Situation: In 1991 Carol and Jim Townsend acquired a small employment agency and entered the world of entrepreneurs. Quickly, they moved into providing temporary employees and eventually built their business into a regional powerhouse. Their company, Sunrise Enterprises, based in Dubuque, Iowa had 13 offices in a three-state area and billed over 2 million hours of work per year.
Solution: Based on a referral from their CPA, Carol and Jim retained CFA to sell their business to a buyer who would continue to develop Sunrise. Ultimately, CFA found a complementary, strategic buyer who would not only acquire the business, but would, in turn, sell part of the company to Sunrise’s key executive. The sellers got the value they wanted for the business and achieved their retirement goal.