Doing the Deal on Your Terms

(AICPA, By Kenneth Marks; Published August 2014)

For many Baby Boomers who are considering selling their companies in the coming years, a disappointing reality awaits: Their business is not  worth what they thought. Even in today’s hot merger and acquisition market, a  significant valuation gap exists between what many owners believe their  business is worth and what potential buyers are likely to pay.

This  gap has widened in recent years for a number of reasons.

  • First, low interest rates and moderate expected returns from  stocks and bonds have led owners to need greater proceeds from a sale, driving  their value ambitions higher.
  • Second, at a time when smart companies are investing in  growth and renewal, many owners have tightened their operational belts and  extracted cash. While this business strategy has short-term benefits, owners who  restrict their growth and pay themselves at the expense of losing competitive  ground can diminish the future value and opportunity of the enterprise.
  • Third, some businesses fail to generate economic returns in  excess of their true cost of capital. While this concept can seem academic, it  is the basic concept of value creation. While gaps have always existed between  what sellers want and what buyers are willing to pay, the current gap for  middle-market companies is wider than ever. Let’s focus on how to bridge it.

Back to basics

No  matter how strategic the buyer, all valuations eventually boil down to expected  future cash flow. The value of that cash flow is determined by its absolute  level, the risk of achieving the projected amount, and its growth rate coupled  with the future investment required to sustain it. In the traditional sales  process, buyers start by analyzing historical EBITDA as a proxy for cash  flow.

Bridging the gap

To  bridge the valuation gap, a company must shift the conversation from historical  financials to strategic value. It must demonstrate that it is acting on a  credible, forward-looking growth plan that can be leveraged by the buyer. A  company that can articulate and defend its potential, forecast its performance  into the future, and support that forecast with facts, trends, and action steps  can create a strong position from which to lead negotiations.

To establish a sound, strategic  approach for a sale, consider these two principles:

  • Know  thyself. Analyzing  and executing a successful exit strategy requires a hard look in the mirror. A company  must examine its business model and its relevance to the future. A deep understanding of a company’s value to the  market—including both customers and investors—allows the business owner to put  into place value-creating strategies that offer potential buyers a vision and a  plan for their investment. Remember, a buyer is an investor. Being able to  articulate and defend a growth strategy to a buyer means you must do your  homework and create well defined initiatives that serve as a road map for  continued growth in cash flow and relevance in the marketplace. Demonstrate  your company’s ability to forecast and manage its growth with empirical data  from existing customers and projects. Buyers often interpret predictability as less  risk and, therefore, higher value. The more accurately you can forecast your  business in revenues, margins, and EBITDA and the more clearly you can understand  and control the earnings drivers, the more successfully you can position your  business for a sale on your terms.
  • Know  thy place. Business owners who want to get more for their company  spend time developing solutions that add value to the market segment in which  they operate. They establish a deep sense of the market space and understand who  their competitors are, how their business models work, where they make money,  and where they don’t. They scrutinize data from market research and understand  the competitive landscape and trends. A clear read on how your business fits into the marketplace and how  your growth and strategy will transpire can also widen the pool of  possible “right” buyers. As opposed to a shotgun approach in a broad auction, studying  the defined industry segments that surround your business helps to identify outlying  candidates who may, in the end, see the most value.
    In one example, a niche grading and landscaping firm  took time to understand how each of its competitors engaged with the market and  to explore companies in tangential market segments. By doing so, it found a  strategic buyer that wanted to enter its market segment; a direct competitor  would not have perceived near the value or paid as much. In today’s  environment, a company is wise to optimize its strategic position by exploring partnerships  and alliances that validate its significance to the market, increase its growth  prospects, block competitors, or secure access to certain customers, supply, or  geographies.

Historical  financials validate a business’s ability to be profitable and management’s  ability to operate. By making a strong case for the company’s strategic value,  you give a potential buyer the basis to formulate and pay additional consideration.  By shifting the perspective and discussion from historical numbers to future cash  flow and growth opportunities, you create a productive way to structure a  transaction and monetize the intrinsic value of your business. More important,  you build potential value that a buyer can leverage to realize gains beyond the  near-term numbers.

Increasing Value in Your Company:

For Continued Ownership or Eventual Sale

 

Our Speaker:

Chris Blees, CPA, CM&AA

President, Chief Executive Officer

BiggsKofford, P.C.

What will be discussed?

