Confidential Business Intermediaries (The CBI Team) Research
Advisory Approach
Confidential Business Intermediaries (CBI Team) is a full-service business brokerage and M&A advisory firm that has been facilitating business transitions for over 30 years. Founded in 1994, the firm operates with a clear thesis: confidentiality, combined with institutional-quality process management and deep local market knowledge, delivers optimal outcomes for business owners in the lower middle market. The firm's philosophy centers on treating each business sale with the same rigor as a Wall Street M&A transaction, while maintaining the personal touch that main street business owners expect.
CBI's approach is distinctly relationship-driven. They believe that the best deals emerge when sellers work with advisors who understand not just valuation and financials, but the emotional and practical dimensions of business ownership transitions. This philosophy is reflected in their tagline: "Business Brokers Confidentially Helping People Sell, Buy & Grow Businesses To Secure Their Financial Future."
The firm has evolved significantly since its founding. Originally focused on traditional business brokerage, CBI has developed a sophisticated M&A advisory arm (CBI Advisory Partners) that serves companies with enterprise values between $2 million and $50 million. This evolution reflects the firm's recognition that many lower middle market companies need more than just a listing service—they need comprehensive exit planning, valuation expertise, and access to sophisticated buyer networks.
Sector Focus
CBI Team maintains a broad sector focus, reflecting the diverse economy of the Arkansas-Oklahoma-Tennessee region they serve. The firm has completed transactions across numerous industries, with particular depth in several key areas:
Restaurants and Food Service: The firm has extensive experience selling independent restaurants, franchises, and food service businesses. Recent transactions include New Tokyo (Japanese restaurant in Harrison, AR), ArkanSeoul (Korean restaurant in Bentonville, AR), McBride's Café (bakery and café in Little Rock medical center), and multiple franchise food service businesses. Their team understands the unique dynamics of restaurant valuation, including equipment depreciation, lease assignments, and the critical importance of location and brand reputation.
Childcare and Education Services: CBI has sold multiple childcare centers and educational services businesses. The sale of Kidz in Motion Childcare Center in Centerton, AR, to buyers from Texas demonstrates the firm's ability to source buyers beyond their immediate geography, which is particularly valuable in specialized sectors like childcare where regulatory requirements and operational expertise create barriers to entry.
Healthcare and Professional Practices: Under the leadership of founder Carl Grimes, CBI has developed specialized expertise in dental and orthodontic practice sales. The firm has sold "well over a dozen" dental practices in recent years, making it one of the most active practice brokers in the region. This specialization reflects the unique requirements of healthcare practice transitions, including patient base valuation, regulatory compliance, and the critical importance of maintaining continuity of care.
Industrial and Manufacturing: The sale of CEMCO Controls and Electric Motors Company, a 40-year-old family business in Joplin, MO, demonstrates CBI's capability in complex industrial transactions. These deals often involve real estate, specialized equipment valuations, and finding buyers with industry expertise who can preserve customer relationships built over decades.
Construction and Trades: Dramis Hardwood Floors, a 40-year-old Fayetteville company with substantial goodwill, represents CBI's experience in trades businesses where reputation and customer relationships are primary value drivers. The successful transition to new owners who could maintain the company's excellent reputation exemplifies CBI's focus on match quality, not just price.
Business Services: The sale of Cleaner Solutions, a commercial cleaning services and equipment retailer in Rogers, AR, highlights CBI's work in recurring-revenue business services models. These transactions often involve transitioning service contracts and customer relationships that require careful stewardship during ownership changes.
Fitness and Wellness: CBI's sale of Hotworx Texarkana during the COVID-19 pandemic demonstrates their ability to navigate complex situations. The deal required strategic positioning—helping the owners increase top-line sales through improved membership growth before bringing the market—showcasing CBI's advisory capabilities beyond pure brokerage.
Deal Track Record
CBI Team claims to have sold approximately 800 businesses since its founding in 1994, averaging 25-30 transactions per year. Founder Carl Grimes personally has been involved in over 850 transactions during his 40+ year career. This volume makes CBI one of the most active business brokerage firms in the mid-South region.
