Midwest Lawn & Snow Company Sold for $634K, LOI in 27 Days
Rachel Horner
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2 min read
About the Business
Industry: Home Services – Residential and Commercial Lawn Care and Snow Removal
Location: Midwest
Size: $1.5M–$2M in annual revenue, $200K–$250K in cash flow
Sale price: $633,721 (asking price: $740,000)
Listing to signed LOI: 27 days
Signed LOI to close: 93 days
The Challenge: Handing Off a Company That Runs Itself
The owner wanted to focus on his other businesses. A general manager and an operations manager already ran the day-to-day, so he needed a buyer who could take over a working team.
27 Days to a Signed LOI: A Strategic Buyer on Day One
What happened at every stage
Valuation: Baton set the asking price at $740,000, about 3.1 times cash flow.
Buyer Outreach: At launch, Baton sent the listing to 448 sourced buyers and contacted competitors and a strategic-buyer list. A regional lawn and landscape operator asked for an introduction and a call on go-live day.
Offer Selection and Negotiation Support: An individual buyer submitted an SBA-backed LOI at $500,000, then revised it to $600,000. The owner signed the regional operator's $650,000 LOI, which needed no SBA loan, 27 days after launch.
Diligence and Closing Support: Baton ran weekly diligence calls with a shared tracker and coordinated the appraisal, buyer site visits and lease sublease. Terms were adjusted in the final weeks, and the deal closed 93 days after the LOI at about $634,000.
The Results
The buyer is a regional lawn and landscape operator that added the business as a new market location. Through Baton's process, the business:
Sold for $633,721, including a seller note
Received LOIs from 2 buyers within 27 days of launch
Closed without an SBA loan
What's next for the owner?
The owner is focused on his other businesses.
Advice and Lessons for Future Sellers
Build a team that runs without you. A general manager and an operations manager made the company ready for a strategic buyer.
Weigh certainty alongside price. The winning LOI was both the highest offer and free of an SBA loan.
Reach strategic buyers from day one. A regional operator engaged on go-live day and signed the winning LOI.