Sunbelt Franchisees Buy Out Company in Friendly Sale
Charleston, South Carolina--Hostile takeovers arecommonplace in this dog-eat-dog corporate world. What's not socommon is a "friendly" buyout of a business by itsfranchisees. That's exactly what happened at Sunbelt BusinessBrokers, a business brokerage firm with 346 offices throughout theUnited States and 11 foreign countries.
Sunbelt had been privately owned and operated under theleadership of the company's owner and president, Ed Pendarvis,for nearly two decades. More than 80 franchisees participated inthe buyout. Pendarvis will remain as Sunbelt's president andchairman of the board for at least five years. -DavisAdvertising