It is amazing to look back at everything that has happened
in the past few years and all the work it took to purchase a business! Buying a
business is a roller coaster ride of ups and down. I am proud to say that Rua
Associates was along for the ride with me. Even though they were representing
the seller they still helped me out as the buyer making it a win-win situation.
They were instrumental in developing a purchase structure that made sense for
both the seller and me. They also gave me great support when I was working
through the banking and due diligence. I thank Rua Associates for all their
hard work and highly recommend them to anyone looking to buy or sell a
Krieg Lee, President of Forrest Company
To Whom It May Concern,
When I left my previous job as VP of Global Product
Development at Johnson Controls in July 2012, I had several options of getting
a new job, starting a business or buying an existing business. My preference
was to buy an existing business so I started searching for someone who could
help me accomplish this. I found Rua Associates and engaged them to do an
active acquisition search for me. I also analyzed some of their sell-side
listings including Broadview Product Development. While other opportunities
interested me, Broadview interested me the most due to how it fit my
background, how I connected with the owner and the convenient location. Once I
decided Broadview was the business I wanted, I began the unfamiliar process of
buying a business. Throughout the process of buying a business, Rua Associates
was a great help assisting not only their client but me as well. I am happy to
say that after only 4 months I was able to successfully purchase my own
business. Based upon my experience, I would highly recommend Rua Associates to
anyone who is looking to buy or sell a business.
Rick Arnold, President of Broadview Product Development
To Whom It May
over 20 years, I was employed at Action Management Corporation. During my
tenure, my job title changed various times and I continued to increase my
responsibilities. In 2008, I was named the President, which allowed the current
owner to begin scaling back.
was hired as the exclusive representative to pursue a sale of the business for
the owner. Randy Rua and Kent Snyder approached me to gauge my interest in
possibly buying the business. I was very interested although I knew,
financially, the transaction was going to be a challenge. Rua Associates utilized
their knowledge of the SBA lending rules to design a transaction structure that
provided the financing needed and was agreeable to both the former owner and I. They connected me with a specialist in using
retirement funds to purchase a business, which provided the capital I needed
for the down payment.
the purchase, Rua Associates took a hands-on approach and carefully guided me
through the banking process. It was a difficult and complicated process, but we
were successful in allowing me to use a Self-Directed IRA to complete the
purchase and the final structure mirrored the exact structure that was
presented to both me and the Seller so many months previously.
recommend Rua Associates for any business transition. They have a well-versed
team with a high-level of technical expertise. They continually pushed the
project forward through every major and minor roadblock to ensure a successful outcome.
To Whom It May Concern,
When I stepped away from Hudsonville Ice Cream, I wasn't sure where I would be next. Through some mutual relationships, I met Randy Rua and he presented the opportunity at The Worden Company to me and some partners. Rua Associates played a critical role in helping us secure the purchase of The Worden Company. Krista Heynen and Brandon Maat expertly helped us complete all of the analysis to help us make a solid evaluation. The Rua team worked diligently with many banks to help us secure the right financing for our acquisition. I highly recommend Rua Associates whether you are looking to purchase a business or sell your business. Their service and expertise is outstanding.
The Worden Company
To Whom It May Concern:
I want to begin by strongly recommending Max Friar and Rua Associates, LLC to any business owner that is
considering selling their company.
I am the former owner of a small manufacturing company in Michigan I. I founded the company 10 years ago and it reached the point to where it needed the right individual to take the company to the next level. I knew I was not that individual and had other life goals, so I contacted Rua Associates.
I was introduced to Rua Associates, LLC and Max Friar in May 2012 by a close friend. Over the course of the subsequent months, Max guided me through the rigorous process of meeting qualifying buyers, negotiating offers and navigating the due diligence process. I am extremely pleased to say that I successfully sold my company with Max’s help in less than five months! This completely exceeded my expectations and I could not have done this alone.
At all times during the process I found Max Friar to be honest, dependable, hard-working, genuine, professional and thoughtful. Max took the time to get to know me, my business and my goals. What struck me the most about Max was his determinedness, communication skills and ability to handle stressful situations with ease. He was also always available- usually immediately, to attend to my questions and concerns. Something I view as paramount-feeling like I was a priority. Max prioritized me and my company and that speaks volumes into his integrity.
Selling my business was one of the hardest, most emotional things that I have ever done. I needed a strong ally, someone that I knew was fighting on my side and helping me to make the right decisions.
In closing, I highly recommend Max Friar and the Rua Associates team. They have the right team, skills, philosophy and people skills to get the skills to get the job done.
Former Business Owner of Small Manufacturer in Michigan
I just wanted to let you know my thoughts as I celebrate our success today.
