The CBI Team Research
Advisory Approach
The CBI Team (Confidential Business Intermediaries) is a full-service business brokerage and advisory firm serving the lower middle market for over 30 years. Founded in 1994 by Carl Grimes, the firm operates on a clear thesis: successful business transitions require confidentiality, comprehensive buyer networks, and institutional-quality process management adapted for smaller businesses. The firm has completed nearly 900 transactions across four states, establishing deep regional expertise in the Arkansas, Oklahoma, Tennessee, and Missouri markets.
The firm's approach emphasizes preparation before market entry—helping owners understand accurate valuations, prepare their businesses for sale, and identifying the right buyers rather than simply finding any buyer. With a database of nearly 10,000 buyers amassed over three decades, CBI Team leverages proprietary tools including the CAP (Confidential Auction Platform) auction system and BORSA (Business Owner's Retirement Savings Account) financing solutions to facilitate deals that might not otherwise close.
Sector Focus
The CBI Team maintains broad industry expertise across the lower middle market, with particular strength in several sectors:
Healthcare Services: The firm has facilitated over 20 dental practice sales, establishing a repeatable process for healthcare transitions. Recent transactions include Benton Family Dentistry sold to Dr. Lance Porter (2024), Ward DDS with two Arkansas locations acquired by a Kansas City dentist (2018), and Cassville Family Dental (Missouri). The team also handles veterinary practice sales, including Poteau Valley Veterinary Hospital after nearly five decades of operation.
Manufacturing & Industrial: CBI Team has deep experience in manufacturing exits, including precision fabrication, cabinetry, irrigation systems, and industrial components. Recent deals include Miller Irrigation and Landscape Lighting sold to South River Capital (2024), Pender-Craft Cabinets acquired by Specialty Cabinet Systems LLC (2024), Jet Stream Fabrication, Adams Truss, and a Northwest Arkansas industrial electrical sales & service business acquired by Midland Industrial Services.
Construction & Trade Services: The firm regularly sells roofing, collision, body shop, and construction-related businesses. Dave Godwin facilitated a lower middle market roofing industry transaction in 2024, along with historical sales including Arkansas Collision Center, Tanksley's Body Shop, and Red Barn Donuts.
Food & Beverage: Restaurant and franchise sales represent a significant portion of CBI Team's transaction volume. Recent deals include a successful franchise sale in Bentonville (2025), Marketplace Grill with two Springdale and Conway locations sold to Clean Plate Restaurants of Galveston, Texas (2018), Gooseberry Handmade Pies (2024), Project Lean Nation of Springdale (2024), The Wooden Spoon landmark restaurant in Gentry, and River City Bistro.
Business Services: The team handles insurance agencies, audio-visual services, logistics, and distribution businesses. Transactions include Westbrook Farmers Insurance Agency, Commercial Beverage Equipment, Postal Express, Carters Audio Video, United Cold Storage in Tulsa, Maverick Supply, and Cell Phone Repair of Northwest Arkansas.
Deal Track Record
With nearly 900 completed transactions since 1994, The CBI Team has established itself as the most active business brokerage firm in the Arkansas-Oklahoma-Tennessee region. Carl Grimes, founder and chairman, has personally been involved in over 850 business sales. The firm maintains a buyer database of nearly 10,000 prospective buyers accumulated across three decades of dealmaking.
Recent closed transactions include:
- Miller Irrigation and Landscape Lighting sold to South River Capital, LLC (2024)
- Pender-Craft Cabinets acquired by Specialty Cabinet Systems LLC (2024)
- Benton Family Dentistry acquired by Dr. Lance Porter (2024)
- Franchise business in Bentonville sold to food industry buyer (2025)
- Roofing industry lower middle market transaction (2024)
- Gooseberry Handmade Pies (2024)
- Project Lean Nation of Springdale (2024)
- Adams Truss
- Maverick Supply
- Ward DDS (two Arkansas locations) acquired by Kansas City dentist
- Marketplace Grill (Springdale and Conway) sold to Clean Plate Restaurants
- Amerispec inspection service sold
- Jet Stream Fabrication
- Postal Express
- And hundreds more across manufacturing, healthcare, construction, retail, and business services
The firm's experience spans industries ranging from dental practices and veterinary hospitals to manufacturing, distribution, restaurants, retail, and business services. They have sold family businesses held for generations as well as privately held companies built by entrepreneur-owners.