The firm maintains an active blog documenting completed transactions, providing transparency into their deal flow. Recent publicly disclosed transactions span 2020-2025 and include:
- Studio 24 (Siloam Springs, AR): Hair salon sold to key employee Maegan Jackson, demonstrating CBI's ability to structure management buyouts and internal transitions
- Kidz in Motion (Centerton, AR): Childcare center sold to buyers from Texas, facilitated by John Green for sellers and Carol Gresham for buyers, with financing through CBI's Loans4Biz program managed by Kelly Tivis
- New Tokyo (Harrison, AR): Restaurant sold to Jever Inc., with sellers praising the process as "easy and smooth" and noting that CBI helped them both sell and buy another business
- ArkanSeoul (Bentonville, AR): Korean restaurant sold to Reiner Wibowo, with sellers expressing gratitude for guidance and noting the buyers would "fulfill their dream" for the business
- Cleaner Solutions (Rogers, AR): Commercial cleaning business sold to out-of-state buyer George Lutz, demonstrating CBI's ability to source buyers beyond Arkansas
- CEMCO Controls (Joplin, MO): 40-year-old industrial business sold to 3BG, with sellers thanking Carol Gresham for finding "a buyer that will take our company to the next level"
- Hotworx Texarkana (Texarkana, AR): Fitness franchise sold during COVID recovery to serial entrepreneur Michael McNamara, requiring strategic turnaround work before sale
- Dramis Hardwood Floors (Fayetteville, AR): 40-year-old flooring company with substantial goodwill sold to buyers Josh Gagnon and Luke Dye, with one buyer from out-of-state
- McBride's Café (Little Rock, AR): Restaurant and bakery in Baptist Health Medical Center sold to Santillan Family Investments LLC, serial restaurant entrepreneurs
- Franchise Business (Bentonville, AR): Food franchise sold in March 2025 to buyer with extensive food industry experience
This track record demonstrates CBI's breadth across transaction types: family business transitions, internal buyouts, out-of-state buyer placements, franchise resales, and complex situations requiring operational improvements before sale.
Process & Fee Structure
CBI Team employs a proprietary "Market Value Process (MVP)" for larger or more complex engagements. MVP is a confidential auction process designed to maximize value by exposing the business to a pre-screened network of local, national, and international buyers, then creating competitive tension to encourage buyers to put their best price and terms on the table. This approach is particularly valuable for businesses where valuation may be unclear or where the seller wants to ensure they've achieved true market value.
For traditional main street businesses, CBI uses a streamlined process:
- Free initial consultation and business evaluation
- Business information analysis and valuation assessment
- Customized marketing plan development
- Confidential buyer outreach and screening
- Offer negotiation and due diligence support
- Closing coordination
The firm emphasizes that many transactions close within 4-6 months of going to market, though complex deals may take longer. The Studio 24 transaction, for example, closed within 4 weeks of listing when a key employee emerged as a buyer, demonstrating CBI's flexibility in adapting process to circumstances.
CBI offers several specialized programs:
Target Acquisition Program (TAP): An industry-leading service for buyers, based on 20+ years of experience, that helps individuals secure their dream of business ownership. This reflects CBI's recognition that successful brokerage requires strong buyer networks, not just seller relationships.
Loans4Biz: A lending program designed to expedite financing for buyers. The program aims to make the lending process "quicker and more efficient" by connecting buyers with lenders who want to say "yes." This vertical integration—providing financing alongside brokerage—gives CBI a competitive advantage in deal execution.
Value Builder System: CBI is a Certified Value Builder System™ Advisor, offering leading-edge valuation tools to help business owners understand and increase their business value before taking it to market. This advisory service, often provided 1-3 years before a planned sale, helps owners maximize exit value through operational improvements and financial optimization.
