Idaho home siding business Cornerstone Siding worked exclusively with Raincatcher to successfully run a process, list the business and successfully match it with the right buyer.
The decision to sell came after owner Nate Brennan realized it was time for him to make a change. He had been in the home siding business for 20 years, and his family had bought Cornerstone Siding seven years ago. Located outside Coeur d’Alene, the Idaho population and subsequent housing boom offered Brennan and his family a solid, repetitive revenue base.
Brennan had sold a franchise business before, which he found relatively straightforward. But the notion that a business that he had spent so much time running could even be sold, much less easily, was not something he thought he could do. He was concerned about risk, confidentiality, and the welfare of his employees.
Cornerstone saw a surge in gross profit and net income of 46% and 62%, accordingly, in the first five months of 2020 compared to the same period in the prior year. With little competition in the area, and a reputation for excellence, the Company was ripe for the right offer to come to the table. Moreover, repeat customers contributed 80-90% of the Company’s earnings, assuring continued revenue and cash flow security.
While the sale took many twists and turns on its journey, Raincatcher was able to work with Brennan and successfully bring the sale to closing in a way that not only satisfied both the buyer and seller, but also helped Breannan learn new skills in the process. According to Brennan:
“The process was a truly healthy one. It made me constantly look at my business and reevaluate it. My experience with Raincatcher left me with new confidence in myself and the business. Their team did a great job assuring me. I also was fascinated by the process and learning about it. Raincatcher helped me understand that they have done this several times, and even early on I understood the full scope of the process and even how much the selling price would be.”
Founded in Denver, Colorado, Raincatcher is a modern small business brokerage, setting new bars for its industry. Raincatcher works with business owners and buyers alike to not only optimize each company’s sale price but also match them to the right buyer when it comes time for sale. Powered by digital marketing tactics and its spirit of successful matchmaking, Raincatcher saw great potential in Cornerstone’s family-run business and was able to work with Brennan on priming his company for sale.
“Cornerstone’s long-standing local reputation, clean finances, and stable revenue base made it a great fit as a Raincatcher listing,” says Raincatcher CEO Marla DiCarlo.
The Cornerstone purchaser is made by Matt and Cody Baker. The Raincatcher broker who led the deal is Mark Halma. Click here to learn more about the sale.
Are you interested in buying or selling a small business? Raincatcher is here to help you create the next successful chapter in your entrepreneurial journey.
To learn more call 1-855-724-6228 or email support@raincatcher.com
About Raincatcher
Raincatcher is a national business brokerage that specializes in small and mid-market businesses. Our mission is to help entrepreneurs buy and sell remarkable companies.
In an effort to locally serve national business owners at every stage of their journey, Raincatcher has specialized directors to suit different business needs.
Director of Business Growth, Susan Frew
Managing Director – Midwest, Cameron Bishop
Managing Director – East Coast, Steve Fisher
Managing Director – West, Aaron Linnebach
Managing Director – Digital, Mark Woodbury
Our team is made up of accomplished small business owners who have experienced the challenges that small to mid-sized private companies face. This experience enables us to guide our clients with firsthand experience through all phases of the business selling and buying processes.
Our approach is different from the average business brokerage. We pride ourselves on servicing our clients with empathy and compassion, prioritizing their success, as we partner alongside them on their journeys.
Simply put, we care. We care about your business, and we will work hard to help you understand its value throughout your exit planning journey.
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