Jet Stream Fabrication located in Springdale’s manufacturing district has been acquired by Stephanie and Alan Hackleman. Carol Gresham, CBI Northwest Arkansas Senior Intermediary brought the Seller and Buyers together earlier this month. “As the business Intermediary for the listing and purchase, the process of helping both Seller and Buyer was timely and efficient,” said Carol Gresham.
The Seller of Jet Stream started and developed the company over twenty years ago. Jet Stream is known as the “go to” shop for expertise and precision when designing or copying a machine part of any type or size. The term “jet stream” is water jet cutting which allows the user to shape or modify materials such as plastics, ceramic, and stainless steel. This type of cutting offers the same precision of a high intensity, heat-based cutting process without any of the corresponding defects. Jet Stream Fabrication is also known for their work in designing one-of-a kind objects used for marketing and signage for businesses.
After 20+ years in the industry the Seller was ready to retire. Mr. and Mrs. Hackleman were looking for a business in Northwest Arkansas to be closer to family, the Hacklemans are originally from Southwest Kansas. Alan Hackleman has advanced degrees and training in mechanical and architectural engineering. Funding for the business was through BORSA (Business Owners Retirement Savings Account) utilizing Mr. Hackleman’s IRA. BORSA allows qualified retirement accounts such as 401k to be used to fund the purchase of a business with no IRS taxes or penalties, no matter the age of the IRA holder.
CBI served as Advisor to the Seller. During the process, CBI identified many other prospective buyers. If you’re thinking about selling your business now or in the next couple of years, CBI has a buyer database with thousands of prospects. Contact CBI today!