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October 18, 2017 |
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Jim McManaman started his accounting firm in a small town of 3,000, so when he decided to sell, he had to figure out how to do it without tipping off his employees.
McManaman is well known in town, so he relied on secret, out-of-town meetings with buyers and Sunday sessions in his board room to keep things quiet. Jim was able sell his business for 1.25 times revenue, most of which was paid at closing. He was able to uphold his reputation in the community and exit his business in a town where gossip travels fast.
In this episode, you’ll learn:
McManaman was able to get a premium valuation for his accounting firm, in part because it ran without him. Find out how reliant your company is on you by completing your Value Builder questionnaire.
Jim McManaman is the founder of Peak Growth Business Coaching, a Certified Value Builder firm that helps clients increase their value, so they are ready to transition a year from now or 20 years from nowwhile enjoying more profits and less stress. In his past life, He’s owned several businesses (which he has sold) some successful (to him anyway) and others not so much, from three service companies, two Franchises and his most recent gig has been 15 years as the CEO of an Accounting/Tax/Financial Planning firm.
One Strategy Took Them From 12.5 to 16 times EBITDA
Arleen & Ted Taveras had been growing their insurance consultancy for twenty years when they received an unsolicited acquisition offer for 12.5 times EBITDA.
It was a tempting offer from an industry stalwart, but Arleen & Ted wondered if they might be leaving money on the table.
The Other Reason Owners Decide to Sell
n 2012, Randy Ambrosie was hired to run 3Macs, a Montreal-based wealth management firm with $4 billion in assets under management at the time.
Are you stacking a few Benjamins?
, a personal finance podcast. Sehy’s journey was unusual: he started as a financial advisor, building a firm with $65MM in assets under management until he received a letter prompting him to sell.
Why Did This $3MM Company Sell For 5X Revenue?
Brian Ferrilla started Resort Advantage in 2006 to help casinos adhere to new anti-money laundering laws. Criminals were laundering money through casinos and Ferrilla’s software helped casinos help spot the bad guys.
Inside the Mind of a Private Equity Investor
Frank Cottle led an investor group to buy Hi-Mark Software for 10 times EBITDA. Cottle then sold a chunk for 15 times and ultimately sold his last tranche of equity for more than 16 times EBITDA to Lufthansa.
How to Exit a Consulting Business
Sohail Khan built J.V. Global Consulting into a $3 million consulting business, offering training boot camps and consulting on how to set up joint venture partnerships. Khan was approached by one of his clients wanting to buy his business.
