1. When did you get started as an M&A Advisor?
In 1981, after doing buy side M&A in Fortune 500 companies
2. What drew you to this work?
It’s challenging and always interesting. It requires multiple skill sets: financial analysis, marketing, sales, analytical writing, being a quick study, and above all people skills, as this is a relationship business and sellers, in particular, are anxious about what is often the largest and most life-changing financial transaction of their lives. It’s interesting because it requires constant learning in a constantly changing environment – new clients, industries, laws and regulations, case law, technology, economic changes, etc.
3. What industries do you specialize in and what makes it a great fit for you?
I prefer to be a generalist because I like variety and have in depth experience in multiple industries. That said, most of my transactions are in manufacturing, distribution, construction-related businesses, and business services.
4. How do you evaluate if a business owner is ready to sell their business?
I ask a lot of questions about the reason for sale and why now. The single most important question is “What do you plan to do after the sale closes and your transition period ends?” If an owner cannot answer that to my satisfaction, they are not ready to sell even if they think they are and will balk when an offer is presented. They also must have “skin in the game,” i.e., be willing to invest in both the initial steps of our process and in remedying whatever problems impact the business’s marketability.
5. Describe your personality and one of your strengths.
People generally find me personable and relatively low key and trust me to handle their transactions. I can relate to almost anybody. I try to do things in a collaborative, problem-solving, non-confrontational manner but can be firm or hard-nosed when necessary. One of my strengths is that, having managed hundreds of transactions, I can often draw from prior experiences to resolve current issues.
6. Four words that describe what you bring to your clients
In depth M&A experience