News & Insights

How to Buy or Sell a Business-Traverse City

Thursday, May 12, 2016
 

The goal of this seminar is to inform business owners and others on the many aspects of purchasing or selling a business.

Speakers 

  • Eric Seifert, Growth Consultant/SBDC
  • Greg Light, Rehmann,
  • Alex Calder, Rua Associates
  • Tim White, Smith Haughey Rice and Roegge
  • Huntington Bank, Cyndi Raisanen
  • Intentional Wealth Advisors, Brian Ursu

Topics Include:

Topics to include:

•Business Valuation

•Preparing to Sell

•Due Diligence

•Financing Your Purchase

Event Details

What: How to Buy and Sell a Business

Who: Business owners and others who desire to learn about acquiring or selling a business as well as other professional business advisors

When: Thursday, May 26, 2016  8:30 AM-12:00 PM.  Breakout sessions will target buy and sell side challenges. There will also be a panel discussion at the end.

Where: Northern Michigan College, Hagerty Center, Traverse City, MI 49686

Cost: $25.00 

To register: https://clients.sbdcmichigan.org/workshop.aspx?ekey=21360017

Questions? email us: marketing@ruaassociates.com or phone us: (616) 741-9344

Maximize the Value of Your Business

Friday, April 29, 2016
 

The goal of this seminar is to inform business owners how to maximize the value of their businesses

Speakers 

Carol Crawford, President, CSquared Advantage, Inc., Alex Calder, Sales and Marketing Manager, Rua Associates, Kristin Britt, Managing Partner, Britt Morant P.C.


Topics Include:

Just some of the topics that will be presented are:
  • Three Attributes Of a Scalable Business Model
  • The Eight Factors That Drive The Value Of Your Business
  • The Six Forms Of Sustainable Recurring Revenue

Event Details

Presented by: CSquared Advantage, Inc.

What: Maximize The Value Of Your Business

Who: Business owners 

When: Monday, May 16,  2016  8:00 AM-1:00 PM.  

Where: Watermark Country Club, 5500 Cascade Road SE, Grand Rapids, MI 49546

Registration information: 
https://www.eventbrite.com/e/maximize-the-value-of-your-business-grand-rapids-mi-registration-24484186862?dm_i=1IOM%2C46AKB%2C7YR3G2%2CF6

Cost: $49.00

Testimonial from Sellers of Pro-Temp

Monday, April 25, 2016
 After running Pro-Temp successfully for 30+ years, we decided that it was time to choose a partner to help us market our firm and prepare for the transaction.

Rua Associates’ preparation process was thorough and it allowed us to be well prepared. We felt ready when we went to market. The Rua team filtered out potential acquirers that were not a good fit and our time was better utilized meeting genuinely interested buyers.

Pankaj, our Rua advisor, was present at all our evening meetings with potential buyers to help with any questions and to assess each individual buyer’s personality.

The process of selling a business can be long and complex but Pankaj was able to provide us with good guidance along the way by interacting with potential buyers and working with our CPA to ensure the deal structure worked for us from a tax stand point. Rua Associates also worked with our attorney to fine tune the agreement wording and minimize legal fees.

We found the right buyer for our company who will keep it local and help the growth of our employees as well. The sale process took less than 6 months.

While selling a business through an advisor can be relatively expensive, it’s well worth the investment when one considers what’s at stake. Rua’s preparation procedure assisted us in understanding and determining the company value by preparing various seller offer scenarios that could occur so we were prepared to consider different letters of intent.

We would recommend Pankaj and the Rua Team to any business owner who is ready to exit his/her business or to plan for a transition that might be a few years away.

Cal VanHemert and John Moser
Former Owners of Pro-Temp, Inc. HVACR

RAM Electronics acquired by Local Buyers

Friday, April 22, 2016
 In the world of deal making, closing a smaller deal can take some creative matchmaking. The time and energy required to get a deal to closing is just as much and sometimes more than in a larger deal. That was the case with Ram Electronics, and according to Randy Rua, “We had to pull in partners from multiple sources to get the deal done. A larger firm may have let this deal die a quiet death, but we knew we had the right buyers for the business and we just needed to put the right pieces in place. We don’t typically see the MEDC (Michigan Economic Development Center) involved in our transactions, but at the end of the day they were key in making the deal possible.” Michigan, and particularly West Michigan is very pro-transaction with excellent support from both professional advisors and government agencies.

This transaction offers a chance for an in-depth story about the current seller’s market for businesses. It also highlights how the right team of advisors using some non-standard sources can make possible even a potentially complicated deal.

