Tag Archive for: SellSideAdvisory

LYNN’S PARADISE CAFÉ HAS BEEN ACQUIRED BY FRESH CAPITAL GROUP

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ABOUT THE TRANSACTION:

The former Lynn’s Paradise Café property in Louisville, Kentucky has been acquired by Fresh Capital Group (“Fresh Capital” or the “Buyer”).

Lynn’s Paradise Café opened its doors in 1991 and became one of Louisville’s most recognizable restaurant destinations. The Café attracted a diverse clientele through its distinctive atmosphere, creative menu, and unconventional approach to dining. For more than two decades, owner Lynn Winter developed a concept centered around food, entertainment, and community. The colorful property became closely associated with the Café’s personality and Winter’s original vision. Following the Café’s unexpected closure, the property presented a unique opportunity for a new owner. However, identifying the appropriate buyer required recognizing both the property’s economic potential and its distinctive character.

STRATEGIC FIT WITH FRESH CAPITAL GROUP: 

Fresh Capital Group is a Nashville-based commercial real estate development and management company focused primarily on the Southeastern United States. At this time, the company manages a real estate portfolio valued above $350 million. Fresh Capital specializes in restaurant build-to-suit projects and multi-tenant restaurant developments. Additionally, its portfolio includes office buildings, single-tenant properties, and retail centers.

The company’s experience with restaurant properties makes the former Lynn’s Paradise Café location a natural addition to its portfolio. Moreover, Fresh Capital brings development expertise and financial resources to the property. Fresh Capital also emphasizes preserving properties that contribute economic and cultural value to their surrounding neighborhoods. That philosophy aligns well with the history and recognizable character of the Lynn’s Paradise Café property. Lynn Winter expressed confidence in the buyer’s financial resources and operating capabilities. She also emphasized the value of finding an experienced organization capable of moving the property forward.

ALLSTON ADVISORY GROUP’S ROLE: 

Following the Café’s closure, the restaurant and property remained on the market for approximately twelve months without generating a satisfactory offer. Thereafter, the sellers engaged Allston Advisory Group as their exclusive financial advisor. Allston performed an Analysis of Value and evaluated the property’s marketability under the circumstances. The firm also prepared a comprehensive Confidential Information Memorandum presenting the opportunity to prospective buyers.

Nest, Allston developed a targeted marketing process and contacted qualified buyers locally, regionally, and nationally. The outreach included prospective buyers with the financial resources and experience necessary to pursue the opportunity. Throughout the process, Allston managed communications and maintained confidentiality on behalf of the sellers. The firm also facilitated negotiations and worked with the parties as the transaction progressed toward closing.

As a result, the transaction provided the seller with the desired liquidity after an extended marketing period. The property also transitioned to an established and well-capitalized new owner with significant restaurant real estate experience. The successful transaction demonstrates the value of targeted buyer identification when traditional marketing efforts fail to produce an acceptable outcome.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an independent mergers and acquisitions advisory firm serving privately held lower middle market companies. The firm provides mergers and acquisitions, business valuations, and exit strategies. Allston works closely with business owners to understand their objectives and prepare their companies for the transaction process. The firm then manages a disciplined and confidential sale process from initial preparation through closing.

For additional information on this transaction, please contact one of our advisors.

NEWS SOURCES:

Beating Double Taxation Using Personal Goodwill

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Purchase price represents only one measure of a successful business sale. Sellers should also consider how transaction structure affects their after-tax proceeds. For certain owner-managed businesses, personal goodwill in a business sale may create a valuable tax planning opportunity. However, the facts must support its existence and individual ownership.

Goodwill represents intangible value beyond a company’s identifiable assets. Customer relationships, reputation, expertise, and industry connections may all contribute to goodwill. Typically, the company owns much of this value. In some businesses, however, a portion may belong personally to the individual shareholder. This distinction matters because personal goodwill represents an asset owned by the individual rather than the corporation. Therefore, the individual may sell that goodwill directly to the buyer.

