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SOLD! Ace Hardware in Coweta, Oklahoma

Pictured from left to right; William Gilstrap (Seller) and Darryl DeMoss (Buyer)

Originally built in 1903 as Morrow Hardware, Coweta Lumber & Hardware has provided the Coweta, Oklahoma community with all home improvement, repair, construction and do-it-yourself needs. William Gilstrap bought the business in 1999 and made several substantial changes such as; extensive expansion and remodeling, adding the lumber hard lines and acquiring the ACE brand.

Roy Still, intermediary for the CBI+Team in Tulsa, Oklahoma met the Seller of Coweta Lumber & Hardware, William Gilstrap, at a networking event in early 2013. Shortly afterward, William signed an engagement for the CBI+Team to represent him in the sale of his business. Using CBI+Team’s strategic marketing efforts, Roy was able to find a large amount of interest for Coweta Lumber & Hardware in a short period of time. The best match for the business, however, came when he reached out to another CBI+Team member, Dan Evans.

Dan Evans, intermediary for the CBI+Team in The River Valley region of Arkansas/Oklahoma, received an inquiry from Darryl DeMoss in 2013 about another business he had listed for sale. After Dan provided Darryl additional materials about that business, Darryl determined that it didn’t quite fit his needs. However, during a weekly CBI+Team conference call, Dan learned several details about Coweta Lumber & Hardware that he believed would intrigue his buyer. Dan presented his buyer, Darryl, with the opportunity and set
up a time for both of them to meet with Roy Still and the Seller.

During the meeting, the Seller and Buyer spoke at length about the details of Coweta Lumber and Hardware. Much like CBI+Team members, the Buyer and Seller formed a great relationship and a perfect match was made.

Several hurdles appeared while approaching the date of transfer, but thanks to Roy Still’s problem solving and deal making ability all issues were all taken care of prior to sitting down with the closing attorneys.