  • Learn market valuation approaches
  • Understand what drives value
  • Hear how to improve value in your company
     

Thursday, May 22, 2014

7:30 – 9:00 a.m.

BiggsKofford’s Office,

630 Southpointe Court, Suite 200

 

  

  

 
Executive Sustainable Growth Workshop 

    

 
 

 

Join us for the workshop that more than 20,000 executives and their leadership team members have successfully used for strategic planning and growth. 

 

Last year we helped more than 1,500 businesses on six continents…and have been doing it for more than 15 years. Invest a day to:

 

  • LEARN the Four Decisions™ that you must get right to grow your business.
  • GAIN practical, easy-to-use tools to improve your business results right away.
  • IDENTIFYyour A, B and C performers with a Team Talent Review and generate the “next steps.”
  • BUILD or refine an executable One-Page Strategic Plan™ with your team, that gives you thefocus you need to succeed.

Tuesday, November 5, 2013

7:30 a.m. – 4 p.m.

BiggsKofford’s Office,

630 Southpointe Court, Suite 200

Breakfast and lunch served.

 
Presented by: Chuck Kocher
 
Chuck brings 32 years of diverse business experience including 12 years as one of the top-performing coaches in the world. Chuck coaches high-growth companies to meet their maximum potential as businesses, leaders and teams. As a certified Gazelles International Coach, Chuck teaches companies how to utilize the Gazelles strategic planning tools and best practices to achieve sustainable long-term results. 

 

 

 
 

The Alliance of Mergers & Acquisition Advisors (AM&AA) just came out with deal stats from the last half of 2012. To check out the most up-to-date M&A activity, check out their survey results here.

Greg Papineau

Greg Papineau

Director

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Deborah Helton

Deborah Helton

Director

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Although Congress averted many of the consequences of a possible tumble over the fiscal cliff with last-minute action, we would like to recap the impact of the bill that was passed.

We have compiled an overview of the key provisions of this new law. We encourage you to review them and call us if you have any concerns about how your tax situation will change as we prepare your returns for this filing season.

  • A Tax Increase on the Highest Incomes in 2013. Although most taxpayers avoided a tax increase, rates did rise for top earners. Taxpayers (including those who receive income through partnerships and S corporations) who earn more than $400,000 ($450,000 for married taxpayers filing jointly) have a marginal tax rate of 39.6%. All other existing rates remain the same.
  • Higher Capital Gains Rates for Top Earners. The same individuals who are subject to the new 39.6% top rate on income now face a 20% rate on capital gains and dividends, up from 15%. Taxpayers in the 10% and 15% income brackets have a zero capital gains rate and those in the middle will continue to pay 15%.
  • Higher Personal Exemptions Phase-out Levels. The phase-out levels for personal exemptions and itemized deduction have been raised to $300,000 for married couples and surviving spouses and $250,000 for individuals.
  • Permanent AMT Inflation Indexing. The alternative minimum tax originally was intended to prevent high-income individuals from avoiding taxes. In the absence of a patch for last year, more than 60 million middle-income taxpayers might have been subject to the AMT on their 2012 income. After years of last-minute AMT “patches,” the new law permanently indexes the AMT to inflation starting in tax year 2012. For income you earned in 2012, the exemptions are $50,600 for individuals and $78,750 for married taxpayers filing jointly.
  • Restoration of the Full Rate for Social Security and Medicare Taxes. The law did not extend the 2% cut for the employees’ portion of the Social Security payroll tax, which means it will go back to the full rate of 6.2% on income up to $113,700 in 2013.
  • Clarity on Estate and Gift Taxes. After years of uncertainty in this area, the new law holds the estate and gift-tax exclusion at $5 million, indexed for inflation ($5.12 million in 2012). The top tax rate jumped to 40% from 35% as of Jan. 1, 2013, but without this change, it would have soared to 55% with a $1 million exclusion amount. The act made permanent the estate tax portability election, which allows a surviving spouse to use a deceased spouse’s unused exemption amount.
  • Marriage Penalty Relief Retained. Certain taxpayers filing jointly will no longer have to worry about paying more than if they filed as single taxpayers; joint filers also will enjoy a larger standard deduction.
  • Education Tax Benefits Extended. Many deductions for education expenses were set to expire at the end of last year, but they will remain in place under the new law. For example, the law extends the deduction for qualified education expenses through 2013 and retroactively for the 2012 tax year.
  • Conversions to Roth Retirement Plans. The new law allows participants in an employer-sponsored 401(k) to transfer any amount to a Roth 401(k) — the funds will be taxed upon conversion.
  • Tax Relief for Mortgage Loan Modifications. Taxpayers struggling to pay their mortgages, or whose home values have fallen below their purchase price, were given another year of tax relief on any qualifying “indebtedness income” they may receive as a result of a loan modification or short sale on their principal residence.
  • Medicare Surcharge for High Income Earners. Also, taxpayers who have net investment income beginning in 2013 will face a 3.8% surtax on categories of certain unearned income, potentially increasing the total tax rate to 43.4%. This tax was already slated to go into effect as a result of health care reform.  The tax would impact items such as surgery center interests, rental property income, interest, dividends and capital gains to name a few.

