Savin Products
Industry
Location
Business Broker
Situation
The current owner worked for this longstanding manufacturer of janitorial products for many years, before acquiring the business and running it himself. When the time came for him to retire and move to Florida, he contacted an M&A advisor who referred him to Sarah Grossman, Principal of BayState Business Brokers, so he would have local expertise to broker the sale of the business including the associated real estate.
BayState Business Brokers’ Approach
Having recently sold a similar business in the chemical industry, Sarah Grossman readily put together her strategy to attract qualified buyers for this manufacturing business. She had a solid base of prospective buyers to reach out to, including individuals and strategic buyers. Her marketing efforts generated a lot of interest with multiple offers received. The ultimate buyer emerged early in the process as he owned a similar business in Canada and was seeking to establish a presence in the United States. Meetings between the seller and this prospective buyer confirmed a good fit as the seller preferred someone with relevant industry experience to take over.
Results
The relationship between the seller and buyer enabled a smooth process from start to finish including due diligence and environmental surveys. Given the seller had acquired the business only a few years prior, he had all the documentation readily available for complete and efficient information sharing.
The one hurdle, which was a big one, was securing financing. Typically, given the size of the loan, financing through an SBA loan would be common. However the SBA guidelines were changed in 2025 making SBA loans only available to buyers who are US citizens, and the buyer was Canadian. Even with a US partner, he didn’t qualify because 100% of the owners must be citizens. Additionally, most commercial lenders typically will not finance a deal of this size with a general commercial loan even to a strategic buyer like this one. Sarah Grosman leveraged her network to secure a lender she knew from her networking group who would finance the deal as a general commercial loan with the building as collateral.
Sarah also leveraged her network to introduce the buyer to a real estate attorney and business attorney to be part of the coordinated team to smoothly and successfully complete the sale. The seller worked closely with the buyer throughout the process, including meetings with prospective customers before the deal was completed.
The buyer was thrilled to achieve his strategic goal of establishing a US presence and the seller was able to look ahead to retirement with confidence that the business was in good hands.
What Our Clients Say
Jeff, Seller
