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Success Story: Cass Plumbing
Established in San Diego in 1948, Cass Plumbing (www.CassPlumbing.com) is one of the oldest plumbing contractors in Southern California. When the previous owner of the business mentioned that he would like to retire, long-time employee Jeremy Mundy jumped at the chance to buy the business and reached out to the SBDC to help make it happen. Through a number of sessions with his SBDC advisor, not only did Jeremy finalize the purchase of the company, but he also secured the capital to support the purchase including a $100,000 loan for working capital.
Use of Capital Infusion Funds
The financing was used to acquire the business and gain working capital.
Areas of Assistance
Obtained Financing
Financial Projections
Business Plan
Economic Impact
Capital Infusion: $450,000
Acquired Business
Location
San Diego, CA 92116
“I was presented with the opportunity to acquire the company where I have been an employee of over 19 years. The SBDC helped me throughout the financing process from start to finish including putting together a business plan and making connections to lenders, which resulted in obtaining the working capital I needed to make the acquisition possible.”