Additionally, several popular business tax provisions were set to expire at the end of 2012. For example, small business expensing under Internal Revenue Code Section 179 was increased retroactive to Jan. 1, 2012, and extended through 2013. The dollar limit that can be expensed in 2012 and 2013 is $500,000 and there is a $2 million investment limit. You also can make use of the 15-year recovery period for qualified leasehold improvements, retail improvements and restaurant property until the end of 2013.

We can help you understand the effect that these changes will have on your tax situation. In addition to preparing your return in a way that maximizes your tax advantages, we are also available to advise on strategies and planning decisions that will help you minimize taxes and meet your financial goals. E-mail Deborah here or Greg here.

Entrepreneurial Corner HeaderPrivate Capital Markets: Where is the money flow?

Led by:
Chris Blees, CPA, CM&AA President & CEO

Austin Buckett,
ACA, CM&AA

Manager

We’ll Discuss:

  • What industries are attracting the most capital
  • What the latest trends are in valuation for middle-market companies
  • Up-to-date lending trends for the middle market

Thursday, January 24, 2013

7:30 – 9 a.m.

BiggsKofford’s Office,

630 Southpointe Court, Suite 200

(PitchBook News) Private equity (PE) firms from all across the country (34 states, plus Washington, D.C., to be exact) have Picture1been active this year. In fact, 678 U.S.-headquartered PE investors have completed at least one investment in 2012 to date, according to the PitchBook Platform. Those firms’ headquarters have been largely concentrated in certain areas, with the top three states for headquarters being home to 50% of the firms. New York is by far the most popular headquarters location for U.S. PE firms, with 27% calling The Empire State home base. California comes in second with a 14% share, followed by Illinois at just over 8% and Texas at just under 8%. Altogether, U.S. PE firms have invested in 43 countries in 2012 to date, but those firms have been largely focused on domestic investments, as 84% of their investments this year involved U.S. target companies. California and Texas, both ranked in the top five for U.S. PE firm headquarters locations, are the most active locations for those U.S. deals. The two states each account for about 5% of the global investment activity by U.S. PE firms this year.

Peak Venture Group’s November Entrepreneurs Breakfast Paul and Brian Hegarty: Is Entrepreneurship Taught or Inherited?
From Ireland to Colorado to Silicon Valley, the Hegarty family carries Colorado Springs’ most-successful high tech start-up legacy. Come learn about their brilliant multi-generational achievements and their elegant entrepreneurial strategies in computers, software, semiconductors and chiming clocks. Paul and Brian Hegarty do not often come together to offer their insights into the entrepreneurial world. Both men have played important roles in the growth of major national tech firms; Paul is flying his plane out from Silicon Valley to join his father in making this presentation to those who are fortunate enough to attend this special breakfast.
Register Now!
Paul Hegarty: Paul attended Stanford University, participating in a research project on object-oriented graphical user-interface systems and graduating with BSEE and MSEE degrees. While there, he was hired by Steve Jobs to work at NeXT, eventually serving as Vice President of Software Engineering. NeXT’s software environment was the foundation of what is today MacOSX and iOS. After NeXT, Paul went to work for a venture capital firm and from there co-founded a successful enterprise software company. In recent years, he has been teaching computer science at Stanford University. His course on iOS application development is available on-line and is one of the most popular courses on iTunesU. Brian Hegarty: Brian was born and educated in Ireland. His early career was in semiconductor process and product engineering at Westinghouse and ITT in England and at RCA and Honeywell in the U.S. He later also earned an MBA degree from Denver University. Brian has been involved in multiple entrepreneurial ventures, including Honeywell’s Semiconductor Division, Signal Processing Technologies and NVX Corp. Today Brian has a small but growing “first love” business introducing a major innovation to clock making. His company makes grandfather clocks which play authentic recordings of famous chiming clocks from museums and monuments
Registration Details
Date: Friday, November 9th, 2012 l Time: 6:30am — 9:00am
Location: Garden of the Gods Club, 3320 Mesa Road
Cost: $30 advance registration, $40 at the door (space available)
Breakfast is served buffet style.
Register at the Peak Venture Group website: www.peakventuregroup.com
Online registration closes at 7:00pm on Nov 7th.

