Green Heart Construction: Buying an Existing Business
Pat Sullivan first came to work at Green Heart Construction in Atlanta as an employee, working on the company’s various contracts with the US Army. After a year in the business, though, the owners approached him with an offer. They were ready to retire and wanted to know if he and his wife Melissa wanted to purchase the business. Pat and Melissa spent the next year working with the current owners to help run the business, and then purchased the company outright the next year.
Pat and Melissa, now co-owners, learned a lot during the purchase of the business. They worked with a good attorney whose advice saved them from a potential bad deal. They established relationships with high quality support staff who helped to smooth the transition and keep their business running smoothly. They filed the required paperwork with the state to make the business official. They bought the company’s assets from the previous owners.
Related: [Free eBook] All About Incorporation
In the end, they were able to offer their employees a smooth transition of ownership and have managed to grow their staff 4 people to 18.
Pat discusses in this 3 minute video:
Check back next week for part 2 of our series on Pat and Green Heart Construction.