We are pleased to announce the successful sale of a specialty retailer located in North Michigan. This unique business, well-regarded in the region, had been in operation for over two decades and drew significant buyer interest due to its reputation and market position.
The journey to closing this sale required patience and persistence. Originally going to market in September 2022, the two owners initially held firm on a higher-than-market valuation, which included inventory as an additional cost. Throughout 2023, David Michaelson, their IAG advisor, presented several offers that didn’t meet their expectations, prompting extensive discussions on the realities of market pricing and the buyer landscape.
David spent considerable time supporting the owners, answering questions, and helping them navigate prospective buyer inquiries. Finally, after two years on the market, a previous buyer re-engaged with a slightly improved offer. This time, with mutual understanding of the business’s value and diligent back-and-forth with both sides, a successful transaction was completed.
This sale is a testament to the commitment of our team to see deals through, even in complex scenarios. Congratulations to David Michaelson and everyone involved in this achievement!