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Peak Venture Group’s November Entrepreneurs Breakfast

Paul and Brian Hegarty: Is Entrepreneurship Taught or Inherited?

From Ireland to Colorado to Silicon Valley, the Hegarty family carries Colorado Springs’ most-successful high tech start-up legacy. Come learn about their brilliant multi-generational achievements and their elegant entrepreneurial strategies in computers, software, semiconductors and chiming clocks. Paul and Brian Hegarty do not often come together to offer their insights into the entrepreneurial world. Both men have played important roles in the growth of major national tech firms; Paul is flying his plane out from Silicon Valley to join his father in making this presentation to those who are fortunate enough to attend this special breakfast.

Paul Hegarty: Paul attended Stanford University, participating in a research project on object-oriented graphical user-interface systems and graduating with BSEE and MSEE degrees. While there, he was hired by Steve Jobs to work at NeXT, eventually serving as Vice President of Software Engineering. NeXT’s software environment was the foundation of what is today MacOSX and iOS. After NeXT, Paul went to work for a venture capital firm and from there co-founded a successful enterprise software company. In recent years, he has been teaching computer science at Stanford University. His course on iOS application development is available on-line and is one of the most popular courses on iTunesU.

Brian Hegarty: Brian was born and educated in Ireland. His early career was in semiconductor process and product engineering at Westinghouse and ITT in England and at RCA and Honeywell in the U.S. He later also earned an MBA degree from Denver University. Brian has been involved in multiple entrepreneurial ventures, including Honeywell’s Semiconductor Division, Signal Processing Technologies and NVX Corp. Today Brian has a small but growing “first love” business introducing a major innovation to clock making. His company makes grandfather clocks which play authentic recordings of famous chiming clocks from museums and monuments

Registration Details:

Date: Friday, November 9th, 2012 l Time: 6:30am — 9:00am

Location: Garden of the Gods Club, 3320 Mesa Road

Cost: $30 advance registration, $40 at the door (space available)RegisterNow

Breakfast is served buffet style.

Register at the Peak Venture Group website: www.peakventuregroup.com

Online registration closes at 7:00pm on Nov 7th.

BiggsKofford and Merrill Lynch will host Kenneth H. Marks, a nationally-known author and speaker, who has written about middle-market financing on October 24, 2012.

We’ll discuss:

  • What lenders are specifically looking for to finance small and mid-sized companies
  • What areas of your business should be financed to see the most growth
  • Where to go when banks say you’re not yet bankable
  • Strategies in today’s economy for financing your exit strategy

For more information about the event and to RSVP, click here.

Chris Blees

Chris Blees

President & CEO

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Chris Blees, BiggsKofford’s CEO, wrote an article that was recently featured on portfolio.com and is geared towards business owners who are preparing to exit their business.  

Check out the article here

If you have questions about selling your business or building value to sell it in the future, feel free to e-mail Chris here.

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Business Tune Up: Monitoring and Measuring Your Performance for Optimum Business Health

Led by Kurt Kofford, CPA, and Austin Buckett, ACA, CM&AA

Kurt Kofford, CPA, is a director at BiggsKofford.  He plays a major role in the management of the firm’s clients, overseeing all of the firm’s auditing and accounting engagements, as well as consulting clients on long-term planning.

Austin Buckett, CMA, CM&AA, is a manager in BiggsKofford Capital, BiggsKofford’s Investment Bank department and also acts in an outsourced CFO capacity for clients, providing consulting in financial performance as well as developing growth and exit strategies.      

We’ll discuss:

  • Determining your profit and cash breakeven
  • Growing a business efficiently
  • The key numbers you need to know about your business

Thursday, April 26, 2012

7:30 – 9 a.m.

BiggsKofford’s Office

R.S.V.P. here.

Chris Blees

Chris Blees

President & CEO

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Recently, Chris Blees, BiggsKofford CPA firm and BiggsKofford Capital’s CEO, was featured in a Colorado Springs Business Journal article, written by Monica Mendoza.

