News & Insights

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

Testimonial from Westshore Design

Monday, January 18, 2016
 Rua Associates approached me a few years ago because they had a buyer interested in purchasing Westshore Design. The thought of selling Westshore intrigued me as I owned another business, Cusack Music, which was taking up more of my time and limiting my ability to give Westshore the attention it needed. As I explored selling Westshore with Rua Associates, it became quickly apparent that the two businesses were too closely connected for me to be able to sell Westshore and keep Cusack. Rua Associates recommended that I work on separating the businesses, so I spent the next few years completely separating the two businesses.

Once the businesses were separate, I began working with Rua Associates to officially prepare Westshore Design for sale. We went through a thorough prep process up front to ensure I was ready to sell, value the business and develop a market of prospects. After getting this information, I decided I was ready to go to market and work with Rua Associates. Once the business was on the market, I worked closely with Rua Associates as they extensively qualified potential buyers. Their process was unique because it enabled me to pre-screen buyers before they got information, and they did an excellent job of screening out potential buyers that were not a fit.

Rua Associates was able to identify a mix of highly qualified individual financial buyers, strategic buyers and even a local family office. They were able to get me a handful of offers, so I was able to pick the buyer who I felt would be the best fit and ensure the business continued to be successful. The eventual buyer, GVD Industries, was extremely professional and thorough in the process and we were able to close the business in just 4 months from going on the market!

I am incredibly happy with the work provided by Rua Associates. Their prep process was well worth the investment and enabled me to ensure that selling my business made sense. Once on the market, the Rua team did an excellent job building a market and not only helped me get a great value for my business but also found me the best fit. I would highly recommend working with Rua Associates if you are considering selling your business.

John Cusack, Owner Westshore Design

Testimonial from Busy Bea

Friday, January 01, 2016

Testimonial from Boat City Marine

Tuesday, August 11, 2015

Boat City Marine had been a family business for us since 1982. We decided it was time to transition the business to new owners and started the process in 2012. While the economy was still recovering, it was challenging to find buyers interested in acquiring a boat dealership.

The Rua Associates team continued to work diligently and patiently to find a buyer. Eventually, in 2014, we found the right buyer for the business. Although negotiations and discussions were challenging, the Rua team kept working on the transaction to bring it to a close in early 2015.

Pankaj Rajadhyaksha and the rest of the Rua team worked aggressively to ensure that the new buyer had the appropriate financing lined up to consummate the transaction. Their expertise in working with the Small Business Association (SBA) lending providers was an asset as well.

Rua Associates also helped ensure that communications between the buyer and the boat manufacturers remained on-track throughout the process.

While selling a family business is never easy and can be emotional, we feel that the business has transitioned into good hands with the new owners. We continue to be excited about the future of Boat City Marine.

Overall, we are satisfied with the outcome and would recommend Rua Associates to any business owner who may be contemplating the sale of their business.

More information about Boat City Marine can be found at

Kris Nelson, Former owner, Boat City Marine

Testimonial from Mike Miedema, President of Lakewood Process Machinery

Wednesday, April 15, 2015

Our initial intent with Rua Associates was to explore our future succession plans, but we were approached by a competitor expressing interest in our business at the very start of our conversation. Randy Rua and Don van der Zwaag led that process, helping us to explore various options and negotiations. The result was a partial sale – that of our product line and intangible assets- with us keeping the manufacturing part of the business. It was a unique end result that provides a new opportunity for the future of our business. Without Randy’s and Don’s guidance, it seems unlikely we could have arrived at a mutually beneficial outcome for both parties.

Mike Miedema – President
Lakewood Process Machinery

Testimonial from Former President of Cascade Fresh Cleaning

Thursday, February 19, 2015

It was Rua Associates' thorough process for preparing my business for the market that differentiated them. Other Merger & Acquisition consultants and brokers were also professional and experienced, but this is the primary reason I selected Rua Associates to sell my business.

It was important for me to find multiple potential buyers who would fit culturally and philosophically with our mission. Rua Associates understood my priorities as a seller and helped me vet candidates, saving me time and aggravation.