Lynne Bosgraaf and Brad Davis had a goal of purchasing a business. They had both come from a successful business in a similar industry as Ram Electronics and knew the next step was owning their own business. They had some specific goals they were trying to meet, and were looking forward to owning a business that they could grow to the next level.

Brad and Lynne previously transformed a small contract manufacturer into a world class specialty lighting designer and manufacturer. They brought with them extensive experience in markets such as automotive and contract office furniture with a variety of disciplines including but not limited to strategic vision, operations, marketing, technical sales, program management and engineering.

Because of some unusual issues in financing the project, a key element in making the deal happen was bringing in a team experienced in finding financing solutions. Financing for the acquisition was provided by Mercantile Bank in conjunction with the Michigan Economic Development Corporation (MEDC). Mercantile was able to quickly offer solutions to keep the transaction moving forward towards closing.

With the help of the MEDC’s collateral support program, the Michigan Strategic Fund provided collateral that was able to be leveraged within the financing structure. The MEDC seeks out opportunities to provide assistance that will enhance economic activity and job growth in the state and Ram Electronics was a great fit for the program. Without the assistance of the MEDC, the structure would not have been possible for Lynne and Brad to close the deal.

Ram Electronics began over 45 years ago and offers both contract manufacturing of electronic assemblies and electronic design services. They consider themselves a “one stop source” and offer circuit board design, harnessing design, printed circuit board (PCB) layout, software integration design, prototype fabrication, environmental stress screening, automated assembly, and complete electronic manufacturing services (EMS). Ram prides itself in its quality, being ISO 9001:2008 certified, and customer service.

Ram Electronics currently has 16 employees and revenues between $3MM-$6MM. The company is located in Fruitport, MI, which is about 30 miles northwest of Grand Rapids and close to Muskegon.

Rua Associates, LLC proudly served as the exclusive mergers and acquisitions representative for the local buyers. The Rua team was able to keep the deal moving forward through challenging moments and Randy Rua was able to bring the transaction to the finish line after multiple months of negotiation.

At the end of the day, a Michigan based company was sold to a local buyer with the help of a Michigan based M&A firm and a Michigan bank backed up by MI state funding. It is a reflection of the current M&A market as a seller’s market. With the right team of advisers and financial organizations, deals continue to be successful, resulting in a positive impact to the buyer, seller, employees, customers and community. That is the definition of a successful transaction at Rua Associates.

How to Buy and Sell a Business-Mt. Pleasant

Thursday, April 07, 2016
 

The goal of this seminar is to inform business owners and others on the many aspects of purchasing or selling a business.

Speakers 

  • Eric Seifert, Growth Consultant/SBDC
  • Greg Light, Rehmann,
  • Alex Calder, Rua Associates
  • Jonathan Siebers, Rhoades McKee,
  • Peggy Murphy, Hungerford Nichols
  • Doug Holtrop, Mercantile Bank
  • Brad Wahr, Mercantile Bank

Topics Include:

Topics to include:

•Business Valuation

•Preparing to Sell

•Due Diligence

•Financing Your Purchase

Event Details

What: How to Buy and Sell a Business

Who: Business owners and others who desire to learn about acquiring or selling a business as well as other professional business advisors

When: Thursday, April 28, 2016 9:00 AM-1:00 PM.  Breakout sessions will target buy and sell side challenges. There will also be a panel discussion at the end.

Where: Mid Michigan Community College, Mt. Pleasant, MI 48858

Cost: $25.00 (box lunch will be provided)

To register: visit https://clients.sbdcmichigan.org/workshop.aspx?ekey=40360008  to register

  
Questions? email us: marketing@ruaassociates.com or phone us: (616) 741-9344


How to Buy or Sell a Business-Holland

Tuesday, April 05, 2016
 

 

The goal of this seminar is to inform business owners and others on the many aspects of purchasing or selling a business.

Speakers 

  • Randy Rua, Rua Associates,
  • Brandon Maat, Rua Associates, 
  • Carrie Osborn, DeBoer Baumann, 
  • Kevin Paul, Mercantile Bank, 
  • Craig Oosterhouse, Mercantile Bank, 
  • Haans Mulder, Attorney, Cunningham Dalman, 
  • Greg Light, Rehmann, 
  • Luba Kagan, BizBuySell


Topics Include:

Specific Topics will be addressed in breakout sessions and will include:

•Business Valuation

•Preparing to Sell

•Transition Planning

•Due Diligence

•Financing Your Purchase

Event Details

What: How to Buy or Sell a Business

Who: Business owners and others who desire to learn about acquiring or selling a business

When: Thursday, April 21, 2016 8:30 AM-12:00 PM (Registration begins at 8;00 AM); A final Panel Discussion will be held from 11:00AM-12:00PM with a question and answer session between panelists and attendees. There will be networking opportunities both before and after the event.