Fee Structure: While CBI does not publicly disclose specific fee percentages, industry norms for business brokers in their market suggest:
- Retainer/Engagement Fee: Typically $5,000-$25,000 depending on business size and complexity, often credited against success fee
- Success Fee: Industry standard is 8-12% of transaction value for main street businesses under $2M; for lower middle market transactions ($2M-$50M), fees typically follow a Lehman or modified Lehman formula resulting in 3-6% of enterprise value
- Financing fees through Loans4Biz program (separate from brokerage fees)
CBI requires exclusivity on most engagements and typically works with businesses valued at $500,000 minimum, though their M&A advisory arm focuses on $2M-$50M enterprises.
Buyer Network
CBI Team has developed a sophisticated buyer network over 30 years of operation. The firm claims to have "identified many other prospective buyers" across virtually all industry sectors they serve, suggesting a database or CRM system for tracking buyer interests and qualifications.
The buyer network includes:
Individual Buyers: First-time business owners, serial entrepreneurs, and executives seeking business ownership. The Studio 24 transaction (sale to key employee) and Kidz in Motion transaction (sale to couple relocating from Texas) exemplify this category.
Strategic Buyers: Industry participants looking to expand through acquisition. The Hotworx Texarkana sale to a multi-unit franchise owner and McBride's Café sale to serial restaurant entrepreneurs represent this category.
Out-of-State Buyers: CBI has demonstrated ability to source buyers from outside Arkansas, including Texas (Kidz in Motion buyers) and other states. This geographic reach expands the buyer pool and can increase transaction values.
Search Funds and Private Equity: Through their CBI Advisory Partners arm and relationships documented on Searcher Insights, CBI works with search fund entrepreneurs and lower middle market private equity groups targeting $2M-$50M acquisitions.
Internal Transitions: CBI has expertise in management buyouts and internal transfers, as evidenced by the Studio 24 sale to a key employee. These transactions require unique structuring and often involve creative financing solutions.
The firm's Loans4Biz program creates a competitive advantage by having ready access to financing for qualified buyers, which can accelerate closings and expand the pool of financially capable buyers.
Competitive Positioning
CBI Team differentiates itself in several key ways:
Regional Dominance with Sophisticated Capabilities: As the largest business brokerage firm in Arkansas with four offices across three states, CBI has unmatched local market knowledge combined with institutional-quality M&A processes. This positioning allows them to serve both simple main street transactions and complex lower middle market deals.
Integrated Services: The combination of brokerage, M&A advisory, financing (Loans4Biz), and value building (Certified Value Builder) creates a full-service offering that few competitors can match. Sellers can work with one firm from exit planning through closing.
Longevity and Track Record: With 30+ years in business and approximately 800 transactions closed, CBI has navigated multiple economic cycles, including the 2008 financial crisis and the COVID-19 pandemic. This longevity creates credibility with both sellers and buyers.
Specialized Practice Expertise: Carl Grimes' focus on dental and orthodontic practices creates a niche advantage. Sellers of professional practices often prefer specialists over generalists, and CBI's "well over a dozen" practice sales gives them significant market share in this segment.
Confidentiality Focus: The firm's name—Confidential Business Intermediaries—reflects its core value proposition. Many business owners, particularly in smaller markets where word travels fast, prioritize confidentiality to avoid employee anxiety, customer attrition, and competitive advantage loss during sale processes.
Multi-Office Footprint: With offices in Springdale (HQ), Little Rock (Central Arkansas), Tulsa (Oklahoma), and Memphis (Tennessee), CBI has geographic coverage that allows brokers to develop deep local relationships while sharing deal flow and buyer networks across markets.
Affiliations: CBI maintains affiliations with the International Business Brokers Association (IBBA), M&A Source, and the Arkansas State Chamber, demonstrating commitment to professional standards and industry best practices.
