by Jay Gulley. Jay is a pharmacist and owner of The Transplant Pharmacy in nearby Jackson, Mississippi. Gulley said he was drawn to the McGehee opportunity as it allowed him to diversify his pharmacy businesses by including a general pharmacy in his business portfolio. “I love independent pharmacy and trying to provide a level of care not found at any other pharmacy. This purchase allows me to expand the reach of pharmaceutical care that I can currently provide, and it also affords me the opportunity to continue the legacy that the Kelley family started of providing excellent care to the wonderful people of McGehee,” Jay Gulley said of the acquisition.  

While national reports show rural counties are shrinking, CBI knew the importance of anchor businesses like Kelley Drug to small communities as it was the only pharmacy in the town. CBI overcame what some might describe as a challenging market by creating a unique value proposition and actively leveraging its vast buyer network and online seller channels.  

“The sale of our drugstore to Jay Gulley is the ending to our American dream. As a young couple, our dream was to own and run our own drugstore.  We have enjoyed the journey, as well as, worked hard to make our dream successful. Now, we will be able to retire and enjoy our family and travel a bit,” explained James Kelley. “We appreciate Shep Campbell and CBI for their help in finding a good fit in a buyer. CBI was instrumental in searching and finding the perfect buyer for us. Jay has the same values and goals as we have had and that means a lot to us. It is very important to the town to continue to be a place that the community can depend on,” Kelley added.

After creating and operating River City Bistro for nearly a decade, owners Susan Tucker and her son Jason Haid decided it was time to hand off the restaurant they had nurtured from its birth. But not just any new owner could care for and maintain this New York-style restaurant that had won multiple “Best of the Best” awards year after year, much in part due to the menu created and executed by head chef, Jason Haid. After exploring their options, they chose CBI Team Fort Smith-River Valley to mediate the sale.

Enter Bruce and Michelle Spinas, local restaurant owners with a combined forty years of experience, and frequent patrons of River City Bistro. Between their proven restaurant success and their love for the deli-style food at River City Bistro, the decision to make an offer was a no-brainer.

Susan and Jason were delighted that Bruce and Michelle were interested in buying the business they had worked so hard to build over the years, and they trusted CBI Team Fort Smith-River Valley business intermediary Isaac Davis to help with the difficult process of transitioning. While they were delighted that someone wanted their business the idea of letting it go was extremely difficult. Ultimately they decided this was an opportunity they couldn’t afford to pass up.

Davis walked through the emotional selling process with the Tuckers from their first meeting to the last signature at closing and helped both the sellers and buyers navigate the intricate details of a business transition.

Ryan Gray knew his business dream began with a single step toward establishing a GoodFeet franchise in Northwest Arkansas. Despite a dismal response from his initial bids for financing, he remained undeterred and kept moving forward.

Hearing about CBIs Loans 4 Business program, Ryan engaged the team to explore his need for a loan and shared his ideas for a brand he loved.

Kelly Tivis, manager of CBI’s Loans4Biz program worked alongside Ryan and walked side-by-side to support the development of his business proposal and packaged the plan that was shared across CBIs vast lender network.

“I was happy to visit with him about our ability to help him obtain a loan – in fact, I told him it was likely that we would be able to provide him with not only a loan, but several different financing options to consider,” Tivis explained.

After engaging more than 75 lenders about the opportunity to provide financing, CBI received six proposals with just as many different ways to structure a loan.

“Ryan selected a lender and was able to open his first franchise location within the year,” Tivis said.

Since opening his first franchise in Fayetteville, Arkansas, his GoodFeet footprint has continued to expand.

“Within two years, I’ve grown my business from one to five franchise locations and I’ve got plans to further grow the brand,” Ryan Gray explained. “I couldn’t have done this without CBI.”

Since using Loans4Biz, Ryan has opened GoodFeet franchise locations beyond Fayetteville to the following markets: Jackson, Mississippi; Bettendorf, Iowa; Baton Rouge, Louisiana; Little Rock, Arkansas and Shreveport, Louisiana.

The Loans4Biz program saves participants time and money by offering the following benefits:

•           Assistance with gathering and completion of documents required by most lenders

•           Initial communication with all interested lenders handled by CBI TEAM

•           Much better chance of finding a lender who is interested in providing a loan

•           A number of financing options presented for consideration

•           Thousands of dollars of interest saved over the full term of the loan

 Although Loans4Biz program was created to assist buyers of businesses listed by the CBI TEAM, the benefits of using the Loans4Biz program are available to anyone who needs assistance with financing…whether you are buying a business listed by CBI TEAM or not.