I know everyone has been giving "high fives" for closing the deal, but you really deserve something beyond that. This purchase is honestly a dream of mine come true. I had sought this dream for nearly ten years on my own, not knowing what it would take to acquire a company. Max, you and I started this acquisition search for a water treatment company two years ago. You were really the driving force. You are a true professional. I am so proud of our team and feel privileged to have worked together to make this acquisition. I consider you a friend.
My Sincerest Appreciation,
Mark R. Juhl
Dear Rua Associates:
On behalf of myself and my partner, we
would like to thank you for your honesty, professionalism, and expertise in
assisting us in selling our 60+ year old business, Van Pelt Industries.
What we appreciated most was the time
you took before engaging us to help us understand how buyers would value our
company and how the sale process works. During that time, we became comfortable
with you and your methodology which really helped us make the final, difficult
decision to sell a business that we have been part of for over 40 years.
We are happy to report that the entire
sales process took less than six months. Max and Kent did an outstanding job of
locating a motivated and qualified buyer and getting the deal done.
Thank you, Rua Asssociates! We highly
recommend your services to any manufacturing business owner thinking of selling
Co-Owner, Van Pelt Industries
"Selling a well established business is more difficult than running a well established business, so unless you have an inordinate amount of time, patience and a PhD in mergers and acquisitions, don’t try it on your own. The business I was attempting to sell had been in existence for 53 years, had only two owners and for most of those years was very profitable. With all of those positive factors, I thought the sale process would be easy from start to finish and buyers would be lined up at the door. A rapidly declining economy and an industry in transition presented multiple issues for me in trying to sell my business and property. For twelve months I attempted to work through the issues and finally decided, at the suggestion of a business associate, to look for professional assistance.
From the initial interview I was convinced that I could work with Rua Associates. Randy explained the process, explained the fee structure and the engagement letter was immediately signed to get the process started. I was assured, and felt confident, that my business' identity would be disguised to the general public, without sacrificing exposure to the broadest market possible.
Randy and his team met regularly, almost weekly, with the prospective buyer and never let the dust settle on any issue which kept the process fluid. He communicated with me daily or weekly and never hesitated to work with me in the evenings if necessary. I always knew exactly how the sale was progressing and we discussed any issues that were pertinent for that day. There were many times that the negotiations became very hectic and things seemed to be getting off track but Randy was always calm, kept a positive attitude and was able to get things back on course. Rua Associates worked closely with all of the attorneys involved which was also a great help to me. The entire transaction was completed in approximately nineteen months; twelve months were on my own and seven months once Rua Associates was hired. At first I thought Randy’s commission was high but now that the transaction is complete and as I consider the time and energy his team invested they were worth every penny.
I would highly recommend Rua Associates to anyone thinking of selling or buying a business. It was a pleasure to work with Randy and his team."
Former Owner of the University Book Store
“I recently worked with Rua Associates on an acquisition of a company and want to take this opportunity to recommend this firm. They did an outstanding job! I contacted Randy Rua with my intention to purchase a company and respected his effort to understand my background and skill set before showing me a single company.
Once we were both on the same page with a narrow focus, Randy did an outstanding job of laying out the process and setting expectations right from the beginning. Setting expectations up-front proved to be very beneficial as the deal progressed. From my perspective, a successful mergers & acquisitions advisor understands the psychological/emotional aspects that are involved in such deals, and not just the financial/legal issues.
I found the seasoned M&A professionals at Rua Associates to be extremely valuable at keeping all parties on track and moving forward. Additionally, Randy has an extensive network of banking and legal resources. When the deal ran into challenges with a particular lender, several of Randy’s contacts were quick to step in. Finally, I found Rua Associates to be responsive to my requests for information or addressing any concerns I might have. I certainly recommend Rua Associates for a sale or acquisition of a business!”
Tim Apotheker, Owner
Superior Cutting Service, Inc.
4740 136th Avenue
Holland Charter Township, MI 49424-8413
Tiger Industrial Systems
To Whomever It May Concern:
I have had the pleasure of working with Randy Rua on two significant manufacturing
acquisitions over the past three years. Each deal had its own complexities and challenges
that we worked through together.
In both cases, Randy made a significant difference in getting each party to the closing
in a mutually agreeable manner between buyer and seller. Each transaction came with
a myriad of issues that at times seemed insurmountable. It was because of Randy’s
experience, professionalism, creativity and knowledge that we were able to keep the
transaction moving forward. His sense of optimism and strong work ethic are to be
In one transaction, I have no doubt that closing in the desired timeframe would not have
happened if it was not for Randy’s perseverance and dedication. I cannot emphasize
enough the impact of Randy’s understanding and knowledge in the areas of legal,
financial and operational performance and how his experience helped resolve countless
If you are considering buying or selling a business, I recommend working with Randy to
be sure that your transaction will be handled in the most professional manner.
President - Tiger Industrial Systems