“Bringing Mid-Market to Main Street” Most Middle Market M&A firms only consider transactions with valuations in excess of $20 million. Due to their structure and overhead, they tend to concentrate on larger deals and prefer not to be bothered with the challenges of smaller, family-owned companies. Traditional Business Brokers handle the sale of small retail and service “Main-street” businesses, typically with revenues of under $1 million. While these firms may attempt gain listings within the lower middle-market, they typically lack the knowledge, sophistication and resources to represent these business owners in the best possible manner. In the end, this approach often proves very costly for the business owners these brokers claim to represent. MidStreet was founded with the intention of addressing the under-served market that falls between these two segments, thus providing lower middle-market, privately-owned businesses with a level of representation previously made available only to much larger companies.
The Company has limited competition on the Outer Banks, particularly with regard to the wide range of high quality, natural products and the prepared food services offered by the Company. A convenience store and two smaller supermarkets are located on the Outer Banks, which sell primarily processed foods and a limited amount of gourmet foods. Starting in 2012, the Company decided to focus more on natural, organic foods, recognizing the significant growth prospects in the organic foods industry. The Company has a well-established reputation after having served Outer Banks visitors and local consumers for the past 27+ years. The Outer Banks is a popular destination for tourists from New York City, Washington, DC, Pennsylvania, Ohio, and other eastern US consumers, who have become multi-year recurring customers of the Company. The Company has been profiled in various travel magazines, and has a strong reputation with New York and Washington, DC tourists. Success in the industry is driven by providing a very high level of service combined a very wide range of high quality grocery products, while operating a clean and customer-friendly store. The Company has a long-standing knowledge of successfully operating its fresh meat and seafood deli, and has an excellent understanding of the tastes and behaviors of the local community. The Company has excellent brand recognition and is well-positioned for continued success.
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