ROCKLAND, MA and LINCOLN, RI, ISSUED August 12, 2019…ROI Corporation (http://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.