Midwest Landscaping & Snow Firm Sold for $325K After 2 LOIs
Rachel Horner
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2 min read
About the Business
Industry: Property Services – Commercial Landscape Maintenance & Snow Removal
Location: Midwest
Size: $250K–$500K in annual revenue, $150K–$200K in cash flow, about 8–10 full-time staff plus seasonal help
Sale price: $325,000
Listing to signed LOI: 271 days
Signed LOI to close: 171 days
The Challenge: Stepping Back After 25 Years
The owner had worked his way up from the field and built the company over a decade of steady growth. After more than 25 years in the industry, he was ready to step back and focus on other ventures.
271 Days to a Signed LOI: Finding the Right Buyer
What happened at every stage
Valuation: Baton valued the company on its latest annual financials, which showed $150K–$200K in cash flow across maintenance and snow contracts.
Buyer Outreach: More than 90 buyers viewed the listing, 30+ opened the data room and the owner met 4 buyers. The Baton advisor flagged a bidder who made an offer before looking at the data room, and that offer was rejected for buyer fit.
Offer Selection and Negotiation Support: The winning buyer's first offer put $275,000 in cash at closing. The Baton advisor got a second opinion on the equipment-heavy business and sent a counter, which the buyer accepted a week later.
Diligence and Closing Support: The Baton advisor set up a shared diligence tracker and ran weekly check-ins for nearly six months. When the fall 2025 federal shutdown froze SBA loan numbers, the advisor kept the package ready and the deal closed two weeks after the loan number issued.
The Results
The buyer is an individual owner-operator who bought the company to lead its growth and rely on the existing crew for daily operations. Through Baton's process, the business:
Sold for $325,000 in an SBA-financed asset sale
Closed with $300,000 in cash at closing (an SBA 7(a) loan plus buyer equity) and a $25,000 seller note
Drew 2 LOIs from 4 buyer meetings
What's next for the owner?
The owner works with the buyer as a commission-based contractor on new business and is focused on his other ventures.
Advice and Lessons for Future Sellers
Screen buyers, not just offers. An offer made before a buyer reviews the data room is a reason to dig deeper.
Negotiate the cash at closing. Countering the first offer moved more of the price into cash at closing.
Expect outside delays with SBA deals. Keeping the loan package ready meant the deal closed soon after SBA processing resumed.