Boat City Marine had been a family business for us since 1982. We decided it was time to transition the business to new owners and started the process in 2012. While the economy was still recovering, it was challenging to find buyers interested in acquiring a boat dealership.
The Rua Associates team continued to work diligently and patiently to find a buyer. Eventually, in 2014, we found the right buyer for the business. Although negotiations and discussions were challenging, the Rua team kept working on the transaction to bring it to a close in early 2015.
Pankaj Rajadhyaksha and the rest of the Rua team worked aggressively to ensure that the new buyer had the appropriate financing lined up to consummate the transaction. Their expertise in working with the Small Business Association (SBA) lending providers was an asset as well.
Rua Associates also helped ensure that communications between the buyer and the boat manufacturers remained on-track throughout the process.
While selling a family business is never easy and can be emotional, we feel that the business has transitioned into good hands with the new owners. We continue to be excited about the future of Boat City Marine.
Overall, we are satisfied with the outcome and would recommend Rua Associates to any business owner who may be contemplating the sale of their business.
More information about Boat City Marine can be found at www.boatcitymarine.com
Kris Nelson, Former owner, Boat City Marine