ROI Corporation brokers sale of Faro’s Restaurant in Laconia, NH; iconic landmark is popular host site for annual Laconia Bike Week

LACONIA, NH and ROCKLAND, MA, ISSUED FEBRUARY 18, 2020…ROI Corporation , a leading firm for the transfer of ownership of businesses, today announced the recent sale of the iconic Faro Italian Grille, an Italian fine-dining restaurant in Laconia, NH.

 

Gary Rayberg, listing broker, and Peter Spanos, the selling broker, both represented the owners of the restaurant, brothers Richard and Michael Ray.

Faro Italian Grille specialized in the “fast-casual” model of Italian dining to the area, and it was a popular host site for vendors of the annual Laconia Bike Week, a motorcycle rally held annually in June in Laconia. The rally originated with the Loudon Classic motorcycle race which traces its roots to 1923.

 

Terms of the sale were not disclosed; the transaction was completed earlier this month. The new owner of the restaurant is Robert (Rob) Csendes, who owns property nearby. He has said that he will open the restaurant for Bike Week and invite the bike week vendors to set up on his property as usual.  Bike Week runs from June 13 to June 21 this year. He said that he is considering several options for the property following Bike week, which could include either renting it for use as a restaurant or potentially opening a wedding or event venue.

Richard Ray, one of the former owners of Faro’s, said “I really want to thank the customers of the restaurant, the employees and the bike week vendors for their support. It was a great run.”

He further said, “Working with Gary and Peter of ROI made the process of selling the restaurant much easier.”

Rayberg said, “It was a pleasure to work with Richard and Michael on this transaction. They have become an integral part of the Laconia business community and landscape, and we wish them all the best in their next venture.”

Spanos added, “We also want to thank Rob Csendes and wish the new owner the best of luck. It is a pleasure to help with the transition of such a local landmark.”

About ROI Corporation

ROI Corporation, DBA in NH as Business Brokerage and Valuation Services, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division.  Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut.  For more information, please visit www.roimergers.com or call (781) 682-6209.

 

ROI Corporation Brokers the Sale of Murphy HVAC

In their third quarter of 2019, Vice President Denis Mezheritskiy brokered the sale of Murphy’s Air Conditioning, Heating and Plumbing of South Yarmouth, MA; adding to the many HVAC and Plumbing companies ROI has brokered over the years.  

 

The business was established in 1981 but acquired by Devin Murphy with the help of ROI Corporation’s President Gary Rayberg in 2009 when it was then known as Souza’s HVAC. Murphy’s Air Conditioning, Heating and Plumbing was originally established as a stand-alone HVAC company, but as the company grew through series of successful acquisitions, it became the largest HVAC service provider in its region grossing millions in yearly revenue.  

After ten years successfully leading the company, Devin Murphy decided to retire, and contacted Gary Rayberg to re sell the company and mastermind an exit strategy. Gary turned to ROI partner and VP Denis Mezeheritskiy to lead the project. One of the crucial components of an exit strategy is having a broker who can see the potential of your lives’ work.  Denis Mezheritskiy recognized the well-oiled management team, systems and relationships Murphy had built and knew exactly how to market it to buyers. Murphy’s Air Conditioning, Heating and Plumbing was in prime position as an anchor or platform company and perfect for creating a hub for future business growth through acquisitions. Working with an internal list of select buyers, Mezheritskiy held a controlled auction which allowed the market to determine the worth of the company. The strategy implemented was very successful and enabled the very happy acquistion of Murphy’s Air Conditioning, Heating and Plumbing of South Yarmouth, MA.  

This marks ROI Corporation’s 22 HVAC & Plumbing business sold in the last few years. Their success is due to several factors that makes ROI the premier business brokerage firm in New England. The staff at ROI painstakingly craft a list of qualified buyers who are waiting to look at your business and we have more financially qualified buyers than ever. Interest rates are low and the SBA is backing banks to finance buyers.  

Don’t want to sell yet? We have a proprietary system to help you identify how to rapidly build the value of your company, so we can help you sell for a higher price in the future. Ask us about our Value Maker Program  

You might recognize some of the names of the fine HVAC/Plumbing companies that we have brokered in MA, NH and RI. Your peers trust us. Now it’s your turn.  

 

 

Vice President of ROI’s Medical Division Lyn Triffletti Appointed to BIDMC Board

Press Release ROI Corporation

ROI Corporation is proud to announce the Medical Division’s Vice President Lyn Triffletti’s recent appointment to Beth Israel Deaconess Medical Center’s Leadership Board and Foundation Committee. Ms. Triffletti was nominated by BIDMC Trustee Advisory Board member emeritus, Harold Solomon, MD. Dr. Solomon and Ms. Triffletti worked together at Harvard University where they provided education to graduate residents on the business and revenue aspects of medical practice.