Here’s the article on business transitions:

Middle market businesses could win big this year in the game of mergers and acquisitions as companies with deep pockets come out of stalemate and make a move to buy innovative firms.

Private equity firms have $1 billion they’ve been sitting on for the last three years and are now looking for middle market investments that would pump up their bottom line. And corporate America, which had done its best to downsize in every way since 2008 including in research and development, is now looking to snatch up the middle market businesses’ cool new inventions.

Winning at this game will require the middle market businesses to know who is buying and what they value. And, the middle market firms headed for big paydays will be the ones who thought about how the game would end when they were just beginning.

It’s that kind of end game strategic thinking that separates the middle market businesses from the small lifestyle businesses, whose end goal might be to hand off their business to the next generation.

“Middle market companies sell more strategically,” said Chris Blees, president and CEO of BiggsKofford Capital Investment Bank. “It’s more about identifying the value proposition and then going and finding the right buyer as opposed to throwing it up against the wall in hopes that some buyer comes along.”

It takes careful thought and planning and some market intel on what companies find valuable including profitability, sales force, customers and research and development.

One middle market firm Blees worked with spent a few years doubling his company’s size thinking big contracts would be attractive to buyers. It turned out the buyers in his sector wanted profitability over volume. He had to start over with his exit plan, Blees said.

“I would say, ‘Are you building a valuable company?’ And, people say ‘yes’ and I say, ‘valuable to whom?’ “ Blees said.

Once a middle market firm knows what is hot from the buyer’s perspective, they had better start changing their game plan, Blees said.

“Every company eventually exits,” Blees said. “Either horizontally or vertically, you will exit your business.”

In January, Tony Colon sold his Colorado Springs-based Combat Training Solutions to Cyalume Technologies Holdings, Inc. for more than $5 million. It was something he planned since the day he started his company in 2005.

Colon, an aeronautical engineer, started Combat Training Solutions to build exploding devices that look, smell and perform like the IEDs soldiers encounter in Iraq and Afghanistan. He landed large government contracts in the U.S. and then took business overseas to grow revenue past $7 million.

His exit plan was part of his business plan, he said. He knew which companies were out there and which ones would be interested in his products.

“When you start, you should have the (exit) plan,” Colon said. “I estimated when I wanted to sell — that estimate was based on dollars and time.”

Middle market, big player

Most people forget about the middle market, Blees said.

“The politicians, the media and everyone else talks about Wall Street and Main Street as if that’s all there is,” Blees said. “They forget there is middle market which is just as big as the large businesses.”

Middle market businesses are typically defined as those with more than $5 million in revenue. Across the country there are between 200,000 and 300,000 middle market businesses compared to 5 million small businesses.

But middle market businesses are responsible for about 40 percent of the GDP — the same percentage as large businesses, which are typically defined as those with more than $200 million in revenue.

“The middle market is probably the healthiest segment of the local economy,” said Trevor Dierdorff, chairman of the Middle Market Entrepreneurs and president and CEO of Amnet, a Colorado-Springs based IT support company.

Middle market businesses are mature in business structure but nimble in responding to the market. That makes them attractive to buyers, he said.

With only a handful of companies going public each year, the rest of the middle market businesses will be bought by companies looking to expand their reach or companies interested in increasing their bottom line. More middle markets companies are being sold now as a percentage than small businesses, Blees said.

It just happens that two types of distinct buyers are circling the middle market, Blees said. The strategic buyer is looking for intellectual property and the financial buyer has money to spend because it had nothing to buy in recent years when smaller companies were taken down by the economy.

“Now it’s the perfect storm for the middle market company,” Blees said.

When the economy hit the skids, corporate American cut expenses, including its research and development, in favor if keeping profits up.

“For three years now there has been no R&D, no new product, no new market, no new geography, no new expansion,” Blees said.

It was the middle market businesses that kept innovating. That makes them attractive now to the bigger businesses that want their designs.

“Now, share holders want to see more than profit,” Blees said. “Now, they want growth. So, where do they go to get growth — they buy it.”

But, most middle market businesses have not planned their exit strategy, Blees said. They build their business based on what is valuable to them and not what is valuable to their future buyers.

“They say, ‘I love this so much someone else will come along and love it as much as me,” he said.

Exit, stage left

It could be that some middle market businesses are reluctant to think about the exit plan or make a five year plan, Colon said, because they are in love with their idea.

