Michael N. Palm, Sr. joins Coldwell Banker Commercial Business Brokerage Group after 28 years of extensive background and experience in the private business environment.
His experience includes growing his own 3rd generation family foodservice equipment and design business, Palm Brothers, from $3M in 1984 to $30M in 2000 and completed a roll up of seven similar companies creating a $200M national distribution company.
Since 2000, Mike has financed, acquired and sold over $60M of his businesses he has personally owned providing him unique insights into the issues faced by business owners looking to purchase and/or sell in today s economy. He has served on the Board of Directors of the National Association of Truckstop Operators (NATSO) and the Food Service Equipment Distributors Association (FEDA).
During his recent two years as a Business Broker/Agent, from 2009-2011, with Calhoun Companies, Mike sold over $50M of a wide variety of businesses including liquor stores, convenience stores, truckstops, distributorships, motels, resorts, restaurants, and sports teams.
Mike was recognized as the Top Listing Group and Top Individual Producer for 2010.
His many years of ownership, operations, acquisitions provide his clients with real life experience to provide necessary advisory during the complex buy or sale process.
Mike and his wife Shannon of 26 years, have 4 boys (including Michael Jr (25) who works as an associate with him at Coldwell Banker Commercial Business Brokerage, Trent (22) who plays college hockey for the UMD Bulldogs, Chris (19) and Ryan (19) who play hockey for the Duluth Clydesdales in the Canadian Junior A SIJHL League) and resides in Wayzata, MN. Mike has served on the Board of Directors of the Minneapolis South Young Life Youth Ministry Outreach and earned his Business Degree from Arizona State University.
