A word from the CEO of Redefined Lighting, Beau Martin.
A word from Chief Growth Officer at Streamside Parks, Jen Milam.
A word from CEO at BMG, John Cascarano.
A word from CEO at TCM, Drew Honeycutt.
I had initially been approached by a previous customer expressing interest in acquiring my business. At that point, I had really not entertained the thought but once the possibility was introduced, it really began to pique my interest. Although the deal never materialized, I began to consider the possibility of an exit strategy (I was 62 years old at the time).
After reaching out to a couple of national business brokers and one local one, the nonrefundable down payments and commission percentage required seemed unreasonable so I reconsidered moving forward at that time. The national brokers also wanted a percentage of any salary I received post-closing as well as a commission on leasing/selling my building.
Once again, I was approached by a customer that happened to be working with Tom at the time and wanted Tom to look at my books to see if my company was a fit for his portfolio.
The rest is history. While I feel my books and practices were well organized, although rather rudimentary, Tom was able to put together a package that was more uniform and presentable to potential buyers.
We closed at the end of January the following year (120 days). Tom handled both sides of the sale, providing a much needed sounding board for both parties and keeping all issues encountered on an even keel. Without his help and guidance, I really do not think the sale would have closed.
Tom was available post transaction for the “true-up” and transition phase so that everything moved along smoothly.
Obviously, I would recommend Tom’s services for anyone considering selling their business, or as a consultant for getting one’s books in order and in a more universally presentable form. I would also be happy to speak with anyone that may have any questions about my experience.