Lyn Triffletti is no stranger to prestigious titles. She was previously VP of Regulatory Affairs at a major Boston hospital, and has been a corporate compliance officer for several physician groups, as well as for a 4500-employee private firm in southeastern Massachusetts. She has worked extensively with health care attorneys in Massachusetts, Rhode Island, Connecticut and New York. Ms. Triffletti served as CEO of the innovative Physician Chart Auditors (PCA) for over 15 years and in 2013, in conjunction with Lauren Hartigan, founded Scribe Partners.

Scribe Partners fulfills a growing need in the medical marketplace to help physicians complete their notes accurately in the electronic medical record (EMR) on time and cost-efficiently. Physicians are partnered with a qualified graduate of Scribe Partners proprietary training program. Scribes help medical facilities stay ahead of the curve in this regard, as scribes free physicians from time-consuming documentation responsibilities.

She continues to impart her brilliance in the healthcare business field as Vice President of ROI Corporation’s rapidly growing Medical Division. She brings more than 30 years of experience and assists in helping those seeking to sell their medical business through valuations and helping match them with interested and qualified buyers.

About ROI Corporation

ROI Corporation, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division. Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut. For more information, please visit us on the web at www.ROIbusinessbrokers.com or call (781) 682-6209.

Two Tasks That Will Increase the Value of Your Business In 2020

Better positioning your business is always tough, entrepreneurs like yourself are constantly working on their business in the day to day sense. What lies ahead for you in the next year? In the next three years? Even if you’re not planning on selling your business soon, these two tips combined can increase the value of your business, streamline your process and increase revenue.  

 

TIP 1: CLIENT/CUSTOMER CONCENTRATION – We all love our biggest clients, frankly they help pay the bills. However, as a business owner you should scrutinize these clients if they represent 15% or more of the business’ revenue. Why is that you may wonder? A business buyer will look at a large customer concentration of over 15% of gross sales as a risk to the business and a discount to the value. How long would it take your company to recover business lost if one or two of these larger clients should ever leave? In order to decrease the risk for you the current owner, we highly recommend reducing the percentage by two ways. Bring in more clients and start reducing the amount of work the larger clients/customers are receiving. This will not only make maintaining profitability easier, it increases the value of your company while also decreasing your risk. Bottom line: You don’t want to give up the large clients, you simply have to diversify.

 

TIP 2: JUNIOR MANAGEMENT PLACEMENT – Is everyone in your senior management team near retirement? It might be an awkward conversation to have or plan for but it is absolutely necessary to secure the future of your business. When it comes down to selling a business, a business buyer will look at your Senior Management and must consider the risk of replacing them if they’re near or at retirement age. Your staff has invaluable experience in the industry and that knowledge should have longevity past their time with your company. Hiring junior representatives who are ready to take over when the times comes ensures that the momentum of your business is uninterrupted. In today’s world where boomers are aging out of businesses and jobs one of the biggest issues ROI has encountered is the worry of who will carry the expertise once the current person is gone?

 

An example for further context and for privacy we won’t mention the industry. ROI’s consulted with a company that had a customer concentration of 35%. The owner had his hand in everything and there wasn’t a management team at all. Great for the owner and his business until it came to retirement.  What does one do with their life’s work when you’re ready to move on? They turned to ROI and our President Gary Rayberg. ROI’s valuation of the business was $1.9 million and the owner (for various reasons) decided not to sell at the moment. They did however heed the advice ROI had given, the company made steps to reduce the customer concentration and hire one person to learn the management role. Two years later they returned to ROI having reduced the customer concentration to 18% and hired a management apprentice. The company valuation increased to $2.4 million with the changes. Reducing risk increases stability and affects value positively, don’t let the short term expense scare you away from long term thinking. Don’t know where to start? ROI can help.

ROI Corporation specializes in the steps before you even consider selling your business. Consultations and Valuations would be the first step into increasing the value of your business and also setting you up on the right track for the year. Call today to speak with someone about how to increase the value of your business, reduce your risk and create long lasting stability.

For more information, click to watch a quick video seminar on increasing the value of your business:  Free Video Seminar

No Deal Goes Smoothly; Lessons from An Expert in The Industry

Our president and owner Gary Rayberg sits down with Business Exit Stories host Marvin L. Storm and recounts the highs and lows of his long tenured career. For over 20 years, Gary Rayberg and his team of brokers at the ROI Corporation have successfully brokered the sale and acquisition of countless businesses as well as real estate throughout 39 states.

What has gone well? What has gone awry? In Business Exit Stories’ 19th episode, recorded on October 28, 2019, Gary and Marvin dive deep into four tales of industry and impart important lessons through experience and excellence. The highlights are below.

