North Carolina Deals, Durable Trades, and the New SBA Reality

Our September Brief was going to focus on the burgeoning trades and services businesses on our beautiful North Carolina coast but life, travel and interview editing, got in the way.

The beauty of what we are doing here, at least for me, is that it is truly a passion project.

If we wanted the stress of deadlines and content delivery every day, we'd be working for an established publication with thousands of subscribers.

Maybe we get there one day, but for now, this is how we plan to roll. Substack style.

Anyway, as some of you may know, I used to work with RR Donnelley which at one time was one of the largest printers in the world. Think Heidelburg presses (or "iron," as we used to say), digital plating, ink on paper and, ultimately, physical delivery of printed matter.

And, although newspapers, magazines and physical books continue to decline in print volume, short run or promotional printing keeps growing as tactical marketing needs continue to require physical output. Office signage, new branding initiatives, fence screening, window coverage and vehicle wraps all require equipment and delivery.

According to ASI, North American promotional products distributors sold a record $27.7 billion in 2025. That's up 4.2% from $26.6 billion in 2024, and 2026 is expected to also show significant growth due to the overall economy and it being a midterm election year.

My son spent some of his summer learning the trade with Will Pittman over at SpeedPro Raleigh-Clayton (see owner spotlight in our July Brief) and there was no shortage of jobs to tackle. Local trades that help businesses deliver their message will continue to thrive.

I loved being in the printing business and I'm glad to see that there is a sub-sector that continues to grow.

Thanks for reading and spreading the word about PBNC!

David

Retirement-driven service businesses remain the clearest on-ramps for eager NC buyers this fall. In the Triangle, a Chem-Dry resale covering Hillsborough, Chapel Hill, and Durham is listed at $190,000 on about $371,000 in gross sales, with four vans and a seller heading into retirement after decades in the brand. Nearby, an established restoration and remediation franchise serving Raleigh-Durham, asking $1.45 million on roughly $666,000 in cash flow, moved under contract, a signal that insurance-backed “AI-resistant” operators are still clearing the market. For first-time buyers, the spread between a sub-$200k franchise resale and a seven-figure restoration platform is the real map: same region, very different equity checks.

When Neese’s Country Sausage left the founding family after more than 100 years, the risk was familiar: a legacy NC brand fades from grocery shelves. Instead, Raleigh-based Jesse Jones acquired the Greensboro company and kept stewardship local under the White family. Founded in 1917 by J.T. and Lillie Neese, the maker of country sausage, liver pudding, and liver mush had hit supply trouble that emptied shelves. Jesse Jones said recipes stay the same while production and packaging get rebuilt for distribution. For sellers weighing who should buy their life’s work, this is the quieter win: not the highest headline multiple, but continuity for customers, workers, and a brand that still tastes like North Carolina. Terms were not disclosed.

Up next quarter in our Ownership Spotlight, my friend Brett Cox of Puddle Pools in Raleigh.

Not every transition this year is a mom-and-pop handoff. Sheridan Capital Partners acquired Durham-based Carolina Components Group, a maker of single-use bioprocessing assemblies and bags used by more than 250 biopharma and contract manufacturers.
Founder John Cooling keeps equity and joins the board; Maurice Phelan, formerly of Sartorius, steps in as CEO. The deal sits higher on the enterprise ladder than most Pivot Brief readers will bid, but it matters for Main Street: PE is paying for recurring, regulated consumables tied to factory volume. When capital hunts durable NC industrials, valuations and buyer competition shift around the operators still selling local service businesses the old-fashioned way.

If you are buying or selling with a 7(a) loan this month, read the calendar. SOP 50 10 8.1 applies to applications that receive an SBA loan number on or after October 1, 2026; deals numbered by September 30 stay on the prior SOP. Appendix 15 now sorts acquisitions into four buckets: Initial Acquisition, Business Expansion, Owner Buyout, and ESOP/Co-op—each with its own coverage and equity rules. Industry briefings flag a 1.25x historical debt-service coverage test on most initial acquisitions, a non-waivable 10% injection on that category, and Quality of Earnings reports when purchase price hits $3 million. Projections no longer paper over weak history. Buyers: build the equity check early. Sellers: cleaner books now beat optimistic forecasts later.

Most NC acquisition talks still start with SBA 7(a): loans up to $5 million, change-of-ownership allowed, applied through a participating lender, not through SBA directly. On a classic initial acquisition, plan on roughly 10% buyer equity at the table.
Where sellers will hold a note on full standby, some structures can soften the cash injection, but standby terms and coverage tests are tighter under the new SOP.
Practical move before you tour another warehouse: ask whether the seller will finance part of the gap, whether that note is truly standby, and which NC-active 7(a) lenders have closed your industry lately. The listing price is the headline. The capital stack is the deal.

In Wilmington, Will Hardison of Creative Outdoor Solutions (and now Port City Hurricane Shudders) is making acquisition moves and building coastal spaces that feel as comfortable, and as safe, as they look. Since he will be featured in an upcoming Owner Spotlight, we wanted to point you in his direction as hurricane season is upon us.

Since pivoting, he's been "Throwin' Shade" down in the ILM for almost three years now!

In each brief, we publish an Owner Spotlight interview and a Trades in the Wild photo of your service vehicle in the field with branding and contact information on display. 

Both features include a company overview and a link to your business's website.
 
Our growing subscriber list includes passionate North Carolina citizens, professionals and homeowners. 

If you would like to highlight your NC service business in Pivot Brief, email us at hello@pivotbriefnc.com

Thanks for subscribing and reading. 

PBNC