Sunbelt Expands Into Oklahoma

Sunbelt Business Advisors of the Ozarks is now Sunbelt Business Advisors of Mid-America.

Carl Grimes, owner of the Lowell-based business brokerage, said the company recently secured the Tulsa and Oklahoma City territories, which adds to the company’s other market coverage in Northwest Arkansas, Springfield, Mo., and Joplin, Mo.

Grimes said the Tulsa location was active and that the previous owner will remain on staff. Sunbelt didn’t have an office open in Oklahoma City, so he plans to hire employees and open an office there.

Sunbelt helps match up owners of businesses who want to sell with people who want to work for themselves. Grimes said he helps sellers figure the value of their business, how to market it to a buyer and how to negotiate the transactions. He charges 10 percent of the selling price up to a $1 million transaction, and then a negotiable fee for anything above.

Sunbelt Business Advisors LLC is based in Independence, Ohio, and territories are sold as franchises.

Grimes said his company did about $1 million in revenue in 2005 and closed on 26 different businesses.

As of March 27, the company had closed on nine transactions in 2006, he said.

Grimes’ company has also developed a preferred lender network, he said. Some local lenders don’t lend for business acquisitions because it might not fit its portfolio profile, Grimes said. Therefore, his network helps connect buyers with 16 to 25 willing lenders across the country.