ROI Advisors Inc. Research
Advisory Approach
ROI Advisors Inc., operating as ROI Corporation, is a Massachusetts-based business brokerage and M&A advisory firm founded in 1997 with over 27 years of experience in facilitating business transactions and ownership transfers. The firm's thesis centers on combining deep industry expertise with structured transaction processes to maximize value for both business sellers and buyers. ROI believes that selling a business requires more than just finding interested parties—it demands thorough preparation, professional presentation, and strategic buyer targeting to unlock the true value of a company.
The firm's sweet spot is middle market transactions in the $1M-$50M range, where they specialize in helping business owners achieve optimal outcomes through methodical deal structuring. ROI's approach emphasizes data-driven decision-making, careful buyer qualification, and navigating complex regulatory requirements. They operate with a commitment to education, integrity, and operational excellence—principles embedded in the firm's culture from founder Gary Rayberg's philosophy that "education is the cornerstone of ROI's competitive edge."
Sector Focus
ROI has developed deep specialization across manufacturing, distribution, HVAC/mechanical services, healthcare practices, and service-oriented businesses. Within manufacturing, they serve both discrete manufacturing (job shops, precision assembly, contract manufacturing) and process manufacturing (food products, specialty chemicals, building products). The distribution and logistics practice focuses on wholesale companies, freight forwarding, and specialized logistics providers. Their HVAC practice is particularly mature, having completed multiple transactions in heating, cooling, and plumbing services across New England. Medical and dental practices represent a growing segment, with dedicated expertise in practice management, valuation, and regulatory compliance specific to healthcare businesses.
Their service company practice extends to restaurants, food service operations, automotive services (including automotive franchises), staffing, and professional services. This diversified industry focus is reflected in their board presence and community involvement—for example, Gary Rayberg served as President of the New England Business Brokers Association and helped establish the Business Brokers Alliance of New England.
Deal Track Record
ROI has completed transactions in over 30 states since 1997, with active recent deal closings demonstrating sustained deal-making capability. Recent transactions include: the 2024 sale of a Meineke Car Care Center franchise and Shrewsbury Auto Inspections (non-transferable inspection license, franchise buyer qualification, lender pre-qualification); the 2023 sale of Atlas Motor Express, a Boston-area less-than-truckload (LTL) trucking and consolidation company, to Laconia Best Warehousing and Distribution; the 2023 sale of Whiteface Hollow, an award-winning wedding venue and vineyard estate; the 2019 sale of R.W. Bruno (HVAC mechanical contractor, 22 employees, founded 1967) to GEM Plumbing & Heating; the 2021 sale of Wilson Brothers HVAC; the 2018 sale of Morris HVAC in Ipswich; and the 2017 sale of Middlesex Cooling to Cotti-Johnson HVAC.
The firm notes involvement with businesses completing transactions in industries including manufacturing (manufacturing job shops, food processing equipment), distribution (wholesale, logistics, freight), HVAC (installation and service), dental practices, medical practices, restaurants, staffing firms, and automotive services. While specific aggregate deal statistics are not published, the breadth of transactions across 30+ states and multiple vertical sectors indicates a mature, actively-working practice.
Process & Fee Structure
ROI's process differs between their "main street" division (smaller businesses under $1M) and middle market M&A division ($1M-$50M). For middle market M&A, the process emphasizes three steps: buyer identification and targeting before marketing, business preparation through detailed Confidential Offering Memoranda that explain the "back story" and competitive advantages, and orchestration of a competitive bidding environment with predetermined offer deadlines.
For sellers, ROI offers a "Value Maker System" to identify value-creation opportunities before sale, family succession planning, minority or majority sales to private equity or investor groups, and specialized franchise sale support. For buyers, they provide acquisition search services with dedicated search teams to identify synergistic targets and navigate buyer financing, franchisor pre-approval, and regulatory requirements.
Fee structure information is not explicitly published, but the firm mentions retainers credited against success fees and success fees tied to transaction value (typical in the LMM space). They also conduct business valuations and provide consulting services for internal transactions (family transfers, management buyouts) and structured deal analysis.
Buyer Network
From deal history, ROI has relationships with strategic acquirers and financial buyers across industries. Known buyers include Laconia Best Warehousing and Distribution (logistics), GEM Plumbing & Heating (family-owned HVAC/plumbing services with 250+ employees), Cotti-Johnson HVAC (regional HVAC services), and individual owner-operators transitioning from other ventures. They also facilitate franchise buyer qualification and financing with multiple bank relationships (notably mentioned: pre-qualifying businesses with multiple banks for franchise sales).
The firm is a member of M&A Source, the nation's largest association of M&A advisors, and operates in partnership with Denis Mezheritskiy (President), who previously owned and grew the Produce Company of New England and Moving Forward Physical Therapy. This operator background informs buyer network development.
Competitive Positioning
ROI differentiates through: (1) Deep industry expertise—many brokers are former business owners who understand operational challenges firsthand (Tom Boyd ran a $7M trucking company for 30 years, Dan Touhey grew PSI 91 to $14M in sporting goods); (2) Regulatory and structural sophistication—they navigate complex requirements like franchise franchisor approval, non-transferable licenses (e.g., Massachusetts emissions testing), SBA lending, and state-specific regulations; (3) Multi-state capabilities—offices in Massachusetts, New Hampshire, Maine, Connecticut, and Georgia allow national transactions; (4) Dual model—main street brokerage and middle market M&A divisions serve different deal sizes and sophistication levels; (5) Process rigor—emphasis on pre-qualification, multiple bank relationships, and competitive bidding processes to maximize outcomes.
Founder Gary Rayberg holds the rare M&AMI (Mergers & Acquisitions Master Intermediary) credential, awarded to fewer than 150 M&A professionals worldwide based on education, transactions, and peer review.
Not a Fit If
ROI typically focuses on businesses $1M-$50M. Smaller businesses under $1M are better served through their main street brokerage division. The firm avoids complex distressed situations, pure asset sales without going-concern operations, and situations with significant pending litigation or regulatory issues.
Team
Gary Rayberg (Founder, CBI, M&AMI) started 7 companies, brokered business transactions in 30+ states, and leads the firm's M&A practice. Denis Mezheritskiy (President) transitioned from operating produce distribution and physical therapy practices. Key brokers include Tom Boyd (transportation, distribution expert; built $7M trucking company), Don Buehler (restaurant, franchise specialist; operated 6 McDonald's franchises), Dan Touhey (sports/distribution background; founded PSI 91, $14M revenue), Joe McGrath (food service expertise), Peter Spanos (VP NH Sales; 40+ years hospitality, served in NH legislature), Joel Nimar (technology reseller, computer maintenance background), and Jonathan Ghrist (construction, real estate, investor background). Lyn Triffletti leads the Medical Division with 33+ years healthcare industry experience. Attorney Arthur Cormier joined as M&A intermediary.
Geographic Coverage
Primary: Massachusetts, New Hampshire, Rhode Island, Connecticut, Maine. Secondary: Georgia (Atlanta office serves Southeast specializing in manufacturing and distribution). National scope with transactions in 30+ states.
Financial Profile
RocketReach estimates ROI Corporation at $3M revenue with 19 employees. Founded 1997, privately held, transferred ownership from Gary Rayberg (founder) to Denis Mezheritskiy (current president) in October 2022.