UPSCALE LIFE
THE OWNER
Naples-born Ken Kelly is one of the most driven Florida business owners you will ever meet. At a young age, Ken took over the reins of his family’s roofing business in Naples when his father suffered a career-ending injury.
Thanks to a constant focus on people, process and technology, Ken would grow that small family business into a multi- million dollar enterprise employing over 300 Floridians and handling over 8,000 jobs per year across Florida.
Under Ken’s guidance the company joined the ranks of the Top 100 roofing contractors in America, was named Roofing Contractor of the Year, and won the Microsoft Visionary Award thanks to Ken’s passion for implementing creative ideas and new technology in the roofing business.
An avid plane and helicopter pilot, Ken met his wife Jennifer, a transplant clinical pharmacist, during an Angel Flight humanitarian mission. His son Austin is a successful businessman and served in the U.S. Marine Corps.
THE CHALLENGE
One of Ken’s greatest passions that he shares with Jennifer is flying, traveling to foreign countries and immersing in local cultures for weeks at a time.
Unfortunately, given the size and success of the family business he had grown, Ken found that he was always on call and never truly on vacation. He was also ready to take some chips off the table considering that a large percentage of his net worth was tied to the great Florida business he had built through decades of hard work, hurdles and personal sacrifices.
Over the years, Ken had been bombarded with requests from Main Street brokers offering to value and sell his company, but Ken knew his business had reached a level of sales and market value that would make it a much more complex transaction than a smaller Main Street deal.
In addition, Ken knew he was not looking for a buyer for his business but rather a partner who could take his business to the next level.
THE OPPORTUNITY
Multiple conversations with M&A advisors opened Ken’s eyes to the many options available to him beyond just selling the business.
The fact that he had grown the business to eight figures in revenue immediately positioned his company as an attractive target for private equity investors seeking a platform investment opportunity in Florida.
Ken soon realized that by using private equity’s money, he could supercharge the company’s balance sheet; gain access overnight to a team of finance, marketing and operations experts; and even establish equity programs for keymembers of his management team.
Most importantly for Ken, he would finally be able to take some chips off the table, de-risk both his life and his personal finances, and still retain an equity position in the new entity which would rapidly begin pursuing other roofing contractor acquisition opportunities across the state and across the country.
THE ADVISOR
Ultimately Ken chose to work with CII Business Advisors, one of the oldest M&A advisory firms in Florida.
Founded in 1986, CII has helped thousands of successful Florida business owners realize their dream of cashing out and enjoying their retirement years, pursuing new opportunities or riding the wave of private equity to new heights.
The initial meeting with CII President Cress Diglio is what convinced Ken that he had found the right advisor to quietly and confidentially market his business and attract the perfect partner to take care of his company, his family legacy as well as his dedicated team of workers.
“CII actually listened. Cress was genuinely interested in learning about what I needed to accomplish with a transaction and understanding what would be best for me, for my family and for my employees,” said Ken.
While Ken and Cress immediately clicked on a personal level, Ken said the CII Process was one of the main motivating factors in his decision to trust his family business to the team of professionals at CII.
“So much of the success of my business was due to a constant focus on process,” said Ken.
“The fact that CII has a process that has been fine tuned and proven over four decades gave me confidence they would be able to quietly market my business and simultaneously attract the right partner who would bring the financial firepower and marketing muscle, carry on my legacy and take care of my people.”
Shortly after that initial meeting the CII team went to work analyzing the company’s financials, determining a preliminary range of value for the business, preparing detailed marketing materials, fielding offers from potential partners and finally negotiating on Ken’s behalf.
Ken was amazed: “I was ready to jump at several offers, but Cress said, ‘You’re not ready yet. We can get you more for the business. A lot more.’”
How much more? Find out by watching Ken’s full story in the video below.