Atlantic Business Brokers Successfully Sold Corporate Catering and Pizzeria, Pennsylvania…
New Jersey, United States
Atlantic Business Brokers Successfully Sold
Accredited Franchised Home Health Care Agency, New Jersey
The challenge: The Home Care Company was being sold as a carveout from 2 other existing homecare agency’s that the partners owned. The one partner was relocating to another state and the location in New Jersey needed to be sold. During the sales process the pandemic was in full force and the state of New Jersey as well as other states had implemented full lockdowns, this was especially challenging as the business started to see a drop off of clients and care givers. The company also received a large PPP loan for the entire operation. We had a carveout, a pandemic and PPP Loan monies that needed to be addressed, the challenges were abundant.
The solution: The seller contacted Atlantic Business Brokers and retained the company to sell the business quickly, confidentially and for the best possible valuation. To effectively sell the company in a timely manner while getting the highest valuation, we put together a comprehensive Offering Summary and started an aggressive marketing campaign. As our marketing campaign had taken off to a good start and buyers were showing interest, meetings were being set with the owner and offers were being presented, by early April 2020 everything was put on hold. The plan changed quickly, and we began to monitor the client census weekly and monthly and as the company stabilized and began to get back to pre-pandemic levels by early fall of 2020, we were able to get interest levels up again. Our marketing highlighted a company that, even though was initially impacted by Covid, the services were greatly still needed, and a rebound was in process and eventually the company was back to normal levels.
The results: As the company had stabilized its census, we revamped the marketing and were able to secure a qualified buyer. The buyer was able to secure an SBA loan and the transaction closed the first week of January 2021.
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