WOBURN, Mass. Satish Patel has big plans for his Sunbelt Business Sales & Acquisitions franchise in New England, which he started in 2003. Patel, the chief executive officer and president, has grown his franchise to four offices in Massachusetts, and he is looking to expand to another six offices over the next three years.
Sunbelt Business Advisors Network LLC is a national business brokerage firm based in Independence, Ohio, that helps people buy and sell businesses. Sunbelt has 300 offices in the United States as well as in 30 countries and employs 1,500 business brokers. In February 2006, Sunbelt was acquired by Merrymeeting Inc., an investment firm that focuses on acquiring and developing franchised brands.
Sunbelt focuses on: general businesses with gross sales of less than $1 million and fewer than 20 employees, as well as franchise re-sales. Typical brokerage deals are in the $3 million to $30 million range. Sunbelt brokers the sale of about 4,000 businesses annually.
Sunbelt was founded in 1978 by Edward Pendarvis, who remains chairman emeritus. Pendarvis first met Patel at a Sunbelt franchise meeting and said he is in the upper tier at...