Plumbing / Water Heater Sales & Service
Annual Revenue RangeUnder $20 million
Referral SourceResidential real estate agent
Find options for a business owner to sell despite perceived low-to-no value remaining in the business.
A second-generation plumbing company owner was ready to transition to retirement due to multiple medical issues that had put him out of touch with business operations for a few years. The company experienced declining revenue, leaving several unsatisfied employees. The owner sold the land to a developer, believing the company held little to no value.
Brainstorm ideas to sell the business instead of closing its doors. The residential and commercial agents reached out to us to brainstorm on ideas for how to handle the sale of the business instead of just closing its doors.
Freeman Lundt found a buyer that could diversify its product offerings by purchasing this company, moving its firm to their current headquarters. The buyer more than doubled other offers by competitors. Freeman Lundt negotiated bank financing for the buyer because the owner’s CPA prepared financial statements that tracked the progress of the company beyond the owner’s absence from the business.
Most importantly, through strategic planning, Freeman Lundt saved the business owner $280,000 in taxes by staggering the time of closing for the business and real estate transactions. Through this transaction, the referring agents received additional residential and commercial real estate opportunities.