Hoffmann family plans another Naples purchase: Signcraft Signs & Things

The Hoffmanns signed a letter of intent to purchase Signcraft Signs & Things, one of the oldest and most established sign companies serving businesses in Southwest Florida.

The Hoffmanns have plans to acquire yet another Naples business.

The family — the largest owners of commercial real estate in Naples — has signed a letter of intent to purchase Signcraft Signs & Things, one of the oldest and most established sign companies serving businesses in Southwest Florida.

The announcement comes on the heels of five other recent business acquisitions.

The Hoffmanns, through their private Osprey Capital LLC, also have bought Naples Transportation & Tours, Sunmaster of Naples, Adelheidi's Organic Sweets, Naples Princess Cruises and The Bevy, a popular downtown eatery off Third Street South. 

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"The diverse and extensive investments we have made in Naples reflect our belief in the great potential of our local business community," said David Hoffmann, founder and chairman of Hoffmann Commercial Real Estate.

"Naples offers opportunities in all types of industries, from retail to tourism to manufacturing and more," Hoffmann said in a statement. "We are excited to help grow the local economy in all sectors through directed, committed investment."

The family's latest target, Signcraft Signs & Things, dates back about 40 years. Established in 1978 as Signs & Things, the local company acquired Signcraft, a competing sign manufacturer, in 2011 and merged the two businesses.

The business is owned by Michael and Linda Boyd, who will stay on with the company. He will continue to serve as the company's president, and she will continue to work in the office. The Boyds' daughters have their own careers and aren't interested in taking over the business.

The Hoffmanns approached the Boyds about their interest in selling the business a few weeks ago. They made a "fair and competitive offer," Michael Boyd said.

The purchase price was not disclosed.

The business makes signs and handles permitting and installation, serving companies of all sizes. Its more well-known national clients include McDonald's, Burger King and Ford.

The business has been busier than usual, fixing and replacing signs hit by Hurricane Irma in September.

When the letter of intent was signed Friday, the sale was expected to close within 45 days.

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Michael Boyd said he liked the Hoffmanns' "whole business model." 

"They seem to run some real nice businesses," he said.

In a little over two years, the Hoffmanns' real estate company, with headquarters in St. Louis, has amassed almost 30 properties in the Naples area, valued at more than $300 million. Most of the buildings are clustered around Fifth Avenue South or Third Street South.

The family's investment in the Naples area has grown to more than $450 million with its purchase of local businesses.

Meanwhile, the family has several other buildings under contract in downtown Naples, including on Fifth Avenue South. Those deals are expected to close over the next few months.

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