ROI Corporation, a leading business brokerage firm based in Weymouth, MA, and Marietta GA, is expanding into Connecticut with the opening of an office in Simsbury, and with the appointment of seasoned business broker David Richman leading the charge.
Richman, who will serve as Executive Vice-President/Regional Director, brings a wealth of experience to his new role with ROI. His business brokerage experience includes working within the service, manufacturing, technology, education, restaurant and retail industries. He has negotiated sales and acquisitions of private and public companies valued over $21,000,000. The Simsbury CT resident has been an active business broker with another agency for the past four years but switched to affiliate with ROI in June because of ROI’s strong reputation in the marketplace. “ROI is a powerhouse,” he said, adding, “I am looking forward to working with Gary Rayberg and his team and building the ROI brand here in Connecticut.”
Richman is no stranger to the acquisition and sale of businesses. He has started and sold 11 of his own companies. His resume includes developing a self- storage business, a digital sign company, a business managing 14 commercial properties, and a large employee benefits agency. He said, “I understand from personal experience the time to buy and the time to sell. I consider myself a dealmaker, one who has learned from personal experience.” He built his employee benefits agency to include 11 partners, 30 employees and to the 4th largest agency in Connecticut. He is also the owner of David Richman Insurance Strategies. Richman will concentrate his efforts on mid-market, for businesses from $200,000 to $5 million.
“Connecticut is a market that needs ROI’s services,” Richman said. “We believe the mid-market business is underserved here. Many baby boomer business owners are looking to transition, and that provides great opportunities for up and coming entrepreneurs. We are very pleased to be able to offer a brokerage that addresses this growing need.”
He and his wife reside in Simsbury, CT where they raised two daughters and a son. In his leisure time he enjoys being with his family, skiing, fishing, the outdoors, and playing the saxophone. He enjoys reading business literature and researching business trends. He is also active with the American Tinnitus Association and started a Connecticut chapter. He has served on a number of boards, including his local synagogue.
Gary Rayberg, President of ROI Corporation, said, “Bringing David onto our team, and our expansion in to the Connecticut market is a win-win for us. Not only do we get to establish the ROI brand in Connecticut with a new office, we get the most seasoned broker to join forces with us!”
He added, "David has that unique ability to assess a business on a first face-to-face meeting. He knows how to ask the right questions, and as an entrepreneur himself, he understands businesses and what makes them tick.”
He continued, “The CT office will offer the full range of services including assisting business owners in the sale of their company, as well as full certified valuation services, key employee and family ownership transition consulting. David is backed by a very capable administrative staff in Hartford and at our headquarters in Rockland, MA. David is a quality broker with a stellar reputation and strong, strong business background. We look forward to partnering with him as ROI expands in Connecticut.”
About ROI Corporation
ROI Corporation, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division. Their Marietta, Georgia office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. For more information, please visit us on the web at www.roicorporation.com or call (781) 682-6209.