San Francisco, California
London, United Kingdom
How To Buy Or Sell A Business
A business is like a farm, in many ways. You can add production by improving your methods, but you might double yield a lot faster by buying the farm across the highway. Your business gets profits from every sale, but you may get even more if you can sell your operation after proving its productivity. Or, you can work toward private equity support or even higher levels of sales multiples, through internal productivity that produces growth, and through faster growth via acquisitions.
This month's panelists, two of whom are also speaking at the University of Chicago Enrepreneurial Roundtable in Warrenville this month, have helped many entrepreneurs prepare and list businesses for sale, find buyers, and negotiate terms for both buyers and sellers, or buy other companies for their organizations. They are:
The buyer and bank purchase/sale expert: Larry Jones, First State Bank, and Senior Consultant, Property Management, SOURCE Management. In his present position at First State Bank, and in prior work for Valley Community Bank, Old Second Bank, and LaSalle Bank, Larry has built and managed an outstanding business loan portfolio, while making friends with just about every business man and woman in the Fox Valley area. He has also helped his home institutions buy and sell banks. Larry's presentation will explain how you can qualify for SBA loans his bank offers, and how he has viewed the business purchase and sale process (and the many other professionals involved in same, like brokers, lawyers, and accountants or other due diligence professionals) as a banker, a buyer, and a seller.
The buyer's broker: Ralph Dieckmann, of Integre Partners. Since 1989, Ralph Dieckmann has been an investor in new ventures and private equity buyouts, sitting on public and private boards. These experiences led in a natural sequence to an interest in expanding from the practice of executive search to buy-side acquisition advisory. The formation of Integré Partners as a successor to Dieckmann & Associates provides a research and outreach platform on which both practices run efficiently.
His buy-side clientele include first time individual buyers who are relatively unsophisticated in the acquisition process as well as large private equity organizations which have acquisitions as the fundamental basis of their business model. He has also assisted corporations - from tiny to multi-billion dollar size - in expanding their scope and positioning through the acquisition process.
The primary objective in all the work performed by the firm is to locate attractive targets which are "proprietary" in nature, i.e. not represented by a sell-side agent. This provides the client with timing and pricing advantages.
The seller's broker: Pat Grandle, Sunbelt Business Brokers: Chicago business broker Pat Grandle can help you sell a business in Chicago, Illinois and the surrounding area.
Pat brings to Sunbelt a wealth of knowledge and expertise related to small and medium- size companies. Over the past two decades, she has held several sales, marketing and leadership positions and managed several disciplines at a vice presidential and ownership level. This was at a highly successful, family-owned manufacturing company in the mid-west primarily serving the automotive marketplace. She spent her entire professional career at this company until it closed in 2009.
This experience has allowed her the ability to build relationships with high-level personnel and close large deals in heavily competitive environments.
Pat has extensive professional, corporate, and sales experience with a specialty in marketing. She first demonstrated her career strengths and critical thinking skills when she obtained a degree in business management and a minor in psychology. She also brings substantial life experience to her work as a business broker, having served the business communities in Mexico and Europe.
Pat has served as a member of several associations including the American Marketing Association (AMA) and Society of Automotive Engineers (SAE). She was Chair of the Society of Automotive Engineers International Trade Show Committee for two years. In addition, she spent time in the community as Chairperson of the Indian Boundary YMCA and as board member of her home owners association.
The Lawyer and Moderator: William A. Price, of growthlaw.com. The rule of thumb is that you will need about an inch of paperwork for every million dollars in a deal, and Bill has done his share to wipe out American forests. He has a proven track record of successful negotiations for mergers and acquisitions, business organization, successful legal briefs before the U.S. Supreme Court and other venues, shareholder rights litigation, and other negotiations for clients ranging from individual retail store owners to Fortune 50 companies. His clients come from Japan, Germany, Indonesia, Pakistan, and many other countries, as well as the U.S., for inbound and outbound purchase deals.
But if you find you're free at the last minute, just come!
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Business attorney Bill Price, social media marketing expert Brian Basilico, and business growth consultant Ellen Huxtable organize these free seminars for business owners and entrepreneurs. On the second Thursday of each month (except August), they offer networking time (with excellent coffee from our cosponsor, I Have A Bean!), a presentation by a local CEO or business expert, and a Q&A session.
Have ideas on topics you’d like the CEO Series to cover
or suggestions for CEOs who have interesting experiences to share?
Contact Bill Price at 800.630.4780 or email@example.com ...
or visit the CEO Series on Facebook.
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CEO SERIES: Local experts helping west suburban businesses prosper.
- Advantage Business Concepts (www.advantage-biz.com) offers customized solutions for achieving breakthrough strategies and tactics.
- B2b Interactive Marketing (www.B2b-im.com) can help you understand and implement social media/relationship marketing
- GrowthLaw (www.growthlaw.com) is a business-focused law firm dedicated to helping client businesses grow, including through purchase, merger or recapitalization.
- College of DuPage SBDC
- Congregational Church of Batavia Small Business Networking Group
- Entrepreneurial Roundtable, U of C-Booth Graduate School of Business
- First State Bank
- Fox Valley Computing Professionals
- Greater Naperville LinkedIn group
- I Have a Bean
- Joseph Associates International
- Kellogg Alumni Club of Chicago – West
- Knapp Center for Entrepreneurship, Illinois Institute of Technology
- Midwest Entrepreneurs Forum
When & Where
The CEO Series is the continuing project of three local firms dedicated to helping DuPage County businesses. GrowthLaw (Bill Price) is a business-focused law firm dedicated to helping client businesses grow. Advantage Business Concepts (Ellen Huxtable) offers customized solutions for your business on everything from effective time management through structuring for growth and recognizing strategic opportunities, and B2b Interactive Marketing Inc (Brian Basilico) helps companies and non-profits market their products and services through the effective use of online tools including: websites, blogs, eMail, social networking, Google, S.E.O., YouTube, and more.