A business attorney approached us to help sell a specialty construction contractor to a competitor. The company showed profits, a base of solid customers and operations in a somewhat recession-proof niche. Our client, the owner, had been planning for several years to retire in 2008. We learned during initial discussions that the competitor was willing to pay only for the hard assets and planned to knock our client out of competition. We believed our client, the customers and employees could get a better deal.
 
Result #1: We spoke with business brokers, potential buyers and the management team to determine an optimal transition strategy. It became clear a management buyout ensured the most seamless transition with the most benefit for all stakeholders. We introduced the management team to a local bank willing to finance part of the transaction. The deal closed the first part of January. Yes, good deals are still being completed! Our client is happily retired, and the business he built wasn't sacrificed to a competitor. 
 
If you have a client considering their business transition and exit plan give Allan Vander Hamm, Principal, Business Valuation and Transition Services, a call at 425.454.7990 to discuss the issues and the process. A plan now will help them capture maximum rewards later. avanderhamm@bpcpa.com