Day: April 3, 2020

Important Time-Sensitive Incentive for Buyers Considering an Acquisition Now

If you are considering a business acquisition, the recently-passed CARES Act contains an important benefit you may not have heard about.  It has not received a lot of publicity. The Act provides for a special subsidy for all outstanding Section 7(a) loans from the SBA.  It covers loans existing when the bill became law and also loans made within six months after it became law. This is a significant benefit.  For example, for a $1,000,000 loan with a seven-year maturity, it would represent a subsidy of over $86,000.  For a five year $1,000,000, the benefit would be over $114,000.  This … Read more

Westbridge Capital Acquires SCOPES Facility Services

Westbridge Capital Ltd. (Westbridge), a Canadian private equity management company,  has acquired Scopes Facility Services, Inc. (Scopes), a floor care and landscaping provider. Scopes operates in multiple states, providing commercial services to over 7,500 retail locations on behalf of two of the largest retail chains in the United States. “Scopes fits our acquisition criteria perfectly – 27 years of continuously profitable operations is an enviable track record, we intend on working with Kevin Williams as incoming CEO to build on this record of success” said Michael Meekins, President of Westbridge. Meekins continues, “we are also very happy to have Jason … Read more