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Kevin Sullivan was riding high running one of Seattle’s largest printing companies when the 2008 recession hit.
Within months, sales tanked and Sullivan was forced to slash his work force from 185 down to 90. Nine hundred thousand dollars into a million dollar line of credit, the bank called and demanded Sullivan and his two partners re-capitalize the business. That’s when he decided he wanted out.
In this episode of Built to Sell Radio you’ll hear how Sullivan and his team pulled the business out of the ditch and eventually got it back to profitability, which is when he and his partners decided to sell. His partners were happy to just get their names off the debt the business was carrying but Sullivan thought they could do much better, He turned down the 2 – 3 times earnings he was offered by financial buyers in search of an offer closer to six times…in the end – he was able to do even better.
Kevin Sullivan was the president of CCS Digital for 16 years. CCS Digital was highly regarded by clients for the firm’s commitment to customer satisfaction and quality products. The company earned a spot in the Inc. 5000 fastest growing companies in 2013. Kevin positioned the company for sale, and oversaw the successful acquisition itself, achieving the desired value for shareholders. Kevin was retained on a contract with the acquirer to integrate the business into theirs. Kevin now serves as an advisory CEO to Forever Green Indoors, a distributor of products and infrastructure which serves the burgeoning indoor horticulture industry in the northwest.