Sunbelt Concludes Sale Of Home Technology Store A Minnesota Based Provider Of Customized Home Technology Solutions
Sunbelt Business Brokers and M&A Group (www.sunbeltmandagroup.com) one of the largest business brokerage firms in the country recently brokered the sale of Home Technology Store (HTS), a Lewiston, MN based business.
- (1888PressRelease) December 30, 2010 - Minneapolis - HTS was purchased by Ken Schneider and Alan O'Regan, principals of Perm-A -Store, a manufacturer and distributor of media transport and storage products. Alan and Ken have extensive experience in e-commerce and saw a strategic fit in the HTS business model and their product offerings.
HTS, founded in 2001, started as a custom installation and design center. It has since grown to one of the most respected custom integrators of technology solutions for home. Home Technology Store specializes in the design and installation of professional home theater, lighting, multi-room audio, home automation, and security systems. In 2009, the company became the only online "full service integrator" by offering Nation Wide installation of- Home Theater, Home Audio, Home Intercom Systems, Home Security and Home Automation products. HTS products are available through their online store at
www.home-technology-store.com
Corey and Allen Kelly, the owners of HTS, had successfully run the company for nine years and were looking to transition away from having the ownership role at HTS but at the same time wanted to be part of the company. They were looking for a buyer that could help them in this transition and also grow their business to another level.
According to Rich Kelm, Sunbelt's lead broker on the transaction, "During our confidential marketing process we talked to dozens of potential buyers. We had multiple offers, but eventually found the right fit in Perm-A -Store. They recognized the foundation that Corey and Allen Kelly had built and knew that they had some really exciting ideas on how to make the company prosper even more, and the buyer was excited to help implement and direct those changes."
Sunbelt's President, Scott Evert, added that activity from business buyers in general is high. "In this case Sunbelt generated 48 seriously interested buyers which we narrowed down to a handful that made offers. This included both strategic buyers like Perm-A-Store and also high net worth investors looking for a company to acquire and grow. Because we've built such a large database of business buyers over the years, and because we have such a large team of brokers, when we bring a good business like this to market we create a lot of demand."
About Sunbelt
Sunbelt helps people buy and sell companies. As a leading business sales firm Sunbelt has extensive experience in mergers and acquisition and exit planning. Sunbelt of Minnesota has offices in Minneapolis and St. Paul and is affiliated with Sunbelt Midwest, with offices in Chicago and Milwaukee. Sunbelt was founded in 1978 and has approximately 300 offices worldwide.
Information on selling a larger business: www.sunbeltmandagroup.com
Information on selling a smaller business: www.sunbeltmidwest.com
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