Viking Mergers & Acquisitions
4 Herman Ave Ext, Suite C
Asheville, NC 288003
Art joins the Viking Mergers and Acquisitions team to assist with developing a presence in the Asheville, NC and upper South Carolina markets. He brings firsthand experience and knowledge in the process of business acquisition since Viking has sold two of his businesses over the past sixteen years.
Art started his career as a mathematics teacher after graduating from Mars Hill University. He and his wife Pat both taught in Western North Carolina. In 1982, Art was one of four teachers in the state invited to teach for a year at the North Carolina School of Science and Mathematics in Durham, NC. While in Durham, he was involved in research on how to effectively implement the addition of the new personal computer into the educational process of our children. After returning to one of the smallest counties in the state, he led in the addition of the PC as a valuable tool in the educational process. After nine years of marriage, Art and Pat’s first and only child, Heather, was born.
After 13 years, Art left the education sector and spent three years selling insurance and securities for a national insurance company. He held the principle securities license for the firm in Western North Carolina. In addition to sales, he recruited and trained new agents while teaching a required insurance licensing course for the area.
In 1987, Art started a cable construction company that soon grew to be the primary contractor for the cable TV industry in Western North Carolina. The company expanded the cable presence in the county surrounding Asheville, NC while doing all the maintenance, in home installations, building of a fiber backbone and the first in home installation of internet service via cable in the area. Art had hands on every aspect of the business, which had more than fifty employees and subcontractors. In 2000, Viking Mergers and Acquisitions sold the company.
In 2003, Art and a partner started a manufacturing company producing refrigerators, freezers and incubators for the laboratory. Art was the CFO for the company and was responsible for all the financial needs. He personally did all accounts receivable, accounts payable, shipping, payroll, insurance and tax reporting, The Company grew quickly and plateaued in 2010. The national economy resulted in a slight downward trend for the company. Again, Viking Mergers and Acquisitions came to the rescue. The company was sold for cash at 95% of the asking price within thirty days.
Valuable lessons were learned throughout the business ownership and sales process. The biggest lesson learned is that “timing is everything” along with the importance of a clear exit strategy for any business from the beginning. He understands the joys and frustrations of business ownership.
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