International Business Exchange (IBEX) in Austin, Texas (www.ibexbeyond.com) announces the sale of a Texas commercial plumbing company. The Texas based business is a second generation enterprise located in southeast Texas with annual sales exceeding $6 million. The business is a subcontractor to large general contractors. The company was established in 1954 and acquired by the son and current owner in 1990. The company operates with approximately 20 full-time employees.
The business was first listed with IBEX in May 2016. In September 2017, the business had received multiple offers. The closing was originally planned for December 2017. However, because of the 2017 tax legislation the parties agreed to wait until 2018 to provide the seller some tax relief. The business was financed by a third party lender.
The Texas buyer was searching for a profitable business with an owner who was ready for an exit strategy. The buyer’s goal will be to provide management expertise, working capital, marketing and sales assistance and other business tools to the existing organization and use the current foundation to grow the company even further. The seller will continue to work with the buyer in a long-term transition period while planning for retirement.
International Business Exchange is one of the nation's most respected full service business acquisition consulting firms. Opening its doors in 1979, IBEX has listed and sold businesses with annual sales of up to $65 million. IBEX associates are experienced and have relationships with lending institutions, accountants, attorneys and other business acquisition professionals. IBEX participation helps avoid costly mistakes and reduces transaction costs. Those successful outcomes are created by IBEX associates listening, understanding and communicating the seller’s goals. IBEX’s dedicated advisers responsibility is to see the transaction from listing through close, helping sellers walk away with the maximum value for their life’s work.
IBEX promotes businesses for sale with complete confidentiality. We work with sellers to create a professional presentation package which includes financials, a business overview and a video introduction. IBEX places advertising on the business acquisition opportunities in nationwide merger and acquisition outlets including industry leading websites, local and national newspapers and strategic trade publications. IBEX then screens buyer inquiries in developing an optimal buyer situation for that specific business opportunity. IBEX is a member of the International Business Brokers Association, Merger and Acquisition Source and the Texas Association of Business Brokers.
Mike Miller (email@example.com) and Jeff Elder (firstname.lastname@example.org) helped close this transaction and will be glad to discuss IBEX's business brokerage processes and services.