Staying Afloat Through the Storm

For Tony Leonard and Jeff Roll, owners of Innovative Marine Systems, LLC, the decision to sell their business wasn’t made lightly. After years of running their company, health concerns and a well-earned retirement motivated the partners to step away from the helm. But the journey to closing the deal came with a few unexpected twists.

The business itself was strong with engineered patents on their products, third party vendors successfully managing manufacturing and quality control, and simple and clean financials all making it attractive to buyers. But a declining sales trend complicated the picture. The business had real value, but it would take the right broker to help buyers see the company’s long-term potential beyond the recent dip.

Luckily, Tony and Jeff knew exactly who to call for help since Calhoun Companies was already part of the story. They originally purchased the company through Calhoun agent Joanne Olson years ago. When it came time to sell, they naturally returned—this time with Christopher Lappen and Duane Johnson leading the charge.

“We knew this was a premium business, but we did have to adjust for the declining trend,” explains Lappen. “We adjusted the price to account for the decline to make it more appealing to buyers.”

Early interest was high, with two separate offers progressing into due diligence. Unfortunately, those buyers backed out, but Tony and Jeff stayed committed to the process, trusting their team to find the right fit for them.

That patience paid off.

A previous customer, an out-of-state buyer based in Buffalo, NY, stepped forward with a strong offer and a large cash down payment. Not only was this buyer financially solid, but they also had firsthand experience with the company’s products. From signing the letter of intent to closing, the transaction took under 45 days. The business will now operate out of New York, ready for a new chapter under new leadership.

In the end, the sellers walked away with more than just a deal—they got an offer better than the previous two, allowing one partner to exit cleanly and the other to retire with confidence.

Sometimes the best outcomes come after setbacks. At Calhoun Companies, we don’t just broker deals, we see our clients through to the finish line.