News: Press Release
Offit Kurman’s M&A Group Represents Buyer in Acquisition of Priddy Clean Chimney Sweeps
For Immediate Release
November 15, 2018 | Rockville, MD In a record-setting year of business transactional activity, Offit Kurman’s Mergers and Acquisitions (M&A) Practice Group assisted in the closure of another deal late last month. Attorney Michael N. Mercurio represented Seth Balsam and Kimberly Brooks (DBA Priddy’s Chimney, LLC) in their acquisition of Priddy Clean Chimney Sweeps, Inc. The transaction closed on October 31st.
Since 1982, Priddy Clean Chimney Sweeps has served residential and commercial customers in Maryland, D.C., and the Virginia metropolitan area. The company’s capabilities comprise everything from routine maintenance and emergency service to design and installation. Services include chimney inspection, chimney repair, chimney relining, chimney video scanning, fireplace design, and ancillary air duct work, masonry, and home improvement services. Mr. Balsam and Ms. Brooks purchased the company from its president, Jerry Priddy.
Offit Kurman has helped Mid-Atlantic business owners close numerous transactions over the course of 2018. Mr. Mercurio believes that although the M&A market is highly active and favorable to sellers now, it will not stay that way for long.
“The market is not going to stay hot,” he said. “Economists are predicting a recession sooner than later, meaning sellers will need to wait at least five years before these kinds of conditions open up again—and a lot can change in five years. I’m coaching my clients to be ready for sale and focus on optimizing their business’ value now.”
Offit Kurman’s M&A Practice Group has published several articles and resources on the ways business owners on both the sell-side and the buy-side can take advantage of the current M&A market. To learn more and to get in touch with an Offit Kurman M&A attorney, click here.
ABOUT MIKE MERCURIO
Mr. Mercurio serves as outside general counsel to clients on matters related to corporate and business law, commercial transactions, government contracting, healthcare, construction services, and real estate. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on all aspects of business and commerce including formation and structure; ownership, management, and control; financing and capital; expansion and acquisition; sale and transfer; and contraction and dissolution.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 180 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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