Fast-growing M&A firm buys new HQ near Innsbrook

Aaron Kroll, second from left, and Trey Cherry, second from right, started Sterling Point Advisors in 2018. (Photos by Stephanie Jenkins)

Sterling Point Advisors has emerged of late as one of the region’s fastest-growing companies by brokering an increasing number of M&A deals.

Now it has just closed a deal of its own.

The four-year-old firm last month bought a new headquarters at 3721 Westerre Parkway.

It plans to move into the 1,700-square-foot office condo next month after some light interior renovations.

Aaron Kroll, who co-founded the M&A advisory firm in 2018 with Trey Cherry, said they’d been searching for new digs while working from subleased space about a mile north at 4451 Cox Road in Innsbrook.

“We’ve been looking forever. We came to the conclusion, let’s do something that’s a good size for us right now. It’s kind of exactly what we need,” Kroll said.

Sterling Point Advisor’s new office was formerly a psychiatrist office.

After a slow start upon its founding, the 12-person firm has hit its stride over the last two years, handling deals involving privately held companies, representing both buyers and sellers. It has closed around 30 deals since its inception, ranging in price from $5 million to $50 million, with the firm taking a percentage of the sales price.

That momentum resulted in the firm landing atop this year’s RVA 25 list of the region’s fastest-growing companies, far outpacing the rest of the pack with 15,326 percent revenue growth from 2019-2021.

Kroll said it closed four deals in the last month, all veterinarian practices that were purchased by private equity backed buyers.

It also recently added an employee in Charlotte to work deals in North Carolina.

“We have a good strong number of deals closing in Q1” of 2023, Kroll said. “Next year, plans are to keep it growing and add to the team where it makes sense.”

Sterling Point paid $386,000 for the Westerre office. It purchased the space from Gaertner Realty, which was represented in the deal by Thalhimer’s Mark Douglas and Wilson Greenlaw.

Kroll said the office was most recently home to a psychiatrist office and prior to that a Forex trading firm that worked overnight investing in foreign exchanges.

Kroll said that previous tenant had an unusually nice shower installed in the space to help with the juggling of an overnight schedule.

“That, we’re keeping,” Kroll said laughingly of the shower, adding that other renovations will include converting a waiting area into a conference room.

Kroll said Sterling Point will continue to keep an eye out for a larger office at some point in the future as its growth warrants.

“It’s a good first office purchase,” he said.

Aaron Kroll, second from left, and Trey Cherry, second from right, started Sterling Point Advisors in 2018. (Photos by Stephanie Jenkins)

Sterling Point Advisors has emerged of late as one of the region’s fastest-growing companies by brokering an increasing number of M&A deals.

Now it has just closed a deal of its own.

The four-year-old firm last month bought a new headquarters at 3721 Westerre Parkway.

It plans to move into the 1,700-square-foot office condo next month after some light interior renovations.

Aaron Kroll, who co-founded the M&A advisory firm in 2018 with Trey Cherry, said they’d been searching for new digs while working from subleased space about a mile north at 4451 Cox Road in Innsbrook.

“We’ve been looking forever. We came to the conclusion, let’s do something that’s a good size for us right now. It’s kind of exactly what we need,” Kroll said.

Sterling Point Advisor’s new office was formerly a psychiatrist office.

After a slow start upon its founding, the 12-person firm has hit its stride over the last two years, handling deals involving privately held companies, representing both buyers and sellers. It has closed around 30 deals since its inception, ranging in price from $5 million to $50 million, with the firm taking a percentage of the sales price.

That momentum resulted in the firm landing atop this year’s RVA 25 list of the region’s fastest-growing companies, far outpacing the rest of the pack with 15,326 percent revenue growth from 2019-2021.

Kroll said it closed four deals in the last month, all veterinarian practices that were purchased by private equity backed buyers.

It also recently added an employee in Charlotte to work deals in North Carolina.

“We have a good strong number of deals closing in Q1” of 2023, Kroll said. “Next year, plans are to keep it growing and add to the team where it makes sense.”

Sterling Point paid $386,000 for the Westerre office. It purchased the space from Gaertner Realty, which was represented in the deal by Thalhimer’s Mark Douglas and Wilson Greenlaw.

Kroll said the office was most recently home to a psychiatrist office and prior to that a Forex trading firm that worked overnight investing in foreign exchanges.

Kroll said that previous tenant had an unusually nice shower installed in the space to help with the juggling of an overnight schedule.

“That, we’re keeping,” Kroll said laughingly of the shower, adding that other renovations will include converting a waiting area into a conference room.

Kroll said Sterling Point will continue to keep an eye out for a larger office at some point in the future as its growth warrants.

“It’s a good first office purchase,” he said.

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