Taking Portable Sinks to New Heights: How This Couple is Building a Thriving Family Business Through ETA

Dana and Ray Chery

For Ray Chery and his wife Dana, entrepreneurship has always been in their DNA.

Both grew up in families where business ownership was a way of life—Ray in a Haitian household in Boston, surrounded by relatives who owned bakeries and storefronts, and Dana in a Jamaican family in New York where entrepreneurship was equally prevalent.

They often discussed owning a business together, tossing around ideas over the years, but nothing quite took hold.

Despite their early exposure to entrepreneurship, Ray and Dana initially took more traditional career paths. Ray built a career in financial services, beginning in corporate banking. He attended the University of Chicago’s Booth School of Business, where he studied finance and accounting, and graduated in 2011 before moving into investment banking and investor relations. Meanwhile, Dana carved out a career in marketing, studying at Northwestern’s Kellogg School of Management along the way.

After fifteen-plus years in their respective fields, Ray’s career took an unexpected turn when he left his corporate role. Rather than immediately reenter the corporate world, he paused to reflect. Those long-standing conversations with Dana about entrepreneurship resurfaced.

“Dana and I would always talk about how cool it would be if we owned a business together, so when this opportunity came up, it felt like the right time to pursue it,” said Ray.

Instead of jumping into another financial services role, Ray began researching entrepreneurship through acquisition (ETA). He began discussing with friends in the ETA ecosystem, read industry staples Buy Then Build and The HBR Guide to Buying a Small Business, and listened to podcasts on acquisition entrepreneurship.

Increasingly sold on the idea, he began reaching out to business brokers.

The Search for the Right Business

Ray and Dana approached ETA with a clear set of criteria: the business had to be enduringly profitable, located near their home, and run by a retiring owner, which to them indicated stability. Over six months, they reviewed more than 300 companies, speaking with brokers and sellers to refine their search.

One day, they found a business that matched all their criteria – Monsam Portable Sinks, a company that designs and manufactures portable sinks, food service carts, mobile science lab workstations, and other specialty products. They reached out to the broker, who connected them with the business owner. The very next day, Ray visited the facility to meet in person.

During this conversation, the two immediately felt a connection. Monsam was founded by a husband-and-wife team who had immigrated from Egypt. In the midst of successful corporate careers, they decided to build a business together. This story resonated strongly with Ray and Dana. The connections didn’t stop there – the company name itself is a portmanteau, a combination of the founders’ children’s names; Ray and Dana’s previously formed LLC is a combination of their own children’s names. This shared passion for family-focused entrepreneurship laid the foundation for a strong relationship between the two couples.

“This is a family business, and the opportunity to hand it off to our family specifically appealed to them and created a lot of synergy between us,” said Ray. “We led with respect and appreciation for the business they’ve built and told them that we didn’t want to make any drastic changes, rather we wanted to expand on what they’ve already built to usher in the next phase of growth for the company.”

“That resonated with them,” Ray continued. “The fact that we’re a husband and wife doing it together, combined with our strong business plan, reassured them that they were leaving it in good hands.”

Beyond the emotional connection, Monsam met the Cherys’ acquisition criteria. It had been in business for 26 years, delivered a uniquely practical product, served over 10,000 customers, and had a diverse client base spanning education, childcare, hospitality, healthcare, and more. Ray started to spend more time at the facility, connecting with the owner, studying the manufacturing process and learning the ways of the business. With each passing day, the owners and the Cherys became more certain this was the right path forward.

Ultimately, after three months of diligence, they closed the acquisition in May 2024.

The Transition and Growth Strategy

Post-acquisition, Ray and Dana took a hands-on approach to the business. For the first six months, they immersed themselves in operations – cutting materials, assembling units, and processing orders, working alongside the technicians and administrative staff. They wanted the employees to see them as teammates, not just the new owners.

At the same time, they saw opportunities to enhance the brand. They revamped the company logo and website to modernize Monsam’s image and improve its market presence. Outreach efforts have focused on reconnecting with previous customers and identifying new opportunities within core target markets.

Operationally, they tackled inefficiencies in outdated workflows and disconnected systems. With a vision for expansion, they focused on refining processes, ensuring scalability, and driving sales through strategic marketing and trade show attendance.

And their efforts are already paying off. The revamped brand has started to take hold, and they have won back old customers, while also acquiring new ones.

“Next for us is expansion, and we’re really excited about it,” said Ray.  “I spend most of my time on sales, giving presentations and helping prospective customers understand that we’re here, we’ve been here a while, we’ve supported over 10,000 organizations of all sizes, and those messages resonate. We’re really focused on acceleration.”

The Role of Booth in ETA Success

Ray credits Booth with providing the financial and operational acumen necessary to navigate the complexities of ETA. His coursework in finance and accounting laid the foundation for a successful investment banking career, which, in turn, prepared him for the intricate processes of acquiring a business.

“When I was at Booth, ETA was nowhere as big as it is now, but the time I spent there still helped a lot during my journey,” said Ray. “From conducting due diligence and financial modeling to negotiating with the sellers and structuring the transaction, Booth’s academic environment gave me the confidence and skills to execute through all of this. Equally important were the skills I learned in project management, analytical thinking, and the ability to stay level-headed under pressure—all of which are crucial in entrepreneurship.”

Beyond academics, Booth’s network was instrumental in his ETA journey. Fellow alumni provided guidance, and conversations with other Booth grads doing a search helped frame his approach to the acquisition.

Advice for Aspiring Entrepreneurs Through Acquisition

Ray’s primary advice for students considering ETA is to take time for self-reflection.

“Understanding personal strengths, skills, and lifestyle goals is crucial in selecting the right business,” said Ray. “ETA isn’t just about buying a company; it’s about finding the right fit that aligns with your specific expertise and aspirations.”

He also emphasizes the importance of reaching out to others, saying that connecting with experienced searchers and operators, as well as other active searchers, can provide valuable insights.

His journey has been grounding, offering him a perspective beyond the world of financial services and highlighting the real impact a business can have on people’s lives.

“ETA has provided us with an opportunity to create something lasting and make a real difference. We get to see the day-to-day impact we’re having on the lives of our customers and employees,” said Ray.

A Family Business Built on Trust

Ray and Dana’s decision to take this journey together was intentional. Having been together for nearly two decades, attending undergrad together and business school simultaneously, they had always shared a vision of working together at some point. Their mutual trust, complementary skills, and shared passion for entrepreneurship made them ideal partners in this endeavor.

While their partnership has led to a successful business, what matters most to them is the example they are setting for their children.

“Our kids, who are seven and five, get to watch their parents navigate the joys and challenges of business ownership, work together to solve problems, and create something lasting and meaningful,” said Ray. “We’re giving them the same exposure and inspiration our families gave to us—and for Dana and me, that’s the best part.”