The potential tax benefit may become particularly significant when selling a C corporation. An asset sale may otherwise expose proceeds to both corporate and shareholder taxation. When properly structured, proceeds allocated to personal goodwill bypass the corporation. Instead, the shareholder receives consideration directly for an individually owned asset. The shareholder may also receive long-term capital gain treatment when applicable requirements are satisfied. Meanwhile, the buyer generally receives an amortizable intangible asset.

Still, personal goodwill cannot simply be created during negotiations. It must exist before the transaction and remain owned by the individual. Several factors may support personal goodwill in a business sale:

  • Personal Relationships: Customers, suppliers, or referral sources have meaningful relationships with the individual owner.
  • Reputation and Expertise: The owner’s reputation, knowledge, or experience contributes directly to the company’s success.
  • Individual Ownership: The individual, rather than the corporation, owns the goodwill being transferred.
  • No Employment Agreement: The owner has not transferred personal goodwill through an employment agreement with the corporation.
  • No Noncompete Agreement: The owner has not transferred personal goodwill through a noncompetition agreement with the corporation.
  • Supportable Valuation: A qualified valuation establishes a reasonable allocation between personal and enterprise goodwill.

These requirements make early planning essential. Sellers should determine whether personal goodwill exists before negotiating the transaction structure with prospective buyers. A valuation professional may then quantify the personal goodwill when the facts support it. The transaction documents should also clearly reflect the ownership and transfer of that asset. At the same time, the seller’s tax advisor and transaction attorney should evaluate the proposed structure. The M&A advisor may coordinate these considerations with the broader transaction economics.

Personal goodwill in a business sale will not apply to every transaction. However, qualifying owners should evaluate the opportunity before entering the sale process. When properly supported and structured, personal goodwill may reduce tax exposure and increase the seller’s after-tax proceeds.

SOURCES:

https://www.foxfin.com/personal-goodwill

https://www.thetaxadviser.com/issues/2015/apr/tax-clinic-07-apr-2015/

TRAFFIC BUILDERS HAS BEEN ACQUIRED BY GS MARKETING

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ABOUT THE TRANSACTION:

GS Marketing, Inc. (“GSM” or the “Buyer”) has acquired Traffic Builders, Inc. (“Traffic Builders” or the “Company”).

Headquartered in Louisville, Kentucky, Traffic Builders is a multichannel direct marketing agency serving more than 300 automobile dealerships nationwide. The Company works with dealerships representing a broad range of automobile manufacturers. With approximately 20 full-time employees, Traffic Builders specializes in results-driven automotive marketing programs. Its programs help dealerships attract new customers, increase existing customer activity, and reengage customers who have stopped doing business. For nearly two decades, Traffic Builders has developed integrated marketing solutions across multiple delivery platforms. The Company combines automotive industry knowledge with targeted marketing strategies designed to generate measurable customer activity.

STRATEGIC FIT WITH GS MARKETING:

Headquartered in Houston, Texas, GS Marketing is a full-service direct marketing company serving the automotive industry. GSM has nearly three decades of experience working with automobile dealerships, dealer groups, and manufacturers. The company employs approximately 85 associates and operates as part of The Friedkin Goup. GSM provides marketing products and services designed specifically for automotive retailers and manufacturers.

The acquisition combines two companies with extensive experience serving automobile dealerships. In particular, Traffic Builders adds established customer relationships, integrated products, and additional marketing capabilities to GSM’s existing platform. GSM President Shelley Washburn highlighted Traffic Builders’ experience and integrated marketing products as significant benefits of the combination. She also noted the companies’ shared commitment to customer satisfaction and engaging workplace cultures.

