Funk PharmacyDoug and Kathy Funk had been working toward retirement for a few years before they decided to enlist the help of KU’s RedTire program. The couple had already sold one of two of their businesses in Concordia, Kansas, and planned to sell their remaining business, Funk Pharmacy, to a couple of their associates. After months of discussions, that plan became unworkable. Fortunately, RedTire connected them to other interested buyers, Robb and Meredith Rosenbaum, and following six months of negotiations and a move from Shawnee to Concordia, the Rosenbaums took ownership of Funk Pharmacy on July 1. “I’m very glad it worked out the way it did,” said Doug Funk, a former president of the Kansas Pharmacists Association. “RedTire was a real service to us — it was nice having someone removed a bit from the situation screening people. It took away some of the anxieties of talking to potential buyers.” Read more about Funk Pharmacy
Duis Meat Processing Inc.Ryan Swenson had been looking for opportunities to move back to his hometown of Concordia when he found a listing for an agricultural business on the RedTire website. A month later, he was in contact with Kieth “Toby” Duis, owner of Duis Meat Processing Inc., with locations in Concordia and Salina, and began the process of becoming the business’ new owner. “RedTire allowed me to come home,” Swenson said. Duis, who is a few years away from retiring, will continue to work for the business. He said he’s glad he started planning ahead for his retirement and will be able to help Swenson grow the business. “I’m very thankful we found RedTire,” he said. “I’m not sure I could even put a value on what they’ve done for us.” Read more about Duis Meat Processing Inc.
Yates Center Dental LLCSteve Epler had seen many fellow dentists in rural areas simply shutter their practices when they retired. “Honestly, I always figured there was a fair chance I would eventually shut my doors.” But with the help of RedTire, Epler transitioned his dental practice, now known as Yates Center Dental LLC, to Matthew Standridge. The RedTire team conducted a valuation of the business, outlined the succession steps and kept the process moving. “It’s amazing how much work goes into selling a medical or dental practice,” Epler said. “We are still working on some paperwork.” Epler has recommended RedTire to friends who may be interested in selling their practices in the future. He said the fact that RedTire is a free service is a major benefit to rural professionals looking for successors. Read more about Yates Center Dental LLC.
Kansas Publishing VenturesPublisher Joel Klaassen already had the perfect successors in mind when he started thinking about retirement. He had met Joey Young, a Hutchinson Community College alumnus, and Lindsay Young, a Bethel College alumna, when the couple was searching for advice after purchasing a different publication. Klaassen contacted the RedTire program for help with the transaction, and with their assistance, the deal was finalized in April 2014. “If we would have had to broker this on our own, we would’ve had a mess,” Joey said. Klaassen will continue working with the company for three more years to guarantee a successful transition. Read more about Kansas Publishing Ventures.
Flint Hills Veterinary HospitalIn February 2014, RedTire matched retiring veterinarian Casey Thomas with Julie Ebert, a Kansas State University alumna and fellow doctor of veterinary medicine. According to Thomas, "RedTire took us from a place where we didn't know each other, didn't know much about the sale, to where we were ready to make the agreement formal. I truly believe that, without RedTire, this deal would have never happened." Read more about Flint Hills.