Changes in your life, the economy or now, even a pandemic, can dictate when you sell your business. In this client planning focus, the owner’s family situation dictated the timing of the sale. We received a call from a client who said, “I have to sell my business now!” We’d heard this from them before, …
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Your business is likely one of your most valuable assets, but it is also an illiquid one. It will take time to unlock its value and convert it to cash or an asset that you can invest or spend. Preparation and planning ahead are important, so that you are satisfied with the sale price and …
After years working in M&A, it should be noted that in the Small Business sector (we define it as businesses under $10 million in sales), there has been an almost equal number of deals that don’t close, as successful sales and ownership transitions. SME owners are often personally attached to their business and can lose sight of their end …
Businesses that operated successfully during the COVID-19 shutdowns have experienced the best stress test possible and are considered ideal acquisition targets going forward. Successful operation throughout the 2020 lockdowns is a testament to the industry and management of these businesses and is certainly something to be applauded. Essential businesses that survived through the lockdowns will …
I was approached by a well-known buyer recently to see if I was aware of any businesses for sale in a specific skilled trade sector. Throughout my network, I was aware of a mature business owner that was trying to determine the appropriate transition option for him but had not formally committed to listing his …
Transition Architects has been working with a mature client with a successful business in the trades. His adult son has been involved with the business for many years and the owner considered his succession as one of his possible transition/retirement options. However, while his son is interested and has strong trade/ operational skills, he doesn’t …
We were engaged by the wife of the founder of a company to sell the business several years after her husband had passed away. The wife had no direct experience in the millwright business but fortunately had been involved with the bookkeeping and payroll, so was comfortable keeping the business running short term. Unfortunately, the …
We were engaged by the husband & wife owners of a family company that had been expecting their adult son to take over the business within a few years. He had been born into the business and had been trained by his father for many years. Unfortunately, the son met and married a new partner …
I worked with a company a few years ago that did not declare most of their cash transactions. This allowed for some tax relief upfront but when the business was listed for sale, despite many interested buyers, no one would pay the “true” value that the owner requested, as financial results and profitability were understated …