Charleston, South Carolina--Hostile takeovers are commonplace in this dog-eat-dog corporate world. What's not so common is a "friendly" buyout of a business by its franchisees. That's exactly what happened at Sunbelt Business Brokers, a business brokerage firm with 346 offices throughout the United States and 11 foreign countries.
Sunbelt had been privately owned and operated under the leadership of the company's owner and president, Ed Pendarvis, for nearly two decades. More than 80 franchisees participated in the buyout. Pendarvis will remain as Sunbelt's president and chairman of the board for at least five years. -Davis Advertising