Not a Fit If
Based on their stated focus and observable deal patterns, CBI Team is likely not a fit for:
- Businesses under $500,000 in value (below their minimum threshold)
- Startups or early-stage companies without operating history
- Distressed businesses requiring turnaround expertise (unless operational improvements are feasible pre-sale, as demonstrated by Hotworx Texarkana)
- Technology or SaaS businesses requiring specialized valuation expertise (their focus is traditional main street and lower middle market companies)
- Businesses outside their geographic focus (Arkansas, Oklahoma, Tennessee, Missouri, surrounding areas) unless the opportunity is exceptional
- Sellers seeking limited processes or wanting to bypass buyer screening (CBI's value is in comprehensive buyer outreach)
- Transactions requiring heavy investment banking capabilities (public company M&A, cross-border mergers, highly regulated industry sales requiring specialized legal/compliance expertise)
Team
CBI Team has approximately 15-20 professionals across four offices, including:
Leadership:
- Jon Holbert, CEO: Managing partner who acquired the firm in 2011, has led significant expansion including the Tulsa office acquisition
- Kelly Tivis, CFO: Manages processes and procedures across four offices in three states, oversees Loans4Biz financing program
- Carl Grimes, Founder & Chairman: 40+ years experience, personally involved in 850+ transactions, specialist in dental/orthodontic practice sales
Market Area Presidents:
- John Sherrill, Tulsa: Lifelong Oklahoman, born in Tulsa and raised in Owasso
- Kelvin Woods, Memphis: Described as "dynamic entrepreneur and dedicated community advocate"
- Carl Grimes, Central Arkansas: Also serves as Market Area President for Central Arkansas region
Executive Business Brokers (Northwest Arkansas):
- Dave Godwin: Executive Business Broker & Strategic Growth Advisor, focus on lower middle market M&A transactions
- Carol Gresham: Licensed real estate broker in Arkansas since 1986, one of the firm's most productive brokers with multiple restaurant and franchise sales
- John Green: 30+ year career in finance industry before joining CBI
- Charles Rateliff: Independent advisor guiding business owners through growth, mergers, acquisitions, and exits
- Marty Buchanan: Described as "accomplished executive and business leader"
Business Brokers:
- James Quick: Represented seller and buyer in Studio 24 transaction
- Rachael Driggs: Focuses on confidentially helping people sell and buy businesses
- Gary Schiefelbein: Business broker assisting with confidential transactions
- Bill Lytle, Carmen Eagles, Evan Wilson, Christopher King: Business brokers serving Tulsa and other markets
The team structure reflects CBI's approach: senior executives with deep experience provide oversight on complex deals, while business brokers handle high-volume main street transactions. The geographic distribution allows local market expertise while maintaining consistent processes and standards across offices.
Geographic Coverage
CBI Team's primary geographic focus is the mid-South region:
Core States:
- Arkansas (headquarters in Springdale, additional office in Little Rock)
- Oklahoma (Tulsa office)
- Tennessee (Memphis office)
- Southwest Missouri
Office Locations:
- Springdale, AR (HQ): 2591 S 48th St, serves Northwest Arkansas market including Fayetteville, Bentonville, Rogers, Springdale
- Little Rock, AR: Serves Central Arkansas including the capital city and surrounding areas
- Tulsa, OK: 10830 E 45th St. Suite 305, serves Northeast Oklahoma
- Memphis, TN: Serves West Tennessee and surrounding areas
This regional concentration allows CBI to develop deep knowledge of local markets, regulatory environments, and buyer pools while maintaining enough geographic diversity to source buyers from across state lines when advantageous.
The firm's affiliation with the Arkansas State Chamber and involvement in local economic development organizations suggests active engagement with regional business communities, which enhances deal sourcing and buyer network development.
Summary: Confidential Business Intermediaries (CBI Team) occupies a unique position in the business brokerage landscape: large enough to have institutional-quality processes and a multi-state footprint, but small enough to provide personalized service and maintain confidentiality as a core value proposition. With 30+ years of experience, approximately 800 transactions closed, and a team of 15-20 professionals across four offices, CBI has established itself as the dominant business brokerage firm in Arkansas and a key player in the broader mid-South region. Their evolution from traditional main street brokerage to sophisticated lower middle market M&A advisory—via CBI Advisory Partners—positions them to serve businesses at various stages of maturity and value. While they may not be the right choice for venture-backed tech startups or Fortune 500 corporate divestitures, for family-owned businesses, independent companies, and professional practices in the $500K-$50M range seeking a confidential sale with experienced local advisors, CBI Team represents a compelling option.