To learn more about the Loans4Biz program, contact Kelly Tivis at 479-770-8989 or kelly.tivis@cbiteam.com

Perry Roofing is a highly respected and well-known roofing service company that has developed an excellent reputation for quality work and honesty. They have been serving the Northwest Arkansas area for over 11 years, offering a variety of residential and commercial roofing services.

Cloyed is ready to step in as the new owner and begin providing quality services for homeowners. Additionally, Collins and his wife are excited to transition into retirement and enjoy their financial security after the sale of their business.

The CBI TEAM of Northwest Arkansas has been confidentially helping people buy and sell businesses since 1994. Jon Holbert, Managing Partner, served as advisor throughout the process. Cloyed, the buyer, was secured and vetted by CBI TEAM’s Senior Business Intermediary John Green.

The CBI TEAM has four locations: Northwest Arkansas, Central Arkansas, Fort Smith-River Valley, and Tulsa, Oklahoma.
For more information on buying or selling a business, contact the CBI TEAM at confidential@cbiteam.com or (479) 770-8989.

If you’re looking to leave the corporate world and start a venture of your own, buying an existing business can be a great option. The benefits are numerous! You don’t have the burden of creating a new business idea, dealing with startup costs, or establishing your brand. With a for-sale business, the current owner already cleared those hurdles for you. However, you do need to research certain aspects of the business to find a great fit. This article outlines three factors to consider before buying an existing business that will ensure you make a sound investment.

The Business Financials

Pay attention to tax returns and current profit and loss records. These will give you a clear idea of sales trends, expected income, and the overall health of the business. However, declining sales aren’t necessarily a sign of a poor deal. The owner may have intentionally slowed their business as they neared retirement or shifted their focus to other business ventures. They may also have invested in a new piece of equipment. If you work with a business intermediary, they will discuss the financials during your scheduled buyer meetings.   

The Existing Company Details

When researching a prospective business, consider the details of the company. Is it product- or service-based? Does it currently have inventory and working equipment? Your industry knowledge, working capital, and amount of time available to invest will determine if a business is a good fit. If you have more of the first and less of the latter two, a business that is turn-key ready is a better option. Beyond that, look into the management team. A capable and loyal team will allow for a smoother transition.

The Business Growth Strategy

It’s important to consider the growth strategy of before buying an existing business. You want to have a clear idea of both the current sales landscape and the growth opportunities available to you. Look into these four things to get a better understanding of the potential return on investment.

Current Client Breakdown

Firstly, what is the current client breakdown? You want to see diversified and evenly distributed accounts as opposed to a small handful of large accounts. On the off chance that the transition causes you to lose an account, you want the assurance that it won’t put too large of a dent into your bottom line.

Marketing Plan

Secondly, is there a current marketing plan in place for sustainable sales growth? A good plan outlines targeting efforts for existing customers , budget allotment for new customer acquisition, implementation of current initiatives, and any available growth opportunities you can capitalize on as you step into the role of owner.

Business Scalability

Thirdly, is the business model scalable? Put simply, if you add to your operating costs (i.e. utilities, marketing, administrative salaries, rent, etc.) at the same rate you grow revenue, then your business doesn’t scale. However, if further revenue requires relatively smaller and smaller additions to operating costs, then the business scales. Assess the business to ensure that it has the potential to multiply revenue with minimal, incremental costs over time.

Existing Business Reputation

Lastly, does the company have a sound reputation? If the company you’re looking to buy has been involved in scandals or has a history of treating its customers poorly, you’re going to have an uphill battle on your hands. Browse online reviews, check with the Better Business Bureau, and look at customer feedback for the company’s track record.

Conclusion

Purchasing an existing business has much less risk involved than starting from scratch, especially when you consider the number of businesses that fail within the first five years and the number of variables that cause their downfalls. Buying the business from an owner who has successfully navigated the pitfalls gives you a leg up on your new venture. Beyond that, you start with an established customer base, reputation, and cash flow.

Consider financials, company details, and the growth strategy before buying the existing business. Consequently, you will be sure to meet your financial goals and fulfill your entrepreneurial dream. If you want to start the process, you can view our current listings or contact one of our intermediaries. We can find the perfect fit for your next business!