The sellers of this nearly century-old family furniture business were ready to retire, slow down, and spend time with their grandchildren. Although the buyers were not in the furniture industry, they were drawn to this community business with an excellent reputation in Western Arkansas. CBI Team Fort Smith-River Valley was privileged to help navigate the complexities of both the selling and acquisition aspects of this deal.
The furniture store offered an annual revenue of over $2.5 million, over half a million dollars in earnings, and valuable real estate to accompany the sale. With help from CBI Team Fort Smith-River Valley, the buyers were able to acquire an SBA-backed loan through Regions Bank under the direction of Itzel Meador and Jake Sibley.
When asked about the buying process and all that it entails, the buyers praised managing partner Mark Kincannon stating, "All was great with Mark and the whole experience."
CBI Team Fort Smith-River Valley is happy to assist both the seller and buyer in accomplishing their goals.