| Merrymeeting, Inc. Acquires the Sunbelt Business Advisors Network |
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CLEVELAND, OH, February 14, 2006 – MMI Business Brokers, LLC has acquired the assets of Sunbelt Business Advisors Network, LLC. Sunbelt® is the world’s largest network of franchised business broker offices, with approximately 300 offices and 1,300 brokers located throughout the world. MMI Business Brokers is a subsidiary of Merrymeeting®, Inc., a Cleveland-based company specializing in the acquisition and development of franchise systems. Merrymeeting now owns and operates four service oriented franchise systems with nearly 1,200 total franchised locations. The acquisition is a manifestation of Merrymeeting's strategic vision to operate 2,010 franchise locations by the year 2010. "We call it the '2010 by 2010' goal," stated John Davies, President and CEO of Merrymeeting. "We are pursuing an aggressive growth strategy and the addition of Sunbelt not only increases our franchised unit count, but offers many synergistic opportunities as well. Sunbelt franchisees are a group of highly successful, sophisticated business owners and we are very excited to have Sunbelt join the Merrymeeting family of brands." "Merrymeeting's franchising expertise and business acumen complement Sunbelt's marketing resources, reputation for professionalism and passionate commitment to the concept of business ownership," stated Ed Pendarvis, Sunbelt's Founder and Chairman Emeritus. "Working together will enable Sunbelt to achieve its full worldwide potential." Sunbelt was founded in 1978 in Charleston, South Carolina and began franchising in 1993. The company specializes in helping individuals and companies buy and sell businesses in all four areas of the private business market: Main Street, Franchise Sales, Franchise Resales and Mergers & Acquisitions. There are currently 300 offices in 47 states and 11 foreign countries. To learn more, please visit www.sunbeltnetwork.com. Merrymeeting, Inc. is an investment firm specializing in the acquisition and development of franchise systems and related services. The Merrymeeting family of brands also includes Frontier Adjusters, the nation’s largest claims adjusting franchise (www.frontieradjusters.com); MTO Cleaning Services, a residential and commercial cleaning franchise (www.mtoclean.com); and ProSpection, a franchise of professional home inspectors (www.prospectionusa.com). To learn more about Merrymeeting, please visit www.merrymtg.com. |
