Sukay & Associates recently acted as the financial advisor for Domenick & Associates in its sale. Founded in 1993, Philadelphia-based Domenick & Associates is a full-service brokerage firm that provides risk management and insurance solutions to selected industries requiring specialized knowledge and expertise.
John Biasiello sat down with agency CEO Jim Domenick for a Q&A. Here are some of the highlights from that interview.
What were the obstacles to completing a sale and how did you overcome them?
Our Agency revenue included a significant percentage of “wholesale” business derived from independent producers, and our total revenue was under $1m. Luckily, the specialty nature of the agency helped to create initial interest and we were also able to leverage existing business relationships to generate interest.
John, you put together a very thorough offering book and were a tireless advocate throughout the process.
What made you select Sukay & Associates as your advisor?
We first started discussions with you based on a very strong initial recommendation from our legal counsel. From the very beginning, you demonstrated knowledge of the brokerage business and displayed a willingness to spend the time to gain an in-depth understanding of the agency. We couldn’t be happier with our decision.
What would you tell your peers about your experience?
I would advise any of my peers to consider Sukay & Associates and John Biasiello before selling their business. The support you provided and the confidence it gives you during the process is tremendous. You always put my needs ahead of your own.