Merger and Acquisition Advisory

For most contractors, selling their business is a once in a lifetime experience. Today, buyers are extremely sophisticated and transactions more complex than ever before. Sellers often have questions as to timing, value of their business and understanding the complete process. My goal is to anticipate pitfalls and do everything possible to achieve a successful transaction for both parties.

My approach to helping clients sell their business

No two transactions are the same. Today’s buyers are largely made up of private equity investors and public companies. Both have very sophisticated deal teams who understand the nuances of structuring a transaction to their benefit. Many sellers are doing this for the first time and find themselves at a disadvantage. My goal is to level the playing field and make sellers aware of the challenges they face in the process. Structuring a transaction to ensure a fair valuation, confidentiality and speed to close is always the goal. 

My process involves:

  • Leveraging my deep, sector specific experience to help clients make informed decisions

  • Evaluating appropriate options 

  • Assessing competitive offers sourced through a well-executed process as well as industry relationships

  • Maximizing value by working with the transaction team made up of attorneys, accountants, bonding professionals, bankers and others

My approach to helping clients buy a business

By focusing on specific contractor niches, I have the ability to understand a buyer’s criteria and match that to the market. Construction services firms present challenges and demand a thorough understanding of the industry. I work exclusively in the construction industry and understand its unique characteristics. I work with firms to provide a develop an acquisition strategy tailored to their needs. 

My process involves:

  • Leveraging my specific knowledge of your sector to save time and effort

  • Understanding your criteria to target appropriate acquisition candidates

  • Working with you to close just one or multiple transactions

My approach to facilitating internal buyouts

For many firms, an internal buyout has advantages over a sale to a third party. This typically involves two paths. For contractors and service companies, transferring ownership is important step to solidifying legacies, preserving wealth and retain employees. It is a complex process and usually takes years to successfully execute. 

  • Transferring of ownership to family members. Having grown up in one and working with them for my entire career, I understand the challenges that ownership transfer and management succession bring to family businesses. Working through these issues to achieve fairness to both parties as well as insure the continued success of the business takes the experience that I am able to bring to the effort. 

  • Transferring  of ownership to employees. Employee buyouts are the most common form of ownership transfer in the construction industry. Successful outcomes depend on two distinct parts. Management succession depends on having a leadership team capable of continuing the success of the firm without the day to day involvement of the current owners. Ownership transfer involves a thorough understanding of cash flow, tax and working capital issues unique to management buyouts.

My process involves:

  • Identifying the goals of existing and potential shareholders

  • Developing ownership alternatives and help decide upon the best fit

  • Implementing a plan to achieve ownership transfer goals

My approach to ESOP Advisory

Employee Stock Ownership Plans (ESOP’s) are an increasingly attractive exit option for some construction service firms. Tax efficiency, legacy protection and improved employee recruiting and retention are some of the immediate benefits. I work with professionals with decades of experience in structuring and financing ESOPs through a network of trustees, attorneys and financing providers. 

My process involves:

  • Developing an outcome to reward employees and preserve the company’s legacy

  • Leveraging relationships with professionals needed to complete the transaction

  • Guiding clients through the implementation process 

My approach to implementing a dual-track process to simultaneously explore the sale to a third party and transitioning to an ESOP 

Often clients aren’t sure whether a third-party sale or ESOP transaction is the better path. The reality is that you don’t know which alternative to use until both have been fully vetted. Through a unique combination of experience in both selling to third parties and structuring ESOP transactions, I have been able to work on a dual track to compare both options to the selling contractor.