News Release | Contact: Kent Kaiser 651-338-1777
Business Serves Wisconsin with Offices in Appleton, Green Bay, & Wausau
MINNEAPOLIS, Minn. – November 10, 2021 – Sunbelt Business Advisors President Chris Jones today announced that Sunbelt facilitated the sale of Tongxeng Personal Home Care of Wisconsin to Mai Vang of St. Paul, Minnesota. Led by Business Brokers Michael Hubsmith, Rich Kelm, and Wes Winnekins, the Sunbelt team initiated, structured, and negotiated the transaction. The transaction was financed through the Small Business Administration with the help of Sunbelt Director of Finance Tom Stadler. The deal closed on September 30.
Tongxeng Personal Home Care (https://www.tongxenghomecare.com/) was established in 2005 and employs approximately 150 people whom Vang has retained in the acquisition. It is a specialized personal care agency serving Wisconsinites who require care in the comfort of their homes and who need help with activities of daily living and medically oriented tasks.
“I’m excited to bring more than ten years of healthcare administration and human resources experience to this new venture,” said Vang. “I strongly believe in Tongxeng’s mission of service and care. I look forward to using my expertise to grow Tongxeng and take it to the next level. My goal is to carry on Tongxeng’s tradition of high quality care with compassion, and uphold our commitment to the highest level of accountability and integrity for our clients and staff.”
“The previous owners of Tongxeng Personal Home Care decided to focus on other businesses and pursuits, which presented an opportunity for Mai Vang,” said Jones. “We’re honored to have been involved in the transaction—this is a great mainstreet enterprise serving an important purpose, and it will benefit from Mai Vang’s leadership.”
ABOUT SUNBELT® – Sunbelt® is Minnesota’s largest seller of companies. Founded in 1978, Sunbelt now has 200 offices worldwide, helping people buy and sell businesses. The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 50 advisors, associates, analysts, and business development representatives. The firm provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advisement for business owners in understanding how to maximize their net proceeds when they exit. The firm provides business brokerage and Mergers & Acquisitions advisory services for companies with revenues from $500,000 to $100 million, as well as finance, exit planning, franchise sales, consulting, and business valuation services. More information is available at www.sunbeltmidwest.com.