Where: Double Tree Conference Center, Holland, MI

Cost: $25.00

To register: Pre-registration is required for this event. Call (616) 331-7370 or visit https://clients.sbdcmichigan.org/workshop.aspx?ekey=74360004  to register

  
Questions? email us: marketing@ruaassociates.com or phone us: (616) 741-9344




Pro-Temp Inc. acquired by Local Buyer

Tuesday, March 08, 2016
 

Rua Associates LLC, West Michigan’s premier mergers and acquisitions firm, is pleased to announce the successful sale of Pro-Temp Inc., a West Michigan-based HVACR service company to Jeff and Karen Koger of Koger Enterprises, Inc. The Company will continue to operate under the Pro-Temp name.


Pro-Temp, Inc., based in Holland, Michigan, focuses on commercial refrigeration, heating and air conditioning. The Company also offers sales and service on new and used equipment. The Company was founded by Cal VanHemert and John Moser in 1985 and has been serving a large client base faithfully for 30 + years. Cal and John will support the new owner in ensuring a smooth transition.

The Company continues to differentiate itself by providing local personal service and knowledgeable, experienced technicians.

“We were pleased with the interest in our business from many parties. Ultimately, we chose Jeff based on his strong skill sets in management and developing people. Under Jeff’s leadership, we believe the company will grow and continue to provide the level of service our clients are used to. In addition, it was a very important factor that a new owner maintained our existing local presence and that fit within Jeff’s long term vision” said Cal VanHemert and John Moser.

“After 32 years in manufacturing management, my wife and I decided to research the possibility of business ownership. We were very fortunate to find such a great opportunity with acquiring Pro-Temp. The name Pro-Temp is well known in the HVACR community as being a top service provider in West Michigan thanks to the leadership of Cal and John. Their solid foundation has made this transition for us very rewarding. Purchasing such a well-positioned company was a perfect fit for our long term goals. We look forward to not only sustaining current business, but growing within our community” said Jeff and Karen Koger

To contact Pro-Temp, visit www.protemp-hvacr.com or call 616-392-3737

Rua Associates, LLC proudly served as the exclusive mergers and acquisitions representative for Pro-Temp Inc. Pankaj Rajadhyaksha served as the lead advisor for Pro-Temp, Inc.

Rua Associates is a distinguished mergers & acquisitions service provider headquartered in West Michigan. Our passion is discerning and exceeding client expectations through successful and timely business transactions. We offer a complete array of professional buy and sell-side business brokerage services, which includes corporate M&A outsourcing, to a growing network of clientele.

Busy Bea's Services of Grand Rapids acquired by Blu Perspective

Sunday, February 28, 2016
 
Rua Associates LLC, West Michigan’s premier mergers and acquisitions firm, is pleased to announce the successful sale of Busy Bea’s Services, a Grand Rapids-based commercial cleaning firm, to Blu Perspective, a Zeeland-based multi-faceted company.

Busy Bea’s Services is an award-winning commercial cleaning firm based in Grand Rapids, Michigan, that has built a wide client base extending across much of the state by focusing on quality communication and service along with environmental sensitivity and corporate social responsibility. The Company provides a full range of commercial janitorial services including floor care, carpet cleaning, window cleaning, upholstery cleaning and disinfection services. It serves medium and large facilities in the medical, professional/corporate, manufacturing, education and construction sectors. They have received several awards including EPIC Awards, Entrepreneurs of Distinction, Corporate Social Responsibility and Ambassador for Grand Rapids Chamber of Commerce.

   
   

Blu Perspective is a privately owned service company that supports manufacturing organizations with a focus on quality through its three divisions: Blu People, Blue Space and Blu Service. Blu People provides light industrial staffing, contract employees, direct placement and contract field quality representation. Blu Space gives manufacturing organizations a flexible manufacturing space option by utilizing strategic partnerships. Blu Service provides third party inspection, containment, rework and other quality support services. The leadership of Blu Perspective was ‘raised up’ in business within the Prince Corporation of Holland, Michigan, and launched their company in 2006. Blu is engaged with clients stretching from Michigan to Alabama. Blu differentiates itself through its flexible workforces and facilities for manufacturing quality assurance and a strong network of field quality support professionals to coordinate on behalf of their clients. 

Blu Perspective is excited to continue to build on the legacy of the previous owner of Busy Bea’s Services.

