In Ashland, VA, also known as the “Center of the Universe”, sits an industrial distribution business called Fulford Industrial. Their niche is large commercial doors and the companion materials, such as high-speed doors, warehousing repairs, pallet inverters, and loading dock equipment. Not only do they sell the doors – the company has highly specialized service techs that provide installation and maintenance for their products.
The new business owner of Fulford Industrial, Mid Middleton, is a second-generation business owner who has over 30 years of experience. His family business, Carolina Material Handling, sells equipment involved with storage and handling. Middleton’s company has been growing organically for years, but in order to meet his business goals, he knew the best bet was to acquire another company that would complement Carolina Material Handling. He found that in Fulford Industrial, as CMH did not previously distribute commercial doors.
Mid had this to say about his experience working with our team at FNB Small Business Finance:
“I really appreciate all the hard work and dedication that FNB Small Business Finance put into completing this loan. Although I was familiar with the program, this was my first experience going through the SBA loan process. They were extremely helpful and knowledgeable, and the deal went through in a timely manner. I would absolutely recommend FNB Small Business Finance to those looking to purchase a business with an SBA loan in the future.”
Since the loan closed in September 2018, Mr. Middleton has taken over as owner of Fulford Industrial. The transition has been very smooth, due in large part to the humble and open-hearted nature of the seller – who has stayed on board with the company for the time being. Mid is very grateful for all of the great things that have occurred as a result of this Business Acquisition loan. We can’t wait to see his businesses grow and thrive!