Confidential Business Intermediaries (CBI) of Springdale has opened an office in Tulsa.
Owner Carl Grimes said Roy Still is the managing partner for the office, which opened March 1 on the 15th floor of Remington Tower. CBI confidentially buys and sells companies, and works with businesses on “Main Street and in lower and middle markets.”
The company employs two full-time staff at its Springdale office, and the other staff are on contract, or intermediaries. The Tulsa office operates in a market that could handle six or more intermediaries, Grimes said. Still, who joined CBI in early 2013 as an intermediary, is considering several prospective intermediaries to work with him.
“When you engage CBI for your sale, merger or acquisition, CBI leverages the vast experience of its team, industry contacts, large buyer database, current technology and professional marketing resources in order to effect successful outcomes for our clients,” Still said.
About 95% of CBI’s business is with privately-held businesses, and most sales involve companies that sell for less than $20 million, Grimes said. Baby boomers looking to sell are generating a lot of business for the company. CBI also works with people looking to purchase a business.
In Tulsa, Still often works with companies supporting the oil industry.
Grimes said each office operates “fairly autonomously,” and “Roy is committed to the long term with our business.”
CBI was established in 1994 and also has offices in Little Rock and Fort Smith. The company has 15 intermediaries and the capacity to handle four to six other offices, such as in Dallas, Memphis and Springfield, Mo.
“We’re always interested in expansion,” Grimes said. “We’re excited because we just think there’s a world of opportunity out there.”