ENLIGN Sells Longino Distributing in Statesville, North Carolina
ENLIGN DEAL TEAM | 10/06/2020
Statesville, NC – Longino Distributing, a company providing top quality POS products and accessories for small businesses, serving the mid-Atlantic and Southeast United States, and the Northeast and New York areas from a satellite center in Massachusetts, is under new ownership.
Joe Vagnone, the Charlotte Area Managing Director with ENLIGN Business Brokers & Advisors facilitated this sale between the Seller Ed Longino, and Reed Robertson, the Buyer. The sale of this business was especially challenging, due to the COVID-19 pandemic plaguing the world with both physical restrictions and economic challenges for the seven months prior to the sale of this business, whose main market consists of restaurants and small retail stores.
Joe Vagnone had this to say: “The distribution industry has been changing right before our eyes, requiring more and more cost control and inventory control than ever before. A buyer will need to be creative and a true partner with the dealers they supply. Reed Robertson will prove great at this challenge.”
Joe Vagnone is a proud referral partner of Quest (www.questnow.net ), an independent business advisory firm dedicated to helping business owners reach their goals and prepare for transitions. This deal is reflective of Joe’s long-standing relationship with Quest teammates Dale Gillmore and Ed Marxen, with whom he has a very successful relationship. These key associations ultimately help the client, giving Joe the nickname “broker’s broker.”
ENLIGN marketed the opportunity with the top online business listing services, including ENLIGN's website, www.enlign.com before the sale.
ENLIGN, representing the seller, prepared a buyer's information packet, provided a broker's opinion of value, worked with the seller to determine an appropriate asking price, pre-qualified potential buyers, represented the seller in pre-offer discussions, assisted in the negotiation of the terms of the transaction, and worked with buyer's and seller's closing documents for client review and execution.
I tell all my clients, "You're not paying me just to find a willing buyer; you're really paying me to get the deal done." - Joe Vagnone
For more information, visit ENLIGN's website.
Keywords: ENLIGN, Business Brokers, ENLIGN Advisors, Joe Vagnone, business, sale, sold, Seller, Buyer, negotiation, valuation, marketing, Ed Longino, Reed Robertson, Statesville, NC, North Carolina, Distribution, restaurant, supply, logistics, POS, point of sale
ENLIGN Advisors, which has its headquarters in Raleigh, NC and regional offices in Charlotte, NC, Greensboro, NC, Atlanta, GA and Orlando, FL provides seller and buyer services, professional negotiation, and valuation and marketing services to small and medium business sellers and buyers. ENLIGN provides business owners wishing to sell their businesses with discrete, objective counsel and valuation advice implementing an innovative, comprehensive approach to marketing businesses for sale. Complete confidentiality is provided throughout the process. ENLIGN, which is a member of the International Business Brokers Association (IBBA), M&A Source (MAS) and the American Business Brokers Association (ABBA), requires that its agents and affiliates have owned a successful business of their own, hold an advanced degree and be members of IBBA working towards or having completed the Certified Business Intermediary (CBI) accreditation. For more information about buying or selling a business or becoming an ENLIGN affiliate broker, contact Jeff Snell at email@example.com or visit the Web site at www.enlign.com.