Transworld Business Advisors, an international leader in assisting sellers and buyers of small businesses with professional business brokerage services, announced today the launch of a new division, Transworld M&A Advisors. According to Andrew Cagnetta, CEO of Transworld Business Advisors LLC, the new company will provide sellers and buyers of mid-sized, privately held businesses with the high-quality resources and sophisticated services traditionally reserved for firms valued over $100 million.
Transworld M&A Advisors will be headed by veteran M&A advisors, Len Russek and Mike Ertel as Managing Directors. The team will specialize in transactions among companies and business organizations or their operating units that are transferred or combined. Additionally, Transworld has acquired Ertel’s previous company Legacy M&A Advisors, and merged it into Transworld M&A Advisors. The new office is located at 400 Carillon Parkway, Suite 110 in St. Petersburg. Russek and Ertel also work closely with Peter Berg, Managing Director for the company’s mergers and acquisitions office in south Florida.
Russek and Ertel have more than 50 years of combined experience in all aspects of mergers and acquisitions along with vast experience in strategic business management and planning skills, senior management, public accounting, investment banking, and management consulting, to name a few.
For more than 25 years, Russek has served as a high-profile professional in Tampa Bay and central Florida with mergers and acquisitions, venture investing, raising capital, investment evaluation and strategic planning, and as an independent advisor. He is also a CPA who has served as a professional with a “Big Eight” firm. Russek specializes in finance, accounting, value-based planning, contract negotiations, business valuations, and structuring creative transactions with entrepreneurial management and strategic buyers or financial investors. He is a Certified Mergers and Acquisitions Intermediary. Russek holds a Bachelor of Science degree from the University of South Florida, College of Business Administration in Tampa, Fla. He resides in St. Petersburg, Fla.
“Together, Mike and I will continue to assist buyers and sellers of mid-sized companies in structuring successful business acquisition transactions,” said Russek. “We focus on assisting owners who have spent most of their working lives building equity in their own companies. And now, for various reasons, it’s time for them to successfully transition the business to a new owner and monetize the equity they’ve built up for retirement and other financial goals.”
According to Ertel, it’s estimated that the average business owner has 70 percent to 90 percent of their personal net worth tied up in or pledged to personal guarantees that support the business. Often, the quality of the business owner’s lifestyle in retirement, their capacity for charitable giving, and the size of the legacy to ultimately pass onto heirs, will be impacted for better or worse by their success in selling and transitioning the business. He added, while most successful business owners are experts at running their own businesses, they are relative novices when it comes to selling their business, and recognize that they will likely realize a much better result if they engage a professional mergers and acquisitions advisor to assist them in this process.
Ertel is known for his work in business management and ownership throughout Florida and the U.S. since 1969. He holds a Bachelor of Science degree in Electrical Engineering and a Master of Science degree in Industrial Administration from Purdue University in West Lafayette, Indiana. Ertel is a Certified M&A Advisor. Most recently, he worked with the 2016 Florida Legislature to pass the M&A Brokers bill which provides a conditional exemption from state registration as a securities broker-dealer to facilitate the purchase or sale of a privately held business which might involve securities. He serves on multiple boards of directors and resides in Bacopa Bay in St. Petersburg, Fla. For more information, call 888.864.6610, or visit the website at www.transworldma.com.
Transworld Business Advisors LLC specializes in the sale of businesses and helps thousands of clients in buying and selling their companies with an award-winning sales force of more than 80 professionals in Florida including Broward, Duval, Hillsborough, Lee, Miami-Dade, Orange, and St. Lucie counties. The company has 110 offices worldwide with international headquarters in South Florida. Visit the website at www.tworld.com.