Time can kill any deal. Gary discusses working with a seller off and on over three years and how one can work through seller’s remorse and the often unspoken emotional turmoil that goes into selling your business. Gary emphasizes the importance of understanding the structure of a deal after a private equity groups attempts to use the seller’s own funds to purchase the company. ROI Corporation’s eagle eye prevented a loss of 1.4 million and empowered the seller to walk away.

Seller’s dishonesty discovered after sale. Industries are ruled by margins and even 1% change can greatly impact a business. The savviest of buyers and due diligence on the part of three separate entities couldn’t have predicted this erroneous lapse in accounting practice. The buyer thought they were buying a successful food distribution business with a margin of about 20% but soon after discovered bad business practices had inflated those numbers by half. After months of reviewing the numbers, the owner discovered ultimately, the problem lay on the packing floor. Five months after closing the sale and after speaking to operations manager, “tapping” of products was uncovered.

What do buyers think your business is worth? In a bold and outstanding move, Gary takes a medical related service company and placed it in a controlled informal auction setting. Gary invited eight best possibly interested buyers. This provides just enough competition to generate interest.  Seller approves the buyer package and was available to answer questions via conference calls. The result was three offers, two offers in the two to four million range and the third was an offer of ten million. A good business intermediary will be able to determine when it’s a good time to let the market decide what the business is worth.

Repeat income is king. Not two businesses are alike. In this case comparison, Gary discusses two sales brokered roughly in the same time period of similar industries. Although one of the businesses did about 12 million dollars in sales, they also had the challenge of their customer base being 95% one-time business. The other company did significantly lower business of about 4.7 million in sales; however they built their repeat residual income by including service contracts with 1500 of their clients. As a result, they sold in three months versus the three years with the previous company.

To listen to this episode:  https://businessexitstories.com/2019/10/28

To find out more about Business Exit Stories and Marvin Storm please visit his website: https://businessexitstories.com/

East Branch Delivery Services Inc., Sold to PAF Transportation!

The ROI Business Brokers are pleased to announce another sale – East Branch Trucking
Company! Located in Auburn, Maine, this successful LTL carrier focuses on the transportation
of palletized freight to niche markets. Although the company is incorporated in Maine, it serves
all 6 New England states from 4 well located cross dock locations with a total of 27 doors and a
generous fleet of trucks.

The regional trucking company was sold by longtime owner Thomas Boyd who says he’ll stay
on board for another year before moving to the West Coast to be with family. “Everything went
very well [with Gary and ROI]” says Boyd. He will continue as General Manager assisting new
ownership.

East Branch was acquired by Portland Air Freight and thankfully, over 50 well qualified CDL
drivers, most with Hazmat endorsements, will still have jobs during this acquisition. Another big
plus of this acquisition is that in 2011, PAF made the transition to an Employee Stock
Ownership Plan (ESOP), meaning it is 100% employee owned! This is a huge benefit for the
once East Branch employees to embody the new ownership transition knowing that everyone
working at PAF has a financial stake in the success of the company.

Gary Rayberg, President of ROI Corporation, was the broker in this transaction. On facilitating
the sale of East Branch, Gary commented “I enjoyed working with Tom and Alan. Two great
guys. It was a very friendly transaction. I wish them both the best in their future endeavors.”

ROI is a premier business brokerage and valuation services firm servicing MA, NH, RI, CT and
the southeast from Marietta, GA. If you have any interest in selling or valuing your business, or
are looking to buy a business, contact ROI Business Brokers today! We can be reached by
phone at (781) 682-6209 or via web at www.roibusinessbrokers.com.

 

ROI Corporation brokers sale of R.W. Bruno to GEM Plumbing and Heating

ROCKLAND, MA and LINCOLN, RI, ISSUED August 12, 2019…ROI Corporation  (https://roibusinessbrokers.com), a leading firm for the transfer of ownership of businesses, today announced the completion of the sale of R.W. Bruno, an HVAC mechanical contractor located in Lincoln, RI, to GEM Plumbing & Heating.

Gary Rayberg, principal at ROI Corporation, represented R.W. Bruno in the transaction and worked with owner Glenn Bruno to facilitate a seamless transition of ownership. Founded in 1967, R.W. Bruno has provided commercial air conditioning and ventilation needs in New England. Over the years, the firm has worked with a number of clients including Dick’s Sporting Goods, Citizens Bank, and Rhode Island School of Design. The firm employs approximately 22 people; and owner Glenn Bruno will remain with the new company to help manage the firm’s commercial division.