Following the acquisition, GS Marketing continues operations in both Houston and Louisville. The two locations provide complementary capabilities within the combined organization. Specifically, the Houston offices focus on technology and digital marketing. Meanwhile, the Louisville facility concentrates on expanded print production and related marketing capabilities. The combination allows GSM to broaden its automotive marketing platform while maintaining Traffic Builders’ established Louisville presence. Furthermore, GSM expects the acquisition to strengthen its position within the automotive marketing industry.

ALLSTON ADVISORY GROUP’S ROLE:

Allston Advisory Group served as the exclusive financial advisor to Traffic Builders, Inc. and its owners. Allston performed an Analysis of Value and prepared the Company for the sale process. Additionally, Allston developed a comprehensive Confidential Information Memorandum presenting Traffic Builders’ operations, financial performance, capabilities, and growth opportunities. The firm also identified qualified strategic and financial buyers capable of completing the transaction.

Thereafter, Allston conducted a confidential and competitive sale process involving both strategic buyers and private equity groups. The process created competition while allowing the sellers to evaluate multiple potential transaction alternatives. Allston managed buyer communications, coordinated management discussions, and assisted the sellers throughout negotiations. The firm also worked alongside the sellers’ other professional advisors during due diligence and closing. As a result, Traffic Builders has transitioned to an established strategic buyer with complementary capabilities and substantial automotive industry experience. The transaction also provides GSM with additional resources, customers, and capabilities to support its continued growth.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an independent mergers and acquisitions advisory firm serving privately held lower middle market companies. The firm provides mergers and acquisitions, business valuations, and exit strategies. Allston works closely with business owners to understand their objectives and prepare their companies for the transaction process. The firm then manages a disciplined and confidential sale process from initial preparation through closing.

For additional information on this transaction, please contact one of our advisors.

How to Compare Competing M&A Offers

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Business owners receiving multiple offers may naturally focus on the highest purchase price. However, headline price tells only part of the story. Two buyers may offer the same purchase price while providing significantly different economic outcomes. Therefore, comparing M&A offers requires evaluating both price and transaction structure.

The analysis should begin with the consideration each buyer proposes. Cash at closing generally provides the seller with the greatest certainty and immediate liquidity. However, many transactions include other forms of consideration. These may include seller notes, earnouts, buyer stock, rollover equity, or deferred payments. Each form carries different risks and potential rewards. A $2 million seller note, for example, does not equal $2 million cash at closing. The seller must wait for payment and assume the buyer’s credit risk. Additionally, the note’s interest rate, maturity, collateral, and payment terms affect its value.

Earnouts require similar analysis because payment depends on future performance. Sellers should evaluate the performance requirements, measurement period, payment terms, and their ability to influence results. Rollover equity presents a different tradeoff. The seller gives up current liquidity in exchange for continued ownership and potential future appreciation. Buyer stock may also create uncertainty. Its value depends on the buyer’s financial performance, liquidity, transfer restrictions, and other investment considerations.

Beyond consideration, sellers must examine adjustments that affect actual proceeds. Working capital requirements, assumed debt, transaction expenses, and other obligations may materially change cash received at closing.

Escrows and indemnification holdbacks may further reduce immediate proceeds. Although these amounts remain part of the transaction consideration, the seller may not receive them for months or even years.

Tax consequences also deserve careful consideration. Different transaction structures and forms of consideration may produce substantially different after-tax proceeds.

Once these factors are understood, the seller can compare each offer on a cash-equivalent basis. This analysis considers the timing, liquidity, risk, and probability of receiving each payment. For instance, a lower-priced offer with substantial cash at closing may outperform a higher offer containing significant contingent consideration. Conversely, rollover equity may make another offer attractive when the seller wants continued participation.

An experienced M&A advisor will help owners evaluate these differences and identify the tradeoffs within each proposal. Legal and tax advisors should also evaluate contractual protections and after-tax consequences.

A competitive sale process gives sellers the opportunity to compare more than purchase prices. It allows them to evaluate price, structure, certainty, timing, and risk across multiple buyers. Comparing M&A offers requires looking beyond the headline number. The strongest offer is the one that best balances economic value, certainty, and the seller’s transaction objectives.

