The Nuts and Bolts of Renovating a Family Business

When Matt Woods joined his family business full time in 2011, he became the fourth-generation leader of an establishment that began in 1933. The Woods family had spotted an opportunity - no one else in Over the Rhine was serving urban dwellers who didn't want to walk far to shop. The shift proved a success, and when Matt joined the team, he and his parents decided to take the hardware aspect of the business to a new level.

The Challenge

Matt and his family had started the process of acquiring local hardware stores - Small's Hardware, with locations in Lockland, Cheviot, Harrison and Cincinnati's Roselawn neighborhood - but weren't sure how to execute the deal. Matt was not only spearheading the acquisition, but also the process of rebranding Acme Lock as Woods Hardware to reflect the family's larger holdings.

Working Through It

Dino helped with many challenges during the acquisition - running projections, approaching banks, and securing loan financing to make the deal possible. It took several months, and there were moments when the deal nearly fell apart entirely.

"Expectation levels were adjusted. He was very forthcoming. There were some points when we were about ready to pull the plug and he'd say 'just take a step back.'" Together, they pushed through and the sale was finalized in the fall of 2016.

A Legacy Business, Ready to Move On

Butch had been part of the family business since high school, graduated from Xavier in 1972, and eventually bought the company from his parents with his sister Mary Jo in the early eighties. They built it into a 35-bus, 17-coach operation serving Western Hills. But by 2014, things had changed. "The rules and regulations. The environment. It started to feel like I was in the way of progress. The business eventually became 24-7 and I think that's what eventually just beat us up."

Finding the Right Advisor

Butch looked at business brokers, but couldn't be sure they'd understand his business or truly have his best interests in mind. His UBS financial advisor had someone in mind - Dino Lucarelli. "He had a background as a CPA. Unlike a business broker - you don't know how much background they have. He is more than a salesman. He puts the numbers together."

When they first met with Dino, his sister Mary Jo - a good judge of character - felt comfortable immediately. "He did some projections and left us thinking, really? We didn't think it was worth that much."

Finding the Right Buyer

Dino matched the Klugs with Aaron Haid - young, entrepreneurial, Fortune 500 background. "He knew Aaron was looking for a business. He's young, he's got that entrepreneurial spirit. That's what you need in today's world." Aaron came to work alongside Butch for several months before the sale was announced, so the transition wouldn't be a shock to the staff.

The Result

In the end, the Klugs received more than twice what other estimates had suggested - thanks to Dino's valuation approach and negotiating strategy. "From the time we decided until the time we closed the deal, it took a little over a year. When we signed those papers, and Dino was so instrumental in that, it was like this great weight was taken off my shoulders. It was wonderful. Wonderful."

Aaron Haid has since more than doubled sales. Butch, meanwhile, is enjoying life after Klug Buses - restoring classic cars, having coffee and the paper on Sunday mornings, and relishing the ride he worked 45 years to earn.

From Corporate Ladder to Entrepreneurship

Geoff Kuzio had spent his career in large corporate settings - executive roles at PepsiCo and Campbell Soup. On his 40th birthday, he decided to make a change. A friend who had previously bought a business with Dino's help made the introduction. They sat down, built a rapport, and decided to work together.

A Two-Part Role

Dino's role was twofold. First, he helped Geoff define what he was looking for: industry, size, risk tolerance, available capital for a down payment. From there, he used his contacts to find opportunities. UTS wasn't the first company they looked at - it was the third. Dino helped Geoff differentiate what worked and what didn't.

Why UTS Was the Right Fit

"It was the combination of a number of things. First, it was the financials - they were strong from the beginning and we believed there was growth opportunity. Also, it was important for me to be a part of our community." UTS transports about 3,200 of the most vulnerable citizens across nine counties - special education kids, adults with Medicaid, veterans, and others.

Former owner Carolyn Burer stayed on as president while Geoff learned the business. "We share an office so that I can literally sit next to her and learn from her on a daily basis."

Getting the Deal Done

"Dino really delivered on understanding the financials behind the business. A lot of mid-sized companies don't keep the books in a way that you would at a Fortune 500 company - that's just the reality. He dug in to collect all the data and analyze it properly." With Dino's help, Geoff and his bank felt as confident as possible about the true value of UTS.

The relationship didn't end at closing. "It was an ongoing relationship - not just a transaction. Dino gave me a healthy perspective on what I should expect. He also helped with the transition team. I brought in a CFO, a new tax account team, new lawyers. He helped me understand what I should do the first 60 to 90 days."

