CARY, NC, Oct. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Small Business Development Group, Inc. (OTC:SBDG) (www.SBDGStock.com) announced today that the Company has signed a Definitive Agreement to acquire a successful mergers and acquisition firm based in the Northeastern United States.
“This firm has had many years of success involving a wide variety of industries in the Mid-Atlantic region and New York City. They are noted for their professional staff and the excellent due diligence they perform,” said Roy Y. Salisbury, Small Business Development Group CEO and Chairman.
Mr. Salisbury explains that this begins the Company’s business model to establish offices throughout the U.S. to effectively deal with potential transactions in the various regions of the country: “We are excited to acquire Stony Hill Advisors for what they have accomplished, what they continue to accomplish, and what we believe they can do with the help of SBDG. We see the Stony Hill Team as the base of what will become an M&A Advisory firm with a national footprint.”
The Founder and CEO of Stony Hill Advisors, Paul Visokey will continue with the company in an expanded role to assist with the national expansion. “We are very excited to be moving forward together with Small Business Development Group. I have spent a considerable amount of time meeting with both Roy Salisbury and Brian Jue, and I am very excited that Stony Hill Advisors will be an integral part of SBDG’s growth. When I started Stony Hill, it was about helping people with their dreams and goals. Now we can do that on a much larger scale,” said Mr. Visokey.
“Small Business Development Group works with the companies it acquires to establish sound business practices, increasing their revenues and profitability. Our end goal is to spin them off as separate, successful publicly traded companies,” said Brian Jue, Chief Operating Officer and Director.
Mr. Jue explained that the acquisition of the M&A firm accomplishes two significant goals for SBDG and its shareholders: “One, the acquisition of Stony Hill Advisors provides SBDG with additional revenue as its business of advising on both buy and sell side transactions is profitable. Two, it provides deal flow for additional acquisitions that SBDG may want for its own portfolio,” the Company’s COO said. “This acquisition can bring us more companies that are spinout candidates, and will also become a spinout candidate itself. We believe that this is a great opportunity for everyone involved.”
About SBDG:
Small Business Development Group, Inc. (OTC: SBDG) is a holding company publicly traded on OTC Markets. SBDG has an active mandate to identify and acquire operating companies with a preference for those in the small to medium sized enterprise arena (SMBs and SMEs) based in North America, specifically those demonstrating modest but predictable growth and profitability over time. Ideal candidates for acquisition have an enterprise value between $2 million and $50 million with positive cash flows between $500,000 and $5 million. SBDG's intent for all acquisitions is to affirm or establish sound business fundamentals and to drive revenue and profitability growth. The goal of SBDG is to develop and align portfolio companies into high performance industry verticals and deliver additional value for its stakeholders and SBDG investors.
About Stony Hill Advisors:
Stony Hill Advisors LLC is a merger and acquisition advisory firm that specializes in providing intermediary services for lower middle market companies and small business entrepreneurs. They have assisted clients across a wide variety of industries throughout New Jersey, Pennsylvania, Delaware, Ohio, Connecticut and the New York metro region. They offer various professional services including mergers, acquisitions, divestitures, exit value planning, business valuations, and transaction consulting. Their role is that of a trusted advisor partnering with their clients and the client’s other trusted advisors to provide confidential, qualitative, and quantitative guidance and deliver results.
Visit www.stonyhilladvisors.com to learn more.
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This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business.
