From the Desk of Bernard Mustafa
The Highlight of the Microsoft Government Contractor Summit was the Keynote Panel "Exit Strategies in Turbulent Times"
The Annual Microsoft Government Contractor Summit held on December 11 at the Fairview Park Marriott was a huge success. As the premier sponsor for the event, it was great to see many of our customers and partners there. Please visit the Microsoft Government Contractor and PVBS blogs for details on the presentations and content.
I was honored to be on the keynote panel discussion moderated by Nick Wakeman of Washington Technology, "Exit Strategies in Turbulent Times," alongside four of the industry's most successful participants. Bob Kipps, managing partner of investment banking firm KippsDesanto, provided great ideas on what growing contractors should be thinking about over the next few years to prepare their firms for profitable exits.
Jodi Johnson and Dave Young sold their firm, Oberon Associates, for approximately $175M in July. They shared how they were able to accomplish one of the industry's most talked about transactions after only being in business for 6 years.
Bill Mutryn, co-leader of Holland & Knight's M&A practice, gave sage advice on what CEOs need to do from a legal perspective. The response to Bill's counsel was so well received from the audience that we asked him to contribute to this newsletter. I am happy to say that starting with this issue, we include a Q&A with Bill on merger and acquisition legal topics.
Many thanks to Jodi, Dave, Bob, Bill and Nick for getting the Microsoft Government Contractor Summit off to a fantastic start.
If you would like to know more about what was discussed at the panel, please give me a call at 703.391.0977 or email me to discuss.
Happy Holidays and thank you!
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| Q&A Regarding Legal Matters Relating to Exit Strategies |
Over the next few months William J. Mutryn, a partner in Holland & Knight's Northern Virginia office, and co-Leader of the firm's national Corporate and M&A Practice Group will answer legal questions concerning mergers and acquisitions for our newsletter. He practices principally in the areas of mergers and acquisitions, commercial transactions, corporate governance and finance. Over the last few years, he has served as lead counsel in over 50 M&A transactions and is the President of ACG's National Capital Chapter. He was also on the keynote panel at the Microsoft Government Contractor Summit this month in Falls Church, VA.
 QUESTION: From a legal perspective, how far in advance of an expected exit event should business owners begin to prepare for the possible transaction? What are some of the items that should be done to prepare?
ANSWER: In general a sales process for a company will take approximately six months or longer from the time an investment banker is engaged to the time of the closing. Three to twelve months in advance of engaging an investment banker, an owner should commence preparations for the exit event. The preparations should initially include estate planning on the part of the owners as transaction will present tax savings opportunities arising from a possible exit event. Additionally, certain legal related preparations could be done including:
- A review and update of corporate books and records for compliance with corporate laws as well as confirmation of ownership and stock options, if applicable.
- An assessment of compliance with applicable laws and regulations including employment, fair labor standards, government contract, and export controls.
- An intellectual property audit to make sure that the company's intellectual property is properly protected and that the company has the necessary intellectual property conduct of business.
- Employment audit with respect to employment practices, including consultants and independent contractors.
- A tax review to assess compliance with applicable tax rules including S-Corp. regulations.
- A government contracts analysis to ascertain any restrictions in government contracts, subcontracts, or teaming agreements as well as set-aside work.
- A financial analysis to create a waterfall chart of revenues projected for the next two years as well as backlog and pipeline reports.
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Many Exciting Microsoft Dynamics NAV Events Scheduled in 2009 |
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We're going to start the new year off with a number of exciting events, many around the launch of Microsoft Dynamics NAV 2009. Please add the following events to your calendar. Refer to the PVBS events page for current information.
Microsoft Dynamics NAV 2009 Hands-On Workshops
Be among the first users in the country to see what the buzz is all about. Throughout the week of February 9-13, PVBS will be hosting exclusive hands-on sessions for government contractors in our Reston training center. Call 703.391.0977 or send an email to register.
Microsoft Dynamics NAV 2009 Launch Events*
-February 5, 2009. 7:30am to Noon. Reston, VA
-March 19, 2009. 11:30am to 2:30pm, Reston, VA
Microsoft Dynamics NAV Lunch & Learns for Government Contractors*
-February 12, 2009. 11:30am to 1:30pm
-March 24, 2009. 11:30am to 1:30pm
*The Launch Events and Lunch & Learns will be held at the Microsoft Innovation & Technology Center, 12012 Sunset Hills Road, Reston, VA 20190.
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Be sure to visit and register at our blog.
Sincerely,
Bernard
Pleasant Valley Business Solutions
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| Four Points Moves from QuickBooks to Microsoft Dynamics NAV |
Four Points Technology (Chantilly, VA) has selected Microsoft Dynamics NAV from PVBS as its enterprise financial management solution. Entrepreneur Magazine recognized Four Points as the third fastest growing technology small business in America and the 14th fastest growing small business in America in 2007.
CEO David Gilchrist said, "We needed a system that could go from sales quote to invoice more effectively as well as making the sales order modification process go more smoothly. We were very excited to see that Microsoft Dynamics NAV could do all of this as well as handling all of our financial management requirements." Read more about why Four Points chose Microsoft Dynamics NAV from PVBS here.
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| About Microsoft Dynamics NAV for Government Contractors |
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Microsoft Dynamics NAV for Government Contractors from PVBS is an ERP solution that has been designed specifically for companies that provide services and/or sell products to the Federal Government. It features:
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Warehouse Management
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Human Resources
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Analytics
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CRM
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