Working On the Business, not In the Business: Montanez Purchases Plumbing Company
When Mike Montanez decided he was in the market for a new venture, he had never considered owning a plumbing company, but knew he wanted to purchase a business as an owner-operator. Mike was at a junction with many options in front of him. He could certainly buy an excellent plumbing company The Firm had in their portfolio – Mark’s Plumbing in Lincoln, Nebraska – but without a background as a plumber, where would that leave him?
The answer was simple: own and operate the plumbing company while retaining the existing staff. With Mike’s operations and management experience, he knew he could continue the business’s growth through technology and administrative oversight which would be a complement to the outstanding services already offered by the current operators of Mark’s Plumbing. “This is not an industry I was specifically looking for, but the numbers and business opportunities made it a perfect fit,” said Montanez.
Mark’s Plumbing is a family owned and operated business that has been serving the Lincoln community for nearly 20 years. Established by Mark Gottula, his team of three Journeymen and two apprentices work on everything from sewer lines to water heaters with a focus on service and price. Mark was proud to build a business centered around his family and helped to usher his son into the trade as well. When Mark contacted The Firm Business Brokerage to sell his business, he stressed that the incoming buyer should have the same family focus and desire to establish a secure and consistent future for the company after he retired.
Mike Montanez is far from the first buyer to purchase a business outside of their area of expertise. “We have sold veterinary practices to non-veterinarians, dental practices to those who aren’t dentists, and several trades businesses to those who aren’t in the trades,” says Cortney Sells, President of The Firm Business Brokerage. “Relationships like these work out well, because when an owner is focused on 1-to-1 customer service it can be hard to zoom out and look at the business as a whole. It’s hard to work on the business at the same time as working in the business.” Mike is far from the first non-plumber to own a successful plumbing business; Mark Evans of Burton Plumbing is another prime example.
Mark’s goals in mind as a Seller and Mike’s priorities as a buyer meshed well. Susanne Miller, In-House Counsel for The Firm Business Brokerage noticed the rapport between parties. “As closing day approached, it was clear that buyer and seller had formed a good working relationship, which points to continued success in the future.” Through The Firm, they devised a smooth transition with family in mind: Mark’s son will continue to work in the business under the new ownership of Mike Montanez to help carry on his father’s legacy. THE FIRM
Also in This Issue
- FirstLight Home Care: Owning a Purpose-Driven Business
- Loving Retirement: Celebrating Five Years of Enjoyment
- Moving On and Moving Up: Seller & Buyer of Sioux City's Premier Mover
- 2017 in Review: The Market is Shifting
- Firm Profile: Jessica Hughes, Experience Manager
- Executive Impact - Forecast: What's to Come