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.