New Era Group is a Canadian Family Owned and Operated company that today is joined by third generation family members. As boots on the ground owner operators, we know the real difficulties experienced by entrepreneurs who own and run small to medium sized manufacturing businesses. As owner operators who have partaken in the sale and purchase of industrial manufacturing businesses, we know first-hand the key things to consider when exploring the process of selling you business. Here are some things to keep top of mind.
1. Plan Ahead
Even if you’re planning a sale a few years down the road, the process of preparing a business for sale doesn’t happen overnight. The process should be underway long before looking for a buyer.
2.Consider A Partial Sell-Off
You may not be planning to retire just yet – sometimes, business owners prefer to step back gradually by reducing their ownership and participation over time. A variety of solutions are available to help you with this goal. Developing a partnership with a group, for example, can let you maintain a degree of control over the business while reducing ownership risk, allowing you to take some “chips off the table” and adjust life accordingly.
3.Preserve Your Legacy
You may be concerned about finding a buyer that will retain family employees and trusted personnel. With the future success of your business on the line, finding the right buyer can be a source of stress and uncertainty. Make sure you find a buyer who shares your philosophy and helps you devise a transition strategy that makes sense for both sides.
A Vendor Take Back (VTB) is a non-cash instrument, usually an unsecured note, accepted by the sellers of a company as partial payment for the sale of their business. Generally, a VTB will bridge the price gap between the price a seller requires and what a buyer can, or will pay, in cash.
New Era Group’s Criteria & Offering
To date, majority of our growth has occurred through acquisition. Our distinctive management team, comprised of entrepreneurs with boots on the ground operation experience, have worked with countless professionals, merchant banks, and business owners to complete dozens of acquisitions. Whether you are familiar with the sale process or not, trust a member of the New Era Group leadership team to educate you on the process and provide meaningful advice. To learn more about our criteria and offering and whether our group could be a great home for your business, please do not hesitate to contact us or learn more on our Acquisitions page!