Chimera Strategies Announces a Limousine Company for Sale
Chimera Strategies, a Long Island based full service business brokerage firm, is the intermediary of record for this transaction
EAST HILLS, N.Y., Jan. 27, 2011 /PRNewswire/ -- A Limousine company, headquartered in New York, has built a strong business over the last 9 years based on referrals, white glove service from each driver and a unique, impeccably maintained fleet of limousines. It has developed relationships as the "house" or "preferred vendor" with many of the premiere Long Island based wedding and party destinations and with photographers, disc jockeys and other party type vendors. Our client also understands the importance of the Internet and social media and has nurtured positive feedback with one of the premiere party advice websites. Additionally, it maintains its own online presence. Our client's current lease can be an asset to a prospective buyer in a similar line of business.
Our client's reported net gross receipts have rebounded strongly in 2010 and have returned to pre-financial crisis levels. Additionally, net discretionary earnings are 50% of reported net gross receipts allowing the business to finance the note.
Asking Price
Our client is asking $700,000 for this business. Our client is seeking a down payment of 35% at time of closing and, if necessary, is offering to finance the remaining balance at a risk adjusted interest rate determined prior to closing over 36 months. The asking price includes $320,000 in fixed assets.
If required, our client will also remain with the buyer for 12 months to engineer a smooth transition.
Reason for Sale
Our client's spouse is retiring and they plan on relocating.
Contact Information:
Please contact Gary Kane at Chimera Strategies and reference File #119 for more information and to receive a selling memorandum. He can be reached by: 1) phone at 1-855-chimera (244-6372) x801 or locally at 516-801-3284 x801, or 2) by email at [email protected].
About Chimera Strategies
Chimera Strategies is a full service business brokerage firm offering our clients' unrivaled knowledge and experience in all phases of a merger or acquisition earned from positions on Wall Street and on Main Street. Our team manages the process for our clients and strives to add value in each phase. Additional information about Chimera Strategies can be found by visiting http://www.chimerastrategies.com.
SOURCE Chimera Strategies
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