Rua Associates works on both the buy-side and the sell-side of mergers and acquisitions, and is anticipating continued growth as the economy improves. Rua Associates believes in an in-depth, personal approach to business & market preparation for the parties they represent in a transaction, and maintain that relationship until the transaction closes. They accomplish this by structuring the company as a fully-integrated team, which supports their clients from start to finish.

Our New Partnership With the Community Foundation

Thursday, February 18, 2016
 

Rua Associates has announced that it will partner with the Community Foundation to help further the Foundation’s “Today. Tomorrow. Forever.” campaign efforts to grow the Community’s Endowment for the Holland/Zeeland area.

Rua Associates, merger and acquisition strategists, is headquartered in Zeeland, but does business throughout the Midwest. Most of their 12 employees live in the Holland/Zeeland area, and they wanted to find a way to increase their local impact, recognizing that when a business owner sells, it has a ripple effect on the entire community - the employees, suppliers, vendors, and the seller’s and buyer’s families.

Depending on the situation, Rua Associates will match the business seller’s donation to the “Today.Tomorrow.Forever” campaign, dollar for dollar. Because the campaign currently has a 2:1 match that was established by lead donor gifts, the seller’s contribution will not only be matched once, but twice.

“The two matches will triple the impact of the seller’s donation,” said Randy Rua, president and founder of Rua Associates. “Partnering with the Community Foundation in this way gives the seller an opportunity to give back to the community and to leave a lasting legacy. By matching donations, Rua Associates is able to further those opportunities for an even more impactful legacy.” Rua will work with a few select businesses in the area that want to transition in the next year.

“The support of our local organizations and community members surrounding our efforts to grow our Community’s Endowment has been incredible,” said Mike Goorhouse, President/CEO of the Community Foundation. “Rua Associates is a phenomenal example of a business committing to the long-term future of our community, stepping up to give back and encouraging charitable giving in creative and innovative ways.”

Rua Associates is willing to work directly with the business owner, or with their trusted advisors to complete a successful transaction, and to make a meaningful difference that they believe will help the community long into the future.
Contact:
Alex Calder, Sales and Marketing Manager
alex@ruaassociates.com, (616) 741-9344 or
Optionally, you can contact cfhz.org, or call them at 616-396-6590.

West Michigan Auto Repair Shops bought by Michigan Buyer

Monday, February 15, 2016
 
Rua Associates LLC, West Michigan’s premier mergers and acquisitions firm, is pleased to announce the successful sale of Auto- Lab, a West Michigan-based auto repair and service company to 13 Marketing Group.

This business consists of two Auto-Lab automobile repair shops in the northeast and southwest reaches of metropolitan Grand Rapids, Michigan. The shops are part of the Auto-Lab franchise group. The Auto-Lab network began in Michigan and is focused in the Midwest, although this year several Auto-Lab shops are set to open in Texas.


The Grand Rapids-area shops were opened in 1996 by the current owners. One is at 279 Baldwin Street in Jenison in a high-traffic location at the corner of Baldwin and Main. The other is at 5333 Plainfield Avenue NE in Grand Rapids, near the East Beltline, another high traffic commercial corridor.

The shops have expanded from basic automotive services to include specialized automotive electronics, including the Smart Start ignition interlock system to combat intoxicated driving. The owners have put an emphasis on integrity, earning good ratings from AAA and the Better Business Bureau.

The Auto-Lab franchise system provides a professional approach to automotive technology. More complex cars call for competent diagnostic and repair services at affordable prices. The system emphasizes a commitment to the customer. Auto-Lab’s corporate staff provides franchisees with assistance in day-to-day operations, including categories such as purchasing of goods and equipment, marketing, financing, legal and accounting consultation.

The former owner, a military veteran with 47 years of car care experience, decided to sell in order to retire and have time to pursue other interests. The owner developed a team of managers and technicians who are well educated, experienced and certified by the State of Michigan and the Automotive Service Excellence (ASE) organization. He is looking forward to consulting opportunities within the industry to continue his passion for training and mentoring franchisees.

13 Marketing Group is excited to continue to build on the legacy of the previous owner of Auto- Lab. According to the buyer, “Having gone through other M&A transactions with different transition professionals assisting, in my experience Rua Associates stands head and shoulders above their peers, doing what is needed to effectively facilitate the deal."

Rua Associates works on both the buy-side and the sell-side of mergers and acquisitions, and is anticipating continued growth as the economy improves. Rua Associates believes in an in-depth, personal approach to business & market preparation for the parties they represent in a transaction, and maintain that relationship until the transaction closes. They accomplish this by structuring the company as a fully-integrated team, which supports their clients from start to finish.


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