Location: Newport News, Virginia
Industry: Meat Packing and Product Distribution
Vista Business Group Role: Represented the seller, but also worked very closely with the buyer and helped both sides accomplish their goals.
The Buyer: Was a longtime employee and current manager of the business. He didn’t think he could afford the business, but dreamed of someday becoming the owner.
The Seller: The seller was ready to retire, preferred to sell the business to his manager, but wasn’t sure he could swing the transaction.
The Transaction: The owner of the business was ready to retire and met with Bart Davey to start the process of selling the business. During the interview process Bart recognized that the long time manager of the business was qualified to own the business. The owner preferred to sell the business to his longtime employee and the employee desired to acquire the business. Bart introduced the manager to an SBA lender and worked with buyer, seller and the bank to the conclusion of the transaction.
Testimonial: "With assistance from the professionals at Vista Business Group I was able to purchase Miller Meats from the retiring owner of the company. I started at Miller right out of school and through hard work rose to the position of vice president and general manager. The owner reached retirement age in 2015 and contacted Vista Business Group to find a buyer for the company he had run for 40 plus years. Vista recognized that I was running the operations of the business and indicated that they had a source that could provide the funds necessary for me to acquire control of the company. They assisted me and the former owner on a daily basis through the process of completing the transaction. I would recommend them to anyone looking to buy or sell a business."