In a recent transaction, two storied Northwest Arkansas ServiceMaster Clean Franchises came together as one after 10 years of direct competition. ServiceMaster Restoration Northwest, owned by Marshall and Vicki Henson, sold its “Disaster Restoration” division to ServiceMaster by Quality Restoration, owned by Wayne and Judy Bryant. The transaction allowed the Buyer to add Benton and Carroll counties to their exclusive franchised service area of Washington County.
In January of 2012, the sellers used a third-party, certified appraisal to establish an appropriate sale price for the business and in March of this year, hired CBI+Team advisor David Proffitt to confidentially sell the company. Over the next five months, approximately twelve hundred prospective buyers would learn of this opportunity before its eventual sale, yet only one would create the best fit. Sometimes the best and most logical buyer for a business is its closest and most direct competitor.
CBI Intermediary David Proffitt arranged an introductory meeting between the Hensons and the Bryants to formally introduce and discuss the business opportunity in depth. After the meeting, at Proffitt’s direction an offer to purchase was submitted by the Bryants and the Hensons were given a week to accept or counter. In an effort to identify the best possible deal for the seller; David Proffitt leveraged the initial offer by contacting other ServiceMaster franchises regarding the Northwest Arkansas opportunity. Without Proffitt identifying the amount or terms of the original offer, what followed was a lightning-quick sequence of events which included a secondary offer being written by another regional franchisee.
The Hensons were presented with both offers and chose the one offered by the Bryants. Upon acceptance of the offer to purchase, due-diligence was completed and a closing date was set for the middle of September.
ServiceMaster by Quality Restoration will now offer its fire/water/smoke damage restoration services to all major counties in Northwest Arkansas. Quality Restoration owns additional offices in Central Arkansas and in the River Valley area of Arkansas. Service Master Northwest will continue to operate the Janitorial & Commercial office cleaning division in Benton and Carroll counties.
To learn more about how to receive help selling your business contact The CBI+Team at (877) 582-5200 or firstname.lastname@example.org