This week, actually in two consecutive days, my partner and I closed two substantial deals on the west coast. It was a good week.
I didn’t write much about this previously for two reasons. One is that details of an ongoing deal are confidential so there isn’t much I could write about. The other is that I have to face the facts – I must be superstitious because I realized I didn’t want to jinx a deal by writing about it.
Although only a day apart, each deal was completely different from the other. For the next few weeks, I’ll focus on various aspects of the two deals under the blog title, “Tale of Two Deals”.
– One client was acquired by a strategic partner while the other was acquired by a private equity group
– One client was acquired by a large, NYSE listed public company, while the other was acquired by a three person firm.
– One was a stock sale, while the other was an asset sale
– Some owners stayed, some positioned for retirement
– Some owners completely cashed out, some rolled over some of their equity
– Everyone got some cash, but the similarities ended there, with some receiving notes, some an earnout and others continued equity position
– One tried to use their in-house attorney while the other used an experienced deal attorney
However both used us to create a competitive environment to maximize price. That aspect worked well in both cases.
So stay tuned, and I’ll explore these aspects of the EMSI and WETLabs transactions in upcoming blog articles.
Please note that the intent of the blog is to educate, not breach any confidentiality I have with my clients, so I reserve the right to obscure some facts if it means I can still illustrate an important point, but keep certain details of the transactions confidential.
If you wish to know more about buying and selling a business, you can many of my blog articles organized into a guide at: www.sellbusinessguide.com