GEM Plumbing and Heating, the acquiring company, has served Rhode Island, Connecticut and Massachusetts since its founding in 1949. The family business is managed by brothers Larry, Lenny, and Eddy Gemma. Gem has over 250 employees and over 165 trucks, making it one of the larger service companies in the United States. GEM provides installation, maintenance, and repair services across plumbing, HVAC, electrical, drains, and more for homeowners, businesses, and construction customers. The business has locations in Lincoln, RI; and operates Massachusetts locations in Walpole and Wakefield.

Glenn Bruno said, “We were very pleased to work with Gary and his team when we decided to list our business for sale. They were thorough, professional, and very helpful. We’re very pleased to be transitioning our business to GEM and I look forward to being part of this new organization.”

Gary Rayberg said, “It was a pleasure working with Glenn on this transaction. He and his team are great people and they have an excellent business. They will be a great addition to GEM.”

He added, “The HVAC industry is one that is increasingly in demand by people looking to buy businesses as so many businesses are transitioning to new ownership. ROI has worked a great deal in this industry and we are always glad to assist anyone in the purchase or sale of one of these businesses.”

About ROI Corporation

ROI Corporation, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division.  Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut.  For more information, please visit www.roimergers.com or call (781) 682-6209.

 

ROI Corporation brokers sale of Anderson Plumbing & Heating

ROCKLAND, and WEYMOUTH, MA, ISSUED AUGUST 12, 2019…ROI Corporation  (https://roibusinessbrokers.com), a leading firm for the transfer of ownership of businesses, today announced the sale of Anderson Plumbing & Heating of Weymouth to Sila Plumbing, a large firm which provides home service solutions for residential and commercial property owners throughout the Northeast, with locations in Rockland, MA and King of Prussia, PA.

Gary Rayberg, principal at ROI Corporation, represented the seller, David Anderson, who will become part of the Sila team. Terms of the sale were not disclosed.

Formerly Vincent Anderson and Sons Inc, Anderson Plumbing & Heating is a 2nd generation, family owned and operated plumbing and heating company with over 60 years of experience. Dave Anderson said, “When we decided to sell our company, we knew that we needed the assistance of a broker with industry experience, someone who would know how to reach out to the best prospective buyers. Gary and his team were very professional to work with and the experience was great.”

Rayberg said, “We congratulate both David and the Sila team on this transaction. We believe this is a good move for both companies. We found David and his group terrific to work with, and we wish them the best of luck.”

He added, “The HVAC industry is one that is increasingly in demand by people looking to buy businesses as so many businesses are transitioning to new ownership. ROI has worked a great deal in this industry and we are always glad to assist anyone in the purchase or sale of one of these businesses.”

About ROI Corporation

ROI Corporation, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division.  Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut.  For more information, please visit www.roimergers.com or call (781) 682-6209.

 

ROI’s Don Buehler earns Prestigious Certified Business Intermediary (CBI) Designation

WOBURN and ROCKLAND, MA : ROI Corporation (https://roibusinessbrokers.com), a business brokerage firm serving all of New England, is pleased to announce that Don Buehler, a resident of Woburn, MA has earned the prestigious Certified Business Intermediary (CBI) designation awarded by the IBBA (International Business Brokers Association).

The CBI, which represents the gold standard in the business brokerage industry, is granted to individuals who complete required course work, pass an extensive competency exam, and agree to uphold the IBBA’s Professional Standards and Code of Ethics. In addition a deal they have completed is reviewed by a committee of peers.

“Earning the CBI takes dedication to the craft of business brokerage and demonstrates a personal commitment to excellence,” stated Jeff Snell, IBBA Credentialing Committee Chair and 2019 IBBA Board Chair-Elect.  “The CBI is a clear indicator of knowledge and experience, and we encourage business sellers, buyers, CPAs and other professionals to look for the CBI designation when selecting a business broker to work with,” added Snell.  Gary Rayberg, president of ROI Corporation, a leading business brokerage firm in New England concurred, “We are proud to have Don on our team for many years now. This designation is well deserved and adds to Don’s extensive experience and his ability to provide excellent service to his clients.”

Buehler’s career started as a store manager with McDonald’s Corporation, where he worked his way up to the ownership of 6 franchises, which he operated for 15 years. He sold these to pursue his own restaurant concept, Krazy Karry’s Backyard Grill, which he operated for 7 years. He has been affiliated with ROI Corporation since 2011.

Gary Rayberg, president of ROI Corporation, said, “We’re very proud of Don’s accomplishment.  He understands the rigors of owning and operating a business. Don brings a wealth of practical, operational and technical knowledge to any deal. He can empathize with business buyers and sellers, and analyze how to best help them achieve their goals.  His engagements over his seven plus year career as a business broker at ROI include working to sell businesses in the areas of manufacturing, service, distribution, retail and hospitality. This wide array of experience affords him the ability to understand and work successfully with many types of businesses whose owners are ready to transition ownership.”