When Joseph Cruz acquired A&A Equipment & Supply in December 2024, he wasn’t just buying a business, he was stepping into a legacy. The Illinois-based company served the sewer and water industry for decades, built on deep relationships and an unwavering commitment to its customers.
With the help of SBA financing through Centrust Bank, Cruz is now writing the next chapter, blending tradition with technology to position the company for long-term growth.
A&A Equipment & Supply has roots going back to the mid 70s, when the original founders of A&A were working for a firm under the name CRESS (Construction Rental Equipment Sales & Service). That business eventually went under and those owners took certain assets from CRESS and started A&A Equipment and Supply in 1982.
The business, as it’s known today, officially formed in 1982. Over the years, it changed ownership two times and underwent a strategic acquisition of certain assets from a sewer supply company in the early 2000s.
By the time Cruz acquired it, the company had been led by longtime owner Dave Grosso, who spent more than 40 years building a loyal customer base and strong reputation.
“My goal has been to honor that legacy while modernizing operations and expanding our services, especially in small engine repair, after acquiring assets from a local repair shop, A-1 Engine Services.”
Like many businesses in construction and public works, A&A is deeply affected by seasonal revenue cycles.
“The first challenge was the seasonality of the business. Revenue dips heavily in winter, especially from December to April,” says Cruz. “We’re addressing this by focusing on growing service income and selling winter-focused products like water-main repair products, heaters and salt.”
Another major challenge has been technology.
“The business was operating on paper and relationships, but lacked an inventory system or CRM,” he says. “I’ve started implementing a modern tech stack including QuickBooks Online, SOS inventory, and planning for a full ERP rollout to improve visibility, customer engagement, and forecasting.”
Cruz also knew that navigating a leadership transition required more than just implementing new tools.
“Transitioning leadership without disrupting customer relationships was key,” he says. “I intentionally kept a low profile initially, learning operations alongside the team to build trust with both employees, customers and vendors.”
Cruz always intended to use financing to support the business acquisition.
“I always knew I was going to take out a loan for financing the acquisition. While the business was cash flowing and had long-term customer relationships, I wanted to preserve working capital for operational improvements and future growth initiatives.”
That foresight proved valuable, especially since Cruz also funded the acquisition of A-1 Engine Services with his own capital shortly after closing the main transaction.
“Financing allowed us to maintain momentum without stretching the business too thin in the early months, especially in the winter.”
Several lenders were in the mix as Cruz explored SBA loan options, but Centrust Bank stood out.
“Centrust stood out for their responsiveness, small-business focus, and local market knowledge,” he says. “From the beginning, it was clear they weren’t just underwriting a deal—they were investing in a story and a strategy.”
That strategic support was key to Cruz’s decision. “They understood the nuances of SBA financing and were supportive of the vision I had for growing A&A into something significantly larger and more durable.”
Cruz’s experience with Centrust was more than transactional. “It’s been excellent. Centrust has been more than a lender. They’ve been a partner. Tom was the best person to work with and I was also looking at LiveOak, Fifth Third, and a couple other SBA bankers but Tom was the key differentiator,” he says.
He adds that both Tom and Ling went above and beyond throughout the process. “Both Tom and Ling kept their patient during diligence, creative in deal structuring, and thoughtful about how to support the business post-close. I’ve felt like they were rooting for me to succeed, not just managing risk on their end. That makes a big difference, especially in your first year of ownership.”
Cruz’s long-term vision involves ambitious growth.
“The goal is to grow the business 3x by 2030,” he says. “We’re expanding our business with the addition of A-1, hiring certified technicians, modernizing our sales process, bidding and estimating on projects, obtaining state and federal contracts and investing in digital marketing and SEO to increase inbound leads.”
He’s also targeting new customer segments and strengthening operations. “We’re also targeting new customer segments and bidding on government contracts. Longer-term, we want to become the number one sewer and water supplier and small engine repair shop in Illinois. We’re laying the foundation now with better technology, people, and processes.”
Cruz has clear advice for other entrepreneurs considering SBA financing: “Make sure you understand your cash flow and have a clear plan for using the funds. Don’t just borrow to stay afloat—borrow to grow,” he says.
“Find a lender like Centrust who will take the time to understand your business, not just your balance sheet. And be transparent—about your goals, your risks, and your blind spots. If you’re willing to do the work and surround yourself with the right partners, financing can be the fuel that turns a good business into a great one.”