A Conversation on Buying Pet Services, HR in M&A: A DEEPER Dive: The Power of SWOT
This Week On How2Exit, Chatting With an Expert on Why Pet Services , A Throw Back to HR in M&A - DEEPER - The Power of SWOT
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This week on How2Exit:
Kevin Moyer is the practice leader of Transaction Strategy and Transformation Group at Sachs LLP. His group focuses heavily on buy and sell side diligence as well as integration and transformation events. Before joining Sachs, Kevin was part of Ernst and Young Parthenon's transaction strategy and execution team. As a child, Kevin wanted to be a weatherman, but he soon found out his predictions were as poor as the weatherman’s. Through working with his grandfather, a real estate developer, Kevin gained experience in running businesses, looking at financials, and dealing with banks.
Kevin Moyer is a private equity specialist for Sachs Capital, specializing in the lower middle market. Throughout his career, he has gone from corporate credit analysis to loans syndication, and ultimately to running acquisitions for a single-family office in New York City. He and his team specialize in due diligence for the sell side of transactions, where they have seen a variety of creative financials. On one occasion, they even found that the business owner had paid for their child's wedding through their business.
The conversation is about the difference in how smaller business owners treat their finances compared to larger, more structured organizations. The speaker mentions how many smaller business owners don't have a clear intention to sell and may treat their business as a piggy bank, spending on vacations and other personal expenses that have no business purpose. Kevin Moyer is currently working on launching the first-ever veterinary M&A conference in conjunction with
KPMG. He notes that private equity has been increasingly interested in investing in the veterinary industry in the last 12-18 months, with a particular focus on pet products, services, and clinics. Moyer believes that the veterinary industry is relatively recession-resistant, and he encourages investors to look at the pet space as it can generate revenue. He also suggests looking into setting up a Medical Service Organization (MSO) to own a veterinarian clinic, as in most states veterinarians are the only ones able to own such a clinic.
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Throwback -In case you missed it.
Dr. Klint Kendrick is an experienced M&A leader with over 10 years of experience. He has worked on nearly 100 M&A transactions and has helped onboard CEOs and their teams in larger organizations. He is the chair of the HR Mergers and Acquisitions Roundtable and author of two books for HR practitioners working in the M&A space. Dr. Kendrick’s first experience with M&A was as an acquired employee. His company was part of a roll-up strategy and eventually sold to a larger company. His experience with M&A was not a positive one, as his compensation was changed drastically and he was worried about how he was going to pay his rent and buy groceries. This experience has stayed with him throughout his career and has motivated him to be mindful of the people involved in M&A transactions.
Dr. Kendrick had been in the industry for 10 years, after having an unexpected experience when a company he was working for acquired another. He had been unaware that he would suddenly have new team members reporting to him and was caught off guard. His experience with not being informed about the acquisition led him to become passionate about taking care of people, leadership and culture issues when it comes to M&A. He is now working with his fourth company to lead an M&A practice and make sure people are taken care of during these transactions. Skelton was impressed with the Dr. Kendrick's background and thought it was something they hadn't covered yet on the show.
Klint Kendricks and Ron discussed the importance of due diligence when it comes to mergers and acquisitions (M&A). In the United States and Europe, the brokers and those who work on the diligence side focus primarily on the financials. This is because companies are making decisions on how to spend their money, and they want to make sure it is well spent. However, statistics from Harvard show that 70-90% of all M&As fail to deliver deal value, and 70% of all deals destroy shareholder value.
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This week’s “DEEPER” Dive: The Power of SWOT: Mastering Business Decisions When Buying or Selling a Small Business
In the chess game of buying or selling a small business, every move counts. Each decision can pivot the outcome from success to failure and vice versa. But how can you forecast the impact of your actions? Enter the magical world of SWOT Analysis. In this strategy-laden universe, SWOT isn't just a quirky acronym; it’s the guiding light that provides a comprehensive assessment of a business's internal strengths and weaknesses, along with external opportunities and threats. By the end of our journey, you'll be wielding SWOT analysis like a wizard casting spells, ensuring every business decision is a checkmate.
Let’s dive in.
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FROM THE Editor:
Disclaimer: This newsletter is provided for informational & educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. We are not attorneys, tax, or financial advisors and not qualified to give any such advice.