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-- SOLD --
Tri-Lumber and Hardware Company
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Pictured: Andy McClosky (left), former owner of Tri-Lumber & Hardware, Chris Miller (center), Acquisitions Manager with Parker Lumber, and Scott Parker (right), owner of Parker Lumber. |
CBB served as intermediary in the sale of Tri-Lumber Hardware of Houston, Texas, to Parker Lumber Company, headquartered in Beaumont, Texas. The acquisition creates the 18th location of Parker Lumber's stores serving customers in Texas and California.
Tri-Lumber Hardware was established in 1957 and has been in the same location for 55 years. Andy McCloskey, the majority shareholder, grew up working in the store and lumberyard created by his father. They initially served the farm and ranch community on the edge of the city, but as Houston expanded around the store, Andy and his family continued to provide the same friendly, small-town service to their urban customers. When Andy decided to retire, he contacted CBB to help him with the sale of the business.
Parker Lumber Company was the ideal buyer for Andy's company. Parker is also a family owned business that was established over 70 years ago in Port Arthur, Texas. Scott Parker, CEO of Parker Lumber, has guided the growth of the company by starting or acquiring hardware stores in primarily rural areas where there is little competition from the big box stores. Scott determined that Tri-Lumber was an excellent opportunity for Parker to expand to a metropolitan area since the owners and employees had same customer focus and attention to personal service that is the foundation of Parker Lumber's success.
We wish the best to Andy in his retirement and to Parker in their new venture!
Frank Stabler listed and sold the business. |
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Increase the Value of Your Business - Document Your Marketing Plan 
An articulated, working marketing plan is a sign of an organized business and provides a roadmap for a new owner to follow.
A marketing plan that is tailored to reach a defined target audience instills confidence that growth can be achieved in an effective, predictable manner under new ownership.
In other words, by increasing the probability that the business will continue to perform and grow into the future, the risks associated with acquiring the business are significantly reduced in the eyes of prospective buyers. Less risk means a better value. Therefore, the efficiency with which you attract customers will increase the purchase price paid for your business.
Some points to consider in developing your marketing plan that would be important to prospective buyers:
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We Are Fortunate to Live in Texas
We watch economic and market conditions compared to the rest of the country because these factors affect business value. The following articles were all published since our last newsletter.
Texas Economic Update - The Bleyzer Foundation - Feb 2012 - 1 in 4 new private sector jobs have come from TX so far this year
Houston No. 1 for corporate expansion and relocation in the U.S. for the 3rd consecutive year - Houston #1, San Antonio #5, Austin #6, Dallas #15
Since 2008, Texas has added 182% more new private sector jobs than all other job-adding states COMBINED
Austin a top real estate investment market
Texas second-highest in number of startups last year
Houston exporters could see rapid growth in Asian markets as new trade incentives kick in
The fastest growing job markets in the U.S.- Austin #1, Houston #3, Dallas #8, San Antonio #23
The Fast Track to No. 1 - A rapidly expanding economy propels Houston to the top spot among nation's largest cities
Never underestimate Houston's financial prowess
Texas solar industry ranks high nationally
Business owners in Texas call for change to main business tax - Established in 2006, the margin tax must go!
Apple to build $304M campus, hire 3,600 in Austin
Houston No. 7 most-competitive city in U.S. and No. 23 Worldwide - Houston No. 11 for human capital
Houston hotels on hiring spree - News citing Houston one of top prosperous U.S. cities is supported by its hotel industry
Texas leads the country in dining out according to Zagat 2012 Survey
Houston has low regulatory barriers for manufacturers building plants or expanding - "attracting manufacturers from all over the world"
Developers creating more Class A space in Houston's Energy Corridor - "It's got pent-up demand."
Class A office space is so tight in The Woodlands that companies relocating to that Houston suburb have to build new |
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Ask the Experts Section
Q: If I list my business for sale, will I have to negotiate the price?
A: When a serious qualified buyer prospect comes along, the negotiation strategy should be one that results in a winning deal for both the seller and the buyer. A good deal is never one-sided. Both parties should work as allies since the goal of one will achieve the goal of the other. If the parties can determine the factors that are most important to each, the price and the terms of the deal can be structured to meet those needs. The answer in a short sentence would be that "a successful sale is not just about the price tag." The terms and structure are what make the deal.
Negotiating tips that can make a deal work:
- Resolve the toughest issues first.
- Don't get bogged down in minor details.
- Keep egos at bay.
- Focus on common interests.
- Discuss different ways to solve any particular problem before making a decision.
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