"I retained Business Transition Strategies to handle the sale of my company, which manufactures machined parts for a diversity of sectors. The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home. Their data room system, with a lot of information loaded in advance, saved time during due diligence. I would recommend John Howe, director, and Ken Schaefer, deputy director and the entire BTS team to any private company considering selling."Scott MacDiarmid - MacDiarmid Machine Corporation
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition...your expertise, character and perseverance."Mary, seller
"New Image Coatings, owners of Seal-Once, retained Business Transition Strategies in April of 2015 to locate a strategic buyer for the company. This was successfully completed during April of 2016 when we were acquired by UC Coatings of Buffalo, New York. Working at our side throughout this process were John Howe director, and Ken Schaefer, deputy director, of Business Transition Strategies. From the start of the project, where the information memorandum was developed, to helping us create the management presentation to acquirers, through negotiating the letter of intent and then the definitive agreement, they were there with me and our professional team every step of the way. It took nearly one year to the day to complete the project, but they never lost focus on my best interests and helped me keep my eye on business. This sale was very complex. It included transfer of trade secrets from the product developer, ...as well as the transfer of a manufacturing and licensing agreement we had with the core compound producer... John and Ken marketed the company to a range of strategic acquirers, including a number of private equity groups and their platform companies, which ultimately resulted in an agreement with United Coatings... BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal. I would recommend John Howe and Ken Schaefer to any company owner considering selling."Hank Croteau, New Image Coatings
"We thoroughly enjoyed working with John Howe and Ken Schaefer of Business Transition Strategies. Their professionalism and expertise are unmatched in the New England region. They moderated an uncommonly smooth sale process, and we truly appreciated their honesty and integrity. They were both instrumental in helping us hit the ground running post acquisition."Tyler, buyer
"It is a privilege to write a letter of recommendation on behalf of Business Transition Strategies. ...As with any family business, negotiations need to be handled delicately and, as with any sale, both parties need to be satisfied with the end result. Quite frankly, without their help, this could not have been achieved. John Howe and Ken Schaefer skillfully analyzed the books and were able to bridge the gap between the sellers’ belief of what the company was worth and its actual worth. Their style is objective, straightforward, thorough and kind in the delivery of their assessment. After the sale was achieved to both parties' satisfaction, John and Ken were hired to help with the adjustment of the acquisition and the financial health of the company moving forward. I can highly recommend this talented group of experienced business advisors to any company in need of clear and thoughtful company planning and adjustments."Jane, owner
"I wanted to thank both of you on behalf of Equity Management Partners for the helpful and very professional manner in which you managed the sale of New England Techni-coil, Inc. As you know well, these types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement"Thomas, Partner
"...has greatly benefited from our association with Business Transition Strategies for over 3 years, and we look forward to continuing it. You have been of great assistance to us in developing the Business Plan, helping to define strategic direction, market focus approaches, and organizing our Business Advisory Board. The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth. We can highly recommend BTS to both established and start-up businesses in need of excellent consultation and support as they pursue business transitions."Steve, advisory client
"What a great experience it was to work with John Howe, who sold my business in May 2012. A year prior, his thorough analysis of the business pointed out ways to increase annual revenue. Because of this, I made changes that immediately increased revenue, substantially increasing the value of the business. John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail. He provides excellent business consultation, is highly organized, and a pleasure to work with. I would highly recommend John to anyone who is looking to sell their business or simply improve the bottom line."Maundy, healthcare seller
"When Earl and I first met with John Howe at Business Transition Strategies (BTS) we were interested in one listing but John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals. Both John and Ken Schaefer worked with us on the investigation of the business, through the offering sheet and consequently into the due diligent stage after we decided to pursue the acquisition. They were never very far away and had a complete understanding of the process we would go through to purchase the operation. They worked with attorneys from both the seller and the buyers side and assisted in obtaining an SBA backed loan through the bank we had approached to finance the deal. All in all I was very pleased with their expertise, their assistance in taking us through the process and their calmness as we worked on one of the biggest undertakings either of us had ever tackled. I would certainly go back to BTS to either help us sell a business or to purchase another."Andrew, Buyer
"Regarding our working relationship with Business Transition Strategies. After 32 years of continuous growth we hit 2009 & 2010 and like many companies we went flat and in 2010 had our first loss. At this point we knew we had to make changes if we where to succeed in this new economic environment. Business Transition Strategies (BTS), particularly John Howe and Ken Schaefer, where brought on as consultants. The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner. They interacted with all employees and our professional partners. Once this was done they presented their findings to the executive group and gave very specific suggestions for improvements. This done and a plan in place, John & Ken continued to help us move forward and implement changes and make adjustments where needed. I am happy to say we are back to being a growing and profitable business and I believe BTS played a big part in making this happen. I would recommend to anyone that they include BTS as part of their business plans for the future."Christina
"The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home."
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition."
"BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal."
"These types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement."
"The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth."
"John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail."
"John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals."
"The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner."
What’s the M&A Outlook?
The intense pace of mergers and acquisitions that shaped the Lower Middle Market last year is likely to continue through 2019, according to the most recent Market Pulse survey. The survey is a join
Why an IOI can help get a better LOI
We generally include an Indication of Interest (IOI) in our sales process. This is not the same as an LOI – letter of intent - but is still an important part of the sales process. Here’s why.
Looking Back to Plan the Future
As one year closes; another is just beginning. It is an excellent time for company owners to consider the options for what is next.
Growth Through Acquisition in the Lower Mid-market
Growth through acquisition has been a strategy largely used by mid-sized and larger companies for years. Now firms in the lower mid-market are getting into it as well.
PEI Cites 8 Attributes of Quality Deals
Quality deal flow is among the top concerns for M&A advisors. A recent blog posted by Private Equity Information offers 8 key attributes of “quality deals.”
In an M&A Program: Why Consider a Business “Carve Out”?
An M&A program need not be limited in the search to the complete acquisition of a company.
The BIA Report on Consumer Confidence
"NH consumer confidence remains high" according to the latest BIA Survey conducted October 10 and October 18, 2018 by the UNH Survey Center.
Business Transition Snippets
Here are a few observations we culled from sources we regularly review that relate to business transitions.
What to expect in the LOI exclusivity period
A question that often emerges when reviewing proposals for acquisition with owners is the exclusivity period.
Growth through acquisition isn't just for the big companies
Growth through acquisition Is a valid strategy for businesses in the lower mid-market as well as the mid-market.
Precision Machining Company
Initially, liquidation was a serious consideration. It would offer a quick exit but would hurt loyal employees and disrupt the customers who had come to rely on its quality production.
Green Product Company
Our client owners could dig in for the long haul…However, this would take five years or more. Owners simply lacked the horsepower to do it.
Water Purification Company and Young Buyers
Owners decided they wanted to retire. They also wanted to be fair to the staff who had been loyal to them. Could the company be sold, the staff retained and the facility remain in use?
Magnetics Company with High Profile Customers
(T)he manufacturer would need to focus on growing EBITDA to capture interest from major strategic buyers and achieve a higher multiple of earnings.