From Reported Earnings to Normalized EBITDA

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A company’s historical financial statements tell buyers what happened. However, they may not accurately represent the earnings a buyer expects after closing. Privately held businesses often contain expenses, income, or accounting treatments that require further analysis. Normalized EBITDA adjustments help identify the company’s representative operating performance.

The process begins with reported earnings. From there, an M&A advisor evaluates financial results and identifies items that may not continue under new ownership. For example, an owner may receive compensation significantly above or below a market rate. Adjusting compensation to market levels may provide a more representative earnings picture. Likewise, owners may run personal or discretionary expenses through the business. These expenses may include automobiles, travel, insurance, or other owner-related benefits.

Nonrecurring expenses may also affect reported earnings. Litigation costs, relocation expenses, unusual repairs, or one-time professional fees may warrant adjustment under appropriate circumstances. Conversely, normalization is not limited to adjustments that increase EBITDA. Nonrecurring income or unusually low expenses may require downward adjustments.

Common categories of normalized EBITDA adjustments include:

  • Owner compensation and benefits
  • Related-party transactions
  • Personal or discretionary expenses
  • Nonrecurring income and expenses
  • Non-operating income and expenses
  • Related-party rent above or below market
  • Unusual accounting treatments
  • Other items unlikely to continue after closing

Each proposed adjustment should be reasonable, supportable, and relevant to the transaction. Buyers rarely accept adjustments simply because a seller labels an expense as nonrecurring. Instead, sellers should provide documentation supporting the nature and amount of each adjustment. Invoices, payroll records, contracts, leases, and financial statements may provide useful evidence.

More specifically, adjustments should reflect the expected economics of the business under new ownership. They should not create an artificially favorable representation of future performance. This distinction becomes particularly significant when buyers apply a valuation multiple to EBITDA. Even a modest adjustment may materially affect indicated enterprise value when multiplied several times. For instance, a supportable $100,000 adjustment affects value beyond the adjustment itself. At a 5.0x multiple, that adjustment represents $500,000 of indicated enterprise value.

Still, sellers should expect buyers to scrutinize every adjustment during due diligence. Aggressive or poorly documented adjustments may undermine credibility and create disagreements later in the process. For that reason, an experienced M&A advisor should identify and support adjustments before presenting the company to prospective buyers. Doing so creates a more credible financial presentation and reduces avoidable disputes.

Properly developed normalized EBITDA adjustments help buyers and sellers evaluate the same underlying earnings base. That common starting point supports more informed discussions about value, price, and transaction structure.

Calculation of Value: The Precursor to an Exit

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Business owners considering a sale should understand their company’s potential value before beginning the transaction process. A Calculation of Value may provide an efficient starting point for that analysis. In a calculation engagement, the valuation professional and client agree on the valuation approaches and procedures to perform. Therefore, the engagement generally has a narrower scope than a formal business valuation.

The valuation professional applies the agreed procedures using relevant financial, operational, and market information. The resulting calculated value may be expressed as a single amount or a range. Typically, a calculation engagement may include the following characteristics:

  • A defined and more limited scope
  • Agreed valuation approaches and methods
  • Agreed procedures and analytical requirements
  • Lower professional fees than a comprehensive valuation
  • A calculated value expressed as an amount or range

For business owners contemplating a sale, the Calculation of Value may serve several practical purposes. First, it establishes a preliminary reference point for evaluating potential transaction value. Equally, the process allows owners to compare their expectations with financial performance and marketplace evidence. This comparison may reveal a significant difference between expected value and supportable transaction value.

In that event, an owner may decide to postpone a sale and focus on improving the business. Management may then address specific factors affecting value before approaching prospective buyers. Among other areas, owners may improve profitability, strengthen management, diversify customers, or reduce owner dependence. They may also improve financial reporting, develop recurring revenue, and address operational weaknesses.