The Rua team drove the process based on my priorities and time line and we closed on schedule. They were proactive, knowledgeable, insightful and creative. If I had to do it over again I would select Rua Associates without reservation. I highly recommend Rua Associates.

Testimonial from the Seller of a Full Service Benefit Administrator

Wednesday, February 18, 2015

I am thankful that Rua Associates assisted in my transition process. I originally hired Rua Associates to advise me on an internal sale that I had been preparing for many years. We had hired a consultant who did a great job helping us set up systems and developing a management team that could take over the business. My plan was to sell the business to my management team so that everyone who had been loyal to the company could be secure in keeping their jobs. When it came time to implement this plan, the changes in the economy, the business, and the management team’s lives made the internal sale option no longer feasible. Rua Associates confirmed this when they did their valuation analysis, market testing, and bank feasibility analysis and shared the results with the internal buyers.

Once it was decided to go to the market to find a third party buyer, Rua Associates started the process of identifying and screening potential buyers in a confidential manner. They had to screen out a lot of buyers without revealing our company identity because I had very strict criteria for who I would allow to buy the business. I did not want to sell to anyone who would try to merge operations and eliminate my management team and employees. This made their job much more difficult, but they understood what was important to me and delivered several good proposals from qualified buyers. Eventually we reached an agreement with a buyer we already had a relationship with and that we knew would keep our management team and employees.

Rua Associates played a key role in negotiating the transaction because they knew the market well from talking to hundreds of potential buyers and receiving multiple purchase proposals. They also understood our financials and where able to show the value of our company and address any buyer concerns with detailed information backing up the value.

My experience with exiting my business has made me realize that it is harder to get out of business than it is to get into business. Therefore, I would highly recommend you work with a firm like Rua Associates to help you through the process.

[This Seller’s contact information is available upon request].

Testimonial from Machine Shop Services

Thursday, December 11, 2014
I wanted to write a brief note, thanking the Rua Team for advising us in the sale of our machining business. Starting this business from scratch and consistently growing the business has represented many challenges. Over the past decade we had put many long hours into the company, but did not know what the business was worth. In May, we became aware of Rua Associates and their expertise in selling businesses. Our interest was responded to with professionalism and clarity; with-in a short period of time we were able to establish a value for the company and understand how both buyers and banks would look at our business. We decided to move forward right away and begin the process of finding the right buyer.

Having Rua represent us gave a significant advantage over what we could have done ourselves. As a small shop, confidentiality was very important to us; they handled this well, screening through the "tire kickers" to buyers that could actually match our interests. Rua's ability to effectively and clearly communicate our interests to potential buyers was very important in securing the right deal. Several issues came up during the closing process, but Rua quickly responded and was able to assist us; providing alternatives and creative solutions.

Overall we are very satisfied with the work Rua Associates did for us and would highly recommend them to others who are looking to sell their business. We plan to work for some time with the new buyer and continue to assist with the transition. This transaction was not always easy or "smooth sailing", but we were able to solve the challenges and meet our goals! Very thankful for all our advisors and Rua Associates.

-Pat & Ken


Testimonial from Scott Ribbe, President of Geerpres, Inc

Saturday, March 15, 2014
I want to express my appreciation to Don van der Zwaag and the entire team at Rua Associates for helping make this acquisition a reality. Don was able to identify an ideal opportunity based on my specifications, and within an immediate time period. As one of a few parties reviewing the opportunity, I believe Rua provided an advantage over other potential buyers with experience and a proven record of successful transactions. The Rua team demonstrated an ability to effectively communicate with both parties, facilitate negotiations, and help align an offer meeting our expectations. Rua had a proactive approach working through the intricacies of the transaction and helped develop solutions. Overall, I was  very pleased with Rua Associates and highly recommend them. 

- Scott Ribbe, President of Geerpres, Inc.

Testimonial from Richard Achtenberg, President of TG Manufacturing

Wednesday, February 12, 2014

It was a pleasure being able to complete my third transaction with the help of Rua Associates. The Craft Steel transaction turned out to be a perfect situation to bring in Rua. Rua took care of much of the analysis work and negotiations while I was then able to focus my time on more productive activities within my business. Overall I was extremely satisfied having Rua represent me again on another transaction.

- Richard Achtenberg, President of TG Manufacturing

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