“One of the greatest fears of the prospective owner that prevents the business plan is the fear of recognizing that the plan won’t work, that it won’t be as profitable as they thought it would be,” he said.

But, a middle market business will not sell on a good idea alone, said Chris Younger, managing director CapitalValue Advisors, Investment Banking. Business owners have a strong intuition about risk but they have not thought about it systematically in order to make the changes to be ready to go to market.

“We are seeing buyers are much more discerning, more risk adverse,” Younger said. “As a result, deals are going to take longer. Companies that want to go to market should spend some time and make sure they have addressed the critical risk areas.”

Middle market companies in the same sector will have different strengths and weaknesses, Blees said. And that will attract different types of buyers. But, the companies that get paid the most are the ones that thought about how the game would end.

“If you want to sell five years from now, you have to prepare your company now,” Blees said. “That is the magic.”

If you have questions about selling your business or building value to sell, please contact Chris here.

Austin Buckett

Austin Buckett

Manager

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Every year brings about new expectations and hopes for the coming year, especially as it relates to the economy and business performance.  Given the past three to four years, it is about time we had something to look forward to. 

I recently attended the annual AM&AA winter conference to see what others in the M&A market had experienced in 2011 and were anticipating for the coming year as we roll into 2012.

The conference itself is attended by people from all over the country that work in the M&A middle market, defined as working with companies valued between $5m – $250m.  The attendees are comprised of Investment Bankers, Private Equity Groups, Attorneys and Advisors.

The overall theme of the conference for this year was ‘culture’.  In particular, the role a company’s culture plays into the success of a transaction and the valuation it attracts.  In summary, those with great cultures that are ready for a sale and can be easily handed over to a new owner will generate the most interest from a buyer.  Those that do not have good cultures or team members with good work ethics will likely be passed over from a buyer perspective or heavily devalued as buyers are becoming more aware and more sophisticated on the cost of trying to overcome cultural issues with new acquisitions.

 Below is a summary of the discussions and expectations noted during the conference:

  • 2011 Performance:
    • Deals done in 2011 were on a par with 2010.  While we are a long way from the highs of 2006 and 2007, it is encouraging to see deal activity stabilize and not retreat to pre 2010 levels.
    • Average deal valuation multiples remained constant in the $10m – $25m deal size range at 5.3 x EBITDA.  However, there was an increase in the overall middle market (deal sizes up to $250m) valuation multiples driven by deals north of $100m in deal value.
    • Debt multiples, the amount of purchase prices funded by debt, increased slightly.  Again this was at the larger deal level and was one of the reasons for increased valuations overall.
  • As we head into 2012, it is encouraging to see the larger end of the middle market generating increasing value and bank lending easing up on.  While this has yet to benefit the smaller end of the market, it is a good leading indicator and we expect these trends to continue moving downstream into 2012 and 2013.
  • Private Equity funds are still struggling to find quality deals they can invest in.  There is currently an estimated $450bn of private equity money that has not yet been deployed and many funds have moved downstream to look at smaller business, even those with EBIDTA of $1m are now getting interest from Private Equity Groups. We expect that Private Equity will continue this trend for the next few years as they try to put their money to work and justify raising additional funds in the future.

So is now the time to sell?  For most of our clients, we have yet to see a real uptick in the deal market that they would fall into and we anticipate the market improving over the next 12-24 months.  Therefore, we anticipate sellers being in a better market position towards the end of 2012 and into 2013.  However, given the buyers significant preference for well run companies we strongly advise anyone who is considering an exit in the next 3 – 5 years to really focus on internal improvements to make their business more attractive to a buyer.  

If you have any questions or would like more information on this subject please contact me at (719) 640-0831.

Chris Blees

Chris Blees

President & CEO

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Kurt Kofford

Kurt Kofford

Director

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Austin Buckett

Austin Buckett

Manager

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BiggsKofford was happy that three members of the management team got the opportunity to speak to many of Colorado Springs’ top businesses at the Revenue North Small Business Growth Summit, which was held January 20 and 21.

If you missed their presentations, you can find them here:

If you have any questions about how you can take your business to the next level of growth, value and success, please feel free to contact us.

Chris Blees

Chris Blees

President & CEO

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Austin Buckett

Austin Buckett

Manager

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Recently, a very informative white paper was published that covered what every entrepreneur or family business owner in the process of selling their business should know.  To get the full article, click here

If you have questions about selling or valuing your business for sale, contact Chris Blees or Austin Buckett.