"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."
NH-Based Techinical Manufacturing Company Sold
Hampshire Controls has a bright future with new ownership. The company was recently sold by Diane Rush, owner and president, to Pillar Imaging and its leader Dr. Michael Pilon.
Be Ready When You Are Ready
When a business owner says it’s time to sell, I ask, “How fast do you want to be out?” The answer I hear most is, “Yesterday.” But sellers underestimate how long the process takes.
Looking at a Sale Through the Right Lens
Sometimes our vision about the future is blurry because we aren’t considering the whole picture but only parts of it.
5 Deal Points from the Trenches
Today I work with clients of Business Transition Strategies who are implementing Growth Through Acquisition strategies. Here are a few observations from working on a wide variety of projects.
Tax Changes Could Hurt Net Proceeds
Changes proposed to the capital gains tax suggest they may need to get 30% more in a transaction in the future just to net the same value they would get today.
Good Ideas From Shark Tank Deal
One of my colleagues in Cornerstone Alliance was front and center in a recent Shark Tank exercise. A business that had been sold was put in front of four potential buyer groups.
Buyer Trends in Lower Mid-Market
Other businesses are a significant market for companies being sold within the lower mid-market.
Things to Consider in Transition Thinking
As a business owner, you have to consider the role you want to play in the business in the immediate future following a sale and how that could impact the sale.
Spring Cleaning is Good for Business
May is a good time for spring cleaning, especially at your business. It is a good time to look at your business as though you were in the throes of due diligence. Here are a few areas to consider.
Planning Ahead for a Sale
As you start thinking about selling your business, it is important to engage with someone who can coach you. There’s a lot of value you can create over the final years before you sell.
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.