Franchisees buy out Sunbelt Business Brokers

Deseret News (Salt Lake City), Mar 11, 2003

Sunbelt Business Brokers, a South Carolina company with franchises in Salt Lake City, announced it has been sold to its franchisees in a friendly buyout.

Sunbelt Acquisition Co. was formed by the more than 80 franchisees participating in the purchase, including the Salt Lake franchises. Sunbelt Business owner Ed Pendarvis will remain president and chairman of the company's board for at least the next five years, as a condition of the sale. The financial terms of the deal were not disclosed.

Sunbelt operates 346 offices throughout the United States and 11 foreign countries.