Process & Fee Structure
CBI Team runs a structured sell-side process adapted for lower middle market businesses:
- Free consultation to evaluate business and discuss owner goals
- Business analysis and valuation using accurate methods rather than industry rules of thumb
- Customized sale plan based on owner timeline and market conditions
- Buyer identification through database of 10,000+ buyers and targeted outreach
- Confidential marketing with blind listings and qualified buyer screening
- Offer negotiation and due diligence support
- Closing coordination including financing solutions
The firm utilizes several proprietary tools:
- CAP (Confidential Auction Platform) for competitive bidding processes
- BORSA (Business Owner's Retirement Savings Account) allowing buyers to use retirement funds without tax penalties
- Loans for Business Program for SBA and acquisition financing
CBI Team operates as business brokers rather than FINRA-registered investment bankers, positioning them appropriately for sub-$10M enterprise value transactions. This allows them to serve the lower middle market efficiently without the regulatory overhead of broker-dealer registration.
Buyer Network
CBI Team maintains a database of nearly 10,000 buyers built over 30 years of transactions. This network includes:
Individual Buyers: High-net-worth individuals, entrepreneurs, and first-time business owners seeking acquisition opportunities
Strategic Buyers: Industry participants looking for add-on acquisitions, geographic expansion, or product line extensions
Private Equity: Lower middle market PE firms and search funds
Family Offices: Multigenerational wealth families acquiring businesses for portfolio diversification
The firm's geographic focus in Arkansas, Oklahoma, Tennessee, and Missouri creates natural buyer pools for regional consolidators. The CAP auction platform enables competitive bidding processes that maximize value for sellers.
Competitive Positioning
CBI Team differentiates through:
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Regional Dominance: Four offices across Arkansas, Oklahoma, and Tennessee provide deep local market knowledge and buyer relationships
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Transaction Volume: With nearly 900 completed transactions, the team has seen virtually every scenario and challenge in business sales
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Proprietary Technology: CAP auction platform and BORSA financing solutions provide competitive advantages
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Buyer Database: 10,000+ prospective buyers accumulated over 30 years creates unmatched dealmaking capacity
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Financing Expertise: Loans for Business Program and SBA relationships help transactions close that might fail elsewhere
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Confidentiality Focus: Business broker model (vs. investment banker) allows true confidentiality for small businesses where public disclosure could damage operations
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Industry Specialization: Repeatable processes for dental practices, manufacturing, restaurants, and other core sectors
Not a Fit If
CBI Team typically declines:
- Businesses above $10M enterprise value (better served by investment bankers)
- Public companies or large corporations
- Distressed assets or fire sales
- Businesses with significant undisclosed liabilities
- Owners unwilling to prepare their business for market
- Situations requiring investment banking services like capital raising or public offerings
Team
The leadership team combines decades of transactional experience:
Carl Grimes, Founder & Chairman: Founded CBI Team in 1994; personally involved in over 850 business sales; University of Arkansas graduate; Memphis native
Jon Holbert, CEO: Involved with CBI since 2011; Managing Partner of Northwest Arkansas office
Kelly Tivis, CFO: Manages processes and procedures across four offices in three states
Casey Grimes, Executive Business Broker: Market Area President for Central Arkansas; helping clients sell businesses since 2011; facilitated dental practice sales, manufacturing acquisitions, and service business transitions
Carol Gresham Miller, Executive Business Broker: Licensed real estate broker in Arkansas since 1986; decades of transactional experience
Dave Godwin, Executive Business Broker: Certified Business Intermediary; focuses on lower middle market M&A in manufacturing, construction, and industrial sectors
John Green, Executive Business Broker: 30+ year career in finance industry before joining CBI Team
Charles Rateliff, Executive Business Broker: Independent advisor guiding business owners through growth, mergers, acquisitions, and exits
Market Area Presidents: John Sherrill (Tulsa, Oklahoma), Kelvin Woods (Memphis, Tennessee), and regional leaders across Arkansas
The firm employs 15+ brokers across four offices, providing comprehensive coverage of the Arkansas-Oklahoma-Tennessee-Missouri region.
Geographic Coverage
Primary Markets:
- Arkansas (statewide): Northwest Arkansas, Central Arkansas, Fort Smith/River Valley
- Oklahoma (statewide): Tulsa and surrounding areas
- Tennessee: Memphis and surrounding areas
- Missouri: Southwest region
Office Locations:
- Springdale, Arkansas (HQ): 2591 S 48th St, Springdale, AR 72762
- Little Rock, Arkansas: 7825 Stagecoach Road, Little Rock, AR 72204
- Tulsa, Oklahoma: 10830 E 45th St. Suite 305, Tulsa, OK 74146
- Memphis, Tennessee: 6263 Poplar Ave #601, Memphis, TN 38119
The firm serves the entire states of Arkansas, Oklahoma, Tennessee, and Southwest Missouri from these four locations.