Pictured left to right: Marcia Bowron (CBB Broker), Richard Swann & Lonnie Boulware (Sellers), Peggy Tate (CBB Broker), Larry & Kathy Rose (Buyers)

This company was established in 1995 and offers nationwide classes geared towards maintenance, mechanical and engineering personnel in the energy, manufacturing, mining and government sectors. Rick, the founder, established the company on his own in 1995 after working for another company in the industry. After building his clientele, he needed a partner and brought Lonnie on a couple of years later. They've worked really well together each handling different aspects of the business. Lonnie worked the corporate office in Amarillo and Rick lived in New Braunfels.

After 20 years, they were both ready for retirement. This past year, once they decided to sell, they transferred a lot of the job responsibilities to the employees to remove themselves as much as possible from the business. Also, clients did not know the owners by name....they knew the trainers and sales people and the company brand....further reducing the concern for a buyer that the business would go away when the sellers went away. The company has well-honed processes and a fully-trained staff running those processes, which is a major value driver for any business because it reduces risk for the new owners. The company also maintained impeccable records.

The buyers had been looking for a business with us since April this year and this was the fourth opportunity they reviewed. Amegy Bank provided SBA financing for this acquisition. The business was sold within six months of going to market.

Marcia Bowron listed the business and Peggy Tate sold it.