Ed Cook, Broker at Chicagoland Sunbelt, In President’s Club-2010 as a Result of Handling Over $1

March 14, 2011 - PRLog -- CHICAGO, IL – March 14, 2011 – Chicagoland Sunbelt is pleased to announce that Ed Cook, Broker, has been named to the Sunbelt Business Broker “President’s Club” for having sold businesses with a transaction value totaling over $1 million. Cook is one of only fifty brokers in the Sunbelt Business Brokers organization to achieve this distinction. 2010 was an especially challenging year for Main Street and Middle Market business transactions. Buyers were plentiful, sellers were rare and banks were mostly absent (http://www.chicagolandsunbelt.com).

Cook’s biggest deal of the year was the sale of a property management firm. The deal was typical of the year’s trends. Many great buyers competed for this business. It was a rare and highly valued business in the marketplace. Property management firms usually have multiyear contracts which mean that revenue is very predictable. Steady, predictable revenue is highly sought after by business buyers. The business also operates with a minimal amount of assets. Owning a business and not having to tie up money in hard assets is also very desirable to business buyers. The business was structured so that the owner had to manage operations, market the business for growth, and insure that a stable team of property managers handled the day-to-day activities for the associations. The excellent infrastructure also attracted buyers.

“We had an excellent response and managing all the offers was a challenge,” stated Ed Cook. “When it comes time to sell your business, it helps to have a seller invested in the process. We had multiple offers in the first two weeks. It was a challenge to manage demand. If you have a property management business, it is a great market to sell.”
Structuring a million dollar plus deal is challenging.  For both the seller and the buyer the structure of the transaction has significant tax issues. Proceeds can be taxed at ordinary income or capital gains rates.  Minimizing taxes puts more money in the seller’s pocket. How a buyer assumes the assets and liabilities and the structure of that has consequences, too.

“ Helping our buyer and seller come together on the structure was a major undertaking of the deal,” added Domenic Rinaldi, Managing Partner of Chicagoland Sunbelt.  “When you sell a business, it is important to find a structure that benefits both parties.”

About Ed Cook

Ed has over twenty years of broad-based experience in every aspect of running a small business giving him the skills and knowledge needed to help buyers and sellers achieve their needs.

After graduating with honors from the University of Illinois, Urbana-Champaign, Ed began his career in the retail sector, managing a store for a Fortune 500 company. In addition to working with the general public, Ed worked directly with leading businesses giving him valuable business-to-business experience.

The majority of Ed’s career was spent at a national real estate title insurance company, gaining experience in every facet of running a privately held business including marketing, sales and operations. As Vice President responsible for national expansion, he opened 7 offices in 4 states, which doubled existing sales.

Learn more about Cook at http://www.chicagolandsunbelt.com/team-Cook.htm

About Domenic Rinaldi

Domenic Rinaldi is the President and Managing Partner of Sunbelt Chicago. He was awarded the professional designation of Certified Business Intermediary from the International Business Brokers Association and is considered an expert in the field of business brokerage. He is a seasoned executive who brings over 24 years of proven experience in merger/acquisition, sales, service, marketing and operations to the business brokerage arena.

Domenic’s career began at Sprint Corp, where he spent 13 years in sales and operations. As VP of their Hospitality Division he led a national organization to $250 million in annual revenue. His experience as Chief Operating Officer of an e-commerce travel company offered the opportunity to grow a Silicon Valley startup into an international solutions provider. Additionally, Domenic’s small business experience running a New York City technology company gave him firsthand knowledge of the challenges facing business owners. It was at this privately held company he learned the business of raising venture capital and driving a small company to profitability, which ultimately resulted in an acquisition.

The business press frequently turns to Rinaldi as a subject matter expert in small and lower middle market transactions in Chicago. Most recently he was quoted in Crain’s Chicago Business:  http://www.chicagobusiness.com/article/20110212/ISSUE02/3...

Learn more about Domenic Rinaldi at http://www.chicagolandsunbelt.com/team-Rinaldi.htm

About Chicagoland Sunbelt

Chicagoland Sunbelt is a business brokerage firm that focuses on helping people buy, grow and sell businesses in Chicagoland and the surrounding Midwest. Having sold hundreds of businesses, Chicagoland Sunbelt specializes in a broad range of industries, including business services, distribution, food & beverage, franchises, personal services and retail. Its experienced team of M&A brokerage consultants also develop and execute comprehensive strategies designed to meet individual financial and non-financial goals.
Chicagoland Sunbelt is also a proud member of Sunbelt Midwest, which operates offices in Minnesota, Wisconsin & Illinois. For your next business purchase or sale, visit Chicagoland Sunbelt at http://www.chicagolandsunbelt.com.

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Chicagoland Sunbelt is an innovative, professional transaction firm that specializes in sale, transfer or merger of businesses.