Buying a business for the first time is not a search problem. It is a judgment problem, where the difference between a good outcome and a bad one is rarely obvious at the outset. That was the position Zach found himself in as he pursued his first acquisition in Cincinnati. After initially trying to start a business, he shifted toward acquisition as a more practical route. What became clear quickly was that identifying a business was only one part of the process. Evaluating it properly and getting it to the finish line required a different level of experience.

A Process Built on Judgment, Not Volume

Zach was introduced to Dino Lucarelli through two separate and trusted sources. From the outset, Lucarelli's role was not simply to present opportunities - it was to filter them. Several businesses and broker-led opportunities were reviewed and ultimately declined, either due to weak financials or concerns around the underlying quality of the business. There was no pressure to move for the sake of momentum. The objective was to avoid forcing a transaction where the business itself did not warrant one.

As Zach noted, "I brought several deals to him through brokers, and he advised against all of them. They weren't strong businesses to buy."

Recognising the Right Opportunity

When OHI was presented, it did not match every original preference. By that stage, however, the process had already clarified an important truth: in acquisition, rigid criteria often need to give way to sound judgment. The business operated in electrical services, a sector with durable demand and limited exposure to disruption. It showed healthy underlying fundamentals, but also clear room for operational improvement. Lucarelli's financial diligence confirmed that distinction.

Getting the Deal to the Finish Line

Finding the right business is one part of an acquisition. Closing it is another. For a first-time buyer, this is often where deals begin to weaken - communication becomes uneven, ego enters the process. According to Zach, this is where Lucarelli's value became particularly clear. "He's really good at talking through these things and telling the clients not necessarily what they want to hear, but what needs to be said to figure out the truth on both sides and get things to the next step when things get unclear."

Fit Was More Than Financial

The transaction worked because alignment went beyond numbers. The sellers wanted the business to continue creating opportunity for employees. Zach's approach to ownership - focused on long-term employee development, retention, and growth - gave the sellers confidence in who the business was being handed to. That alignment reduced friction on both sides and gave Zach a stronger foundation from which to step into ownership.

Outcome

The acquisition closed within a relatively short timeframe for a first-time buyer, providing Zach with a healthy business and a clear platform for growth. Since closing, the business remains stable, demand remains strong, and the transition is progressing as expected. As Zach put it, "He was most effective when he was able to manage the conversations and guide how communication was handled."

Selling a founder-led business is not simply a transaction. It is a controlled process that requires discretion, alignment, and a clear understanding of what happens after the deal is done. That was the position Erin found herself in as co-owner of a well-established electrical business in Cincinnati. With a team of approximately eighteen employees, any indication that the business was for sale had the potential to create internal disruption. Traditional routes - broad listings or multiple intermediaries - introduced exposure she could not control.

A Process Built on Control, Not Momentum

The introduction came through Dino Lucarelli's team. Unlike typical broker outreach, their approach is targeted and deliberate, engaging only where there is a clear fit. From the outset, Lucarelli did not treat the situation as a transaction to accelerate. Financials were validated, assumptions were tested, and positioning was assessed without any push toward a deal. There was no attempt to create urgency. The objective was to establish what was real and whether a credible opportunity existed at all.

Clarity Without Pressure

Lucarelli's role throughout was defined by clarity. Strengths were outlined, but so were the issues that affected valuation. Conversations were direct and grounded in reality - and that information was not used to drive a particular outcome. Erin was given a clear view of where the business stood and what could change over time. The option to wait remained as valid as the option to proceed. Instead of being guided toward a decision, she was given the context to make one properly.

Fit Was Treated as a Requirement

Before any formal commitment, Lucarelli prioritised alignment between seller and buyer. He facilitated direct interaction with the prospective buyer - Zach - early in the process. The focus was on how the business would be run post-transaction, not just whether a deal could be completed. Zach's approach centred on continuity: the existing team would remain intact, the structure of the business would be preserved, and future growth would be shared. That alignment removed a significant layer of risk and gave Erin confidence in who the business was being handed to.

Execution Without Friction

By the time the transaction reached its final stage, there was little left to resolve. Expectations were aligned. The structure was understood. Each party knew what they were stepping into. External conditions on the day of closing were far from ideal, but internally the process remained controlled. The groundwork had already been done - the result was not just an efficient closing, but a predictable one. His team, including Margot, supported the process through consistent communication and availability throughout.

Outcome

The transaction achieved its financial objectives and preserved stability within the business, establishing a clear path forward under new ownership. As Erin put it, "I would 100% recommend Dino. His attention to detail, his availability, and his focus on making sure both sides benefit puts him far above." In transactions of this nature, the outcome is not defined by whether a deal closes - but by whether it holds up after it does.