Sunbelt eyes south market via acquisition - Business First of Columbus:

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purchased in May. Terms of the deal were not Gerry Chadwick, owner of Sunbelt of Miami Valley, said by addiny the new office, he expects to grow his company’es revenue by 20 percent this year. Whilwe Chadwick would not disclose revenue he is projecting 20 percent growth for as well. Chadwick was approached about buying the officwe last winter and after analyzingthe market, decides there was room for growth in the “I think we can take advantagwe of a lot of good opportunities Chadwick said.
By adding brokers to the Cincinnati office, training new brokerss both in-house and through Sunbelt’s corporate training programd and identifyingpotential clients, Chadwick expects to increase the numbef of deals. He will use a combination of direct mail and webinars to find businessezs seeking to sell andprospectivde buyers. In the Dayton office last Sunbelt brokered15 deals. It has handled six in Daytoj so far this year and expects to close 16by year’s end. Chadwick said the Cincinnatiu office, which closed seven deals last is on pace to broker six dealsthis year. Tim the former owner of Sunbelt of is continuing to work for Sunbeltr asa broker.
Chadwick’s Dayton office had seven independent contractors beforwethe purchase. Now, Chadwick has 10 and is lookinb to add three more this year in theCincinnati office. The Cincinnatui office is using rented spaceat , an executive suitre space in Blue Ash. Chadwicm plans to find new office spacew in Blue Ash or West Chester in the next12 Sunbelt, which is based in Independence, has more than 300 franchisede offices in 30 countries. Jim president of Kettering-based , said the acquisitiojn into the Cincinnati marketmakes sense.
“They will gain the economies and synergies of two marketds that aresomewhat compatible,” said Sachs, whose company also handles business brokerage and mergers and acquisitions. Sunbelt of Miamu Valley specializes in brokering dealsfor “main stree t businesses,” or single-owner businesses that have sales of up to $2 millioh a year. It also handlezs some deals inthe low-end of the mid-market, with companiesx that have sales of betweej $2 million and $15 million a year. Sunbelrt recently brokered the saleof Dayton-based , a nationall maintenance service provider, to a group of investors for more than $1 Chadwick said his office is not focusecd on any one industry.
It works with buyerz and sellers ofmachine shops, tax service restaurants, car washes and other small businesses. Chadwick said there has been arecent uptick. He has seen a 25 percenty increase in calls from buyers and a 10 percent to 15 percenty increasefrom sellers. Chadwiclk said people are more interested in owninf their own business because they want to have controol of their income stream durinyg a time when many people are losinghtheir jobs. Sachs said he also is seeingv interest bubbling as displacefd individuals are looking to buy businesses to supplemenytlost income.
He’s also seen good companies looking to buy competitors because now is a good time for them to buy at a low Onthe sellers’ side, Chadwick said many business owners who don’t have succession plans are looking to sell and He also said the economy has caused some business ownerx to look to Sachs said he is seeinv a high number of distressed or those that may not have the capital to survive throughh the economic downturn, looking for buyers. This is keeping firmsw like Sunbelt andBattelle busy. “That makes it a vibran market, but it’s not Sachs said.