Aspen, CO (PRWEB) August 25, 2016
El JeBowl Sold, Remodel Aims to Attract New Generation of Customers
The new owners of El JeBowl are sparing nothing in their quest to score a strike with young adults in the mid valley.
Craig Spivey and Tom Weber, partners in Bowlounge in Dallas, purchased the bowling business in El Jebel on Aug. 15. They bought the bowling alley from the Stecklein family, which started it in 1992. The building is owned and leased by the Crawford family, longtime owners of El Jebel property.
El JeBowl is closed for renovations but will reopen to the public in mid-September as Bowlounge, according to Spivey. It will open for league play later in the month.
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Former owners of El JeBowl
Aspen, CO (PRWEB) July 7, 2016
Myers & Co, One of Oldest Construction Firms in Valley, Sells
A company that’s been a constant factor in the ever-changing construction industry of the Roaring Fork Valley over the past four decades is going through a changing of the guard.
Myers & Co. Architectural Metals announced Wednesday it was sold June 30. Buyer Mark Blodgett is the new principal. The selling partners will remain in consulting roles with the company, some at a higher degree than others, according to the company’s statement. The original partners are founder Bob Myers, Mary Delany, Stuart Edgerly and Gib Plimpton.
Terms of the sale of the private company weren’t released. Myers said it was “a good deal for both parties.” He and his partners have a financial incentive to see the company continue to succeed, he said.
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Former owners of Myers & Co.
Aspen, CO (PRWEB) April 29, 2016
VR Business Brokers Completes sale of Carbondale Beer Works
VR Business Brokers’ Aspen office has closed on the sale of the popular neighborhood brewpub, Carbondale Beer Works, in Carbondale Colorado. “We are pleased to have found the perfect team to take over the business. They are from Seattle, and they have both extensive experience with brewing as well as with running a restaurant. We expect that the many locals who enjoy Carbondale Beer Works will be happy with the continuity offered by the new owner-managers, as well as with the expansion of their microbrews and menu offerings,” said John Hornblower, CFA, the owner of VR Business Brokers’ Aspen office.
Hornblower adds “in the process of finding the right buyers for this popular and profitable business, we have compiled a list of at least 20 people who are actively looking to buy a brewpub or tap room in Colorado.
Aspen, CO (PRWEB) March 24, 2016
VR Business Brokers Goes to Contract on Profitable Brew Pub in Just 45 Days
VR Business Brokers’ Aspen office has put a profitable neighborhood brew pub under contract for sale in just 45 days. “We signed our engagement agreement with the owner of the brew pub just six weeks ago and in this time we found the right buyer who made us a full-price offer just last week. We went to contract in just a few days and are scheduled for an April 4th closing,” said John Hornblower, CFA, the owner of the VR Aspen office.
“What’s better, is that we have found over 10 buyers of brew pubs in Colorado, which puts us in the position to contact other brew pub owners and see if they might be interested in having a confidential consultation about selling their business. If you may have an interest in buying or selling a business in Colorado, please don’t hesitate to contact us,” John added.
Aspen, CO (PRWEB) February 5, 2014
VR Business Brokers Opens New Aspen, Colorado Office
VR Business, the leading advisory firm for the purchase and sale of privately held businesses in the world, announced today the opening of a new office in Aspen, Colorado.
“A new Aspen Colorado Office lets us capitalize on the affluent business demographic that either live or vacation in the area and is looking to add to their portfolio,” stated Peter C. King, VR Business Brokers CEO.
"We recognize the potential that the Aspen market presents and we anticipate tremendous growth for VR in the region," added VR President, JoAnn Lombardi.
John Hornblower, President, of VR Business Brokers in Aspen brings a lifetime of banking, investment and financial background to VR; adding real value to the new VR office. John grew up in Greenwich, Connecticut in a family with a long history in investment banking. His great-grandfather founded Hornblower & Weeks in 1888, a firm which grew to be the 7th largest investment bank in the world. John was the 11th member of his family to attend Harvard, where he studied economics and graduated, Cum Laude, in 1984. John started his finance career on Wall Street at Salomon Brothers as an equity derivatives specialist. He then moved on to Citicorp, where he headed the equity derivatives marketing department, and then to Cantor Fitzgerald, where he traded convertible bonds with institutional investors. Four years ago he founded his own firm, Hornblower Trading LLC, which allowed him to trade convertible bonds with institutional investors independently, and which also allowed him the flexibility to move to Aspen, Colorado.
About VR Business Brokers
Founded in 1979, VR is the innovative leader in privately held business valuations, sales, mergers, and acquisitions. Celebrating over 35 years as the world’s only network of full time professional business intermediaries, VR comprehensively addresses the needs of privately held businesses. With offices around the world, VR is currently entering a growth cycle with the goal of expanding its domestic and foreign footprint. VR Global Headquarters is located at 2601 East Oakland Park Blvd. Suite 300, Fort Lauderdale, FL 33306. For more information, please call 800-377-8722 or visit www.vrbb.com. For information on opening your own VR Business Broker Office, visit www.vrfranchiseopportunity.com.
Working Capital: Why Does it Matter?
By: Adam Friend, BCMS Corporate, LLC
You are selling your business, and all of your ducks are in a row. You hired an investment bank, they wrote an investment memorandum, solicited bids, and found a buyer willing to pay you a hefty sum for all of the blood, sweat and teas you invested in the business over the last umpteen years. You passed all of the tests during due diligence, and are negotiating the finer points of the purchase agreement. The finish line is in sight. And now you learn about the working capital peg.
The working capital target (also known as a "peg" or "true-up") is an important part of an acquisition where millions of dollars are at stake, is poorly understand by many, and is typically left until later stages of the deal. Very often, sellers leave significant amounts of money on the table ( to the benefit of the buyer) as a result of not understanding and addressing the working capital issue earlier in the acquisition process. In fact, sellers would be best suited to understand the impact of working capital well before they begin the process of selling their company. Below I explain the ins and outs of how working capital can have a big impact on how much cash you take home after you sell your business.
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