The 14-year-old company did $28.9 million, or about $482,000 per transaction, on 60 closings last year, making it the No. 1 business brokerage in the state, according to statistics culled by the Florida Business Brokers Association. Thirty percent of the deals were co-brokered.
The $28.9 million represents a 43% increase over the firm's previous high of $20.2 million on 61 transactions in 1998.
"A large share of the company's success over the past few years can be attributed to our extensive interaction with outside brokers," Read tells GlobeSt.com. Corporate Investment has sold 600 companies valued at a half billion dollars since its inception in 1986.
In the last four years alone, the firm has sold 200 companies valued at an aggregate $100 million. Last year's 60 businesses collectively had estimated gross sales of $58 million. The current economic slowdown in some sectors hasn't reached Corporate Investment yet.
"We believe that 2000 was a springboard for an even bigger 2001," Read says. "We have our eyes on the $40-million sales barrier, which is truly unprecedented in this industry."
The company's Merger & Acquisitions and Main Street divisions brokered the transactions. Commercial Investment International has a staff of 35 professionals in Orlando, Clearwater, Cocoa Beach, Delray Beach and Jacksonville, FL offices.
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