Pictured left to right, Sellers Pat and Dale Adams and Diana Hartfield, CBI Senior Intermediary Carol Gresham and Buyers Mike and Lauren Fields
The sale of Adams Truss has successfully been facilitated by CBI and Senior Intermediary Carol Gresham. Adams Truss is a well-established Gentry Arkansas steel truss building company located on Hwy-59. Pat and Dale Adams chose Carol Gresham to aid in the sale of their lifelong business and success has occurred. “It has been a real pleasure working with the professionals at CBI. From the very start, Carol Gresham and Kelly Tivis efficiently guided us through each step along the way to a successful sale of our business,” said Pat Adams.
Fred Adams, Dale’s Father started Adams Truss in 1955 as a welding and machine shop. In 1966 he started manufacturing steel engineered trusses. Fred passed away in 1975 and his son Dale took over the operations of the company along with his two sisters Dolores and Diana. Serving each customer with service above all others became one of their building blocks and reasons the company continued to grow in recognition across the United States and beyond.
The new owner of Adams Truss, Mike Fields, is a native of Northwest Arkansas and plans to continue this family tradition. After the sale Mike said,” During my first meeting with Carol, she was able to discern the type of business I was looking for based on my background and interests, leading me to the perfect business, Adams Truss.” The Gentry location on Hwy-59 shows high growth potential with the new Hwy-49/71 bypass to Kansas City nearing completion and traffic counts on Hwy-59 increasing daily. Along with the popularity of barn-dominium and DIY truss building kits offered by Adams Truss shows great potential for future growth.
them (479) 736-8581 if you are interested in their products or services.
CBI is pleased to have been the business Intermediary for this transaction. During the listing and sales process, CBI identified many other prospective construction-related buyers. If you have been thinking about selling your business, CBI has a buyer database of many qualified prospects. Contact CBI today!
Loans4Biz Helps Fund Purchase of Adams Truss
After his offer to acquire Adams Truss was accepted, Mike decided to participate in the Loans4Biz (L4B) program – a service provided by CBI’s Management Team to buyers/borrowers who need to obtain financing for acquisitions.
Kelly Tivis, the Loans4Biz Program Administrator, worked with Mike to prepare all documents typically required by lenders who are interested in financing business acquisitions. His resume, financial statement, business plan and all other documents were reviewed and revised as needed. Then all documents for the buyer and the seller were gathered and uploaded to a Confidential Deal Room (CDR) for review by interested lenders.
Since the terms for bank financing and owner financing in the original offer resulted in challenges to debt service coverage ratios, L4B Program Administrator Kelly Tivis suggested that lenders be allowed and encouraged to re-structure the deal.
Within a matter of days after the deal was presented to lenders, Mike received several different proposals with various structures proposed – and he ended up selecting a proposal that offered a very competitive interest rate and included a generous amount of working capital.
Seller Pat Adams said, “CBI was efficient in finding the best buyer for our business.”
Kelly continued to work with Mike and the selected lender to obtain any additional documents and information required…until the day that the deal closed successfully.
Buyer Mike Fields said, “CBI Team was helpful in working to obtain the best financing options through their Loans4Biz service and provided a smooth closing and transition of ownership.”
The Loans4Biz program saves participants time and money by offering the following benefits:
– Assistance with gathering and completion of documents required by most lenders
– Initial communication with all lenders managed by the Loans4Biz program manager
– Much better chance of finding a lender who is interested in providing a loan
– A number of financing options presented for consideration
– Thousands of dollars of interest saved over the full term of the loan
Although the Loans4Biz program was created to assist buyers of businesses listed by CBI, the benefits of using the Loans4Biz program are available to anyone who needs assistance with financing…whether or not you are buying a business listed by CBI.
To learn more about the Loans4Biz program, contact Kelly Tivis office: 479-770-8989 or kelly.tivis@cbiteam.com
Ready to buy? We’re sure to help you find the perfect opportunity. Call us today to get started with a no-obligation, confidential consultation. Call toll free at Phone 877-582-5200 or email confidential@cbiteam.com
Explore some of our featured listings below. Simply click the blind business link below to view additional details.
Many people mix up re-occurring and recurring revenue, but one is much more valuable than the other.
Re-occurring Revenue
Re-occurring revenue comes from customers that have a re-occurring need for whatever you sell and buy from you on an unpredictable yet regular basis.
Imagine a health food store. Customers come in to replenish their supply of vitamins when they run out. The owner is never quite sure when a customer will be back, but she’s pretty sure they will return when they run low on a critical supplement.
Recurring Revenue
Recurring revenue comes from sales to customers that buy from you on a predictable, automatic cadence, for example, a subscription or service contract…
Two words/phrases that have dominated the business community since 3/2020:
Pivot. Everyone in business it seems has pivoted or needs to pivot or failed to pivot.
Before last year pivot was, to me, a position played by the tallest guy on the basketball team.
Or it was the funny move Curly of the Three Stooges did when he planted his left foot and spun around in a circle.
Now it’s a serious business term meaning, “We were doing that and now we’re doing this,” as in we were meeting our clients in person, face to face, and now we’re doing only online meetings, or “We were delivering a quality dining experience in our restaurant but now we’re delivering or doing pick up only.”
A change, a quick change in order to meet the unexpected demands placed on us by the government and Covid.
Some pivoted and survived but others were unable to do so and have gone away to where failed businesses go…
CBI Insights/Webinar Video Excerpt : Seller Financing Part 14 of our UASBTDC Webinar Excerpts
University Of Arkansas Small Business, Technology & Development Center Hosts Session On Buying & Selling Businesses
During an Arkansas Small Business Technology & Development Center (ASBTDC) panel discussion, CBI shares perspective about selling and buying a business. In this short one minute video, CBI’s Northwest Arkansas Managing Partner Jon Holbert and CBI’s Founder Carl Grimes discuss the typical valuation process that goes on here at CBI.
In this excerpt, CBI discusses valuing service business describing what they are and how they can be justified.
Interested in a CBI leader talking with your organization or helping you discover answers to your questions about buying or selling a business? Contact CBI at confidential@cbiteam.com.
To learn more about ASBTDC programs, information or to register for other ASBTDC upcoming events, visit: https://sbtdc.uark.edu.
Friday Featured Franchise
Become the owner of this growing nationwide franchise; leader of fresh baked, grab and go snacks with a primary focus on world’s best quality baked goods! The franchises’ products can be found in traditional brick and mortar locations (Walmart, Meijer, Simon Properties, and more) and are enjoyed by millions at venues nationwide.
This Franchise towers over other competitors because. It’s an Amish-inspired recipe. The dough is made fresh, on-site, daily. The snacks are hand rolled and use imported German salt. Offering exceptional customer service and a simple proprietary customer service and training program. We also provide our secret ingredient, LOVE.
This brand has a strong name in the snack game, if any further questions or if interested in becoming an owner of this franchise please contact CBI today!
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