Selling a
Business

“I wanted to let you know how pleased I am with my decision to use you to represent us in the sale of our semiconductor test laboratory. You brought us five Letters of Intent within a short period of time and this competition resulted in our obtaining a substantially greater than the appraised value!

You were always at our side, aggressively representing our interest during the long and complex negotiations with the buyer.

After 20 years at our company, I am now looking forward to a more relaxed lifestyle.”

“Greg and his associates generated sufficient activity to bring multiple competing offers.  Greg provided valuable advice as we negotiated and I made an agreement with the best buyer.  Then we began working through the due diligence phase.  I was very concerned about releasing all of the financial information to the buyer and his accountant, but Greg convinced me that it was the correct thing to do.  We all worked together providing documents and information until the buyer’s accountant approved the books and records.  Meanwhile Greg worked with three SBA lenders to obtain financing for the buyer.

Overall, I was completely satisfied with the job done by Greg.  The sale was completed in a timely manner, communications were excellent, problems were solved and the escrow closed on time.  I recommend Greg Carpenter to business owners who want to sell their businesses using professional representation.”

“I have learned that selling a business, especially one like mine, is not an easy task.  You need someone with a lot of skill to assist you.  My company did $8.8 million for the year ended before the sale, and most of that (85%-90%) was from one customer. Finding bank financing was not easy.  But John Mittelstet did not let the difficulty of the task influence his enthusiasm to tackle the job, and John’s persistence was invaluable to the success leading to the Closing of our transaction. 

And there were times when it seemed that events were conspiring against a closing on any date, but John always found a solution or work-around for any of the disagreements between both sides’ attorneys, and or principals.  John is also very knowledgeable of accounting principles and the tax code.  He was able to structure our deal so that I was able to get a lot of long-term gain even though we did an asset transaction, and my principal business was a C-Corp.

In summary, if you have a valuable business, I can recommend no one more highly than John Mittelstet to help you achieve your goal of attaining the highest fair market value for your business.  Feel free to have John give you my private number if you would like to speak with me.”