What were the sellers’ motivations in deciding to pursue an exit?
Both of the sellers were at retirement age and desired to spend more time with family.
What challenges were unique to the sellers as they entered the marketplace?
The seller’s operation was very regional which limited the buyer pool. Additionally, despite strong customer tenure, there was some customer concentration present.
How did Tenney Group maneuver around the challenges?
As with other deals, we leveraged our network of industry contacts to find a buyer whose existing growth strategy needed what our client had to offer.
Key Takeaways for Other Business Owners:
Business owners serve themselves best when they don’t make assumptions or place limitations on their company’s worth, who might buy it, and why. Most businesses can be very valuable to the right buyer when connected at the right time.
