Pictured L to R: Todd Smoot (Buyer), Joshua Ward (Operator/Partner), Andy Lamers (Seller), CBI Tulsa President Dr. John Sherrill
Andy Lamers, United Cold Storage Seller entrusted selling his business to CBI and just sold the Cold Storage facility for $300,000 over asking price. In April of 2021, Andy approached CBI and a few other competitor business brokers in search of selling his business. He chose CBI Tulsa, he said, because of CBI’s proven processes and the ability to understand his niche business and how to market and sell it.
Preparing, marketing and selling United Cold Storage presented challenges according to, Dr. John Sherrill President of CBI Tulsa. One of the biggest challenges was the amount of interest this 3PL (3rd-Party Logistics) business generated when CBI began its aggressive marketing campaign. “Patience was required,” said Dr. Sherrill, “because the role of a business broker is one that many don’t fully understand, it requires lots of communication, hundreds of emails, calls, texts, etc. to keep the deal moving along and everyone on pace,” Dr. Sherrill concluded.
The new owner Todd Smoot and Operator/Partner Joshua Ward have experience in storage facilities. United Cold Storage operates within the 3PL space of refrigerated and frozen products. This business handles cold products in the facility, warehouses them and maintains temperature-controlled environments 24/7. To learn more about United Cold Storage visit unitedcold.com or contact info@unitedcold.com for more details.
CBI served as advisor to Mr. Lamers and United Cold Storage in this transaction. During the process, CBI identified many other prospective 3PL buyers. If you have been thinking about selling your storage facility of any kind, CBI has a buyer database with thousands of prospects. Contact CBI today at confidential@cbiteam.com or call 877-582-5200.
