M.T, President – Collection Agency

January 7, 2016

My wife and I are the owners and founders of a medical debt collection agency. We have been in business for over 40 years and take pride in the fact that we operated one of the top medical debt collection agencies in California. We worked with some of the top hospitals in the state and have some of the highest percentage of collection statistics in the industry.
After a long and successful run, my wife and I decided it was time to sell the agency and retire. We initially reached out to a national business brokerage firm who had an office in our area. We met with one of their associates and listed our business. We were not familiar with the process so we trusted that what needed to be down was being done. We worked with this Business Broker for some time but she was unsuccessful in selling our business.

We reached out to our CPA who said he would ask the partners in the firm if anyone had a recommendation for a high caliber Business Broker. A few days later our CPA called and said several people recommended that I contact Matt Coletta.

I contacted Matt and we had an informative first call. We set up a meeting and Matt explained in detail what makes him different than most Business Brokers. I listened and definitely learned more about the process than I did with the first Broker. I felt very comfortable with Matt and I could tell I was going to have a different experience with him.

We moved forward with Matt and signed an agreement. He started working with my CFO to prepare a very impressive package on my business. This package was very detailed and included financial spreadsheets that spelled out our company’s historical figures. Once this package was completed, Matt began marketing our business.

Over a period of a few months, Matt spoke to several people that expressed interested. After thoroughly screening them, we met with a handful of them until we came to terms with the final buyer. Matt negotiated the deal with fair terms and conditions for both sides. Matt worked with my CFO to manage the due diligence process and provide all the books and records to the buyer. After this was completed, Matt worked with all the attorneys to complete all the documents. There were a lot of twist and turns with this process but I have to say Matt handled all the issues that came up in a timely and professional matter.

I did not realize until after this process was complete all details that were involved in selling a business. My wife and I are very thankful that Matt was always there to manage the process, address our concerns and be a fair advocate for the transaction. I can now retire in peace knowing that my transaction was handled by a professional.

I would highly recommend Matt Coletta to anyone looking to sell their business.