A calculation engagement may also help owners evaluate whether a transaction supports their personal financial objectives. If the expected proceeds fall short, additional preparation may provide a better course of action. Crucially, the calculated value should not create an artificial ceiling for the company’s eventual sale price. Different buyers may assign different values based on their strategies, synergies, financing, and return requirements.

For this reason, an M&A advisor should consider the calculated value alongside potential buyer motivations and current market conditions. A competitive sale process may then test those assumptions against actual buyer interest. Moreover, performing this analysis early may identify issues that buyers may uncover during due diligence. Addressing those issues beforehand may reduce surprises and strengthen the company’s preparation for the market.

A well-executed Calculation of Value gives owners a more informed starting point for the M&A process. It may clarify expectations, identify improvement opportunities, and support better decisions about whether and when to pursue a sale.

Building a Business That Is Ready for an Exit

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Business owners spend most of their time building, operating, and growing their companies. Daily responsibilities naturally take priority over planning for an eventual exit. As a result, many owners postpone exit planning until retirement or a potential sale appears on the horizon. By then, meaningful changes may become difficult to implement.

Every owner will eventually transition away from their business. A sale, succession, retirement, or an unexpected event may determine when that transition occurs. For many owners, the company also represents their largest asset. Creating an exit-ready business should therefore become part of their long-term strategic planning.

Early preparation gives owners time to strengthen the company before a transaction becomes necessary. More importantly, it allows them to make improvements while they still control the timing. The process should begin with understanding the owner’s objectives. Financial needs, desired timing, family considerations, and post-closing involvement may influence the appropriate exit strategy.

Once those objectives become clear, the owner may evaluate whether the company is capable of supporting them. A preliminary business valuation, or Analysis of Value, will establish a baseline and identify potential gaps in value. An Exit Readiness Assessment may provide additional insight into factors affecting marketability. From there, owners may prioritize improvements that strengthen the company and reduce perceived risk.

For example, management may need greater depth before the owner can leave daily operations. Customer concentration may require diversification before buyers become comfortable with revenue stability. Likewise, financial reporting may need improvement to provide buyers with reliable and timely information. Operating procedures may also require documentation to demonstrate that the company can function without the owner. Other value drivers may include recurring revenue, sustainable growth, employee retention, competitive advantages, and scalable operations. Addressing these areas takes time, which makes early preparation particularly valuable.

Along the way, business owners should measure progress and periodically reassess the company’s value. Changes in performance, industry conditions, and buyer demand may also affect the appropriate exit timeline. Creating an exit-ready business does not mean an owner intends to sell immediately. Instead, it creates flexibility and expands the owner’s alternatives when circumstances change.

Just as importantly, many exit-planning initiatives may improve the business before any sale occurs. Stronger management, better reporting, and efficient operations may increase profitability and reduce owner dependence. An experienced M&A advisor will help owners evaluate value, readiness, potential improvements, and transaction alternatives. This process may begin years before the company enters the market.

The best time to prepare for an exit is before an owner needs to. A well-prepared business gives its owner greater control over when, how, and under what circumstances to transition from the business.

2014 M&A Market: What Deal Multiples Reveal About Business Value

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The 2014 M&A market continued to provide favorable conditions for many middle market business owners considering a transaction. Transaction activity remained strong, while reported valuation multiples increased during the second half of the year.

The Alliance of Merger & Acquisition Advisors (“AM&AA”) represents professionals serving the middle market mergers and acquisitions industry. Each year, AM&AA surveys its membership regarding completed transactions and prevailing market conditions. Through its Deal Stats Transaction Survey, AM&AA gathered information about sell-side transactions completed during the second half of 2014. The survey examined transaction volume and multiples of earnings before interest, taxes, depreciation, and amortization (“EBITDA”).

Encouragingly, both average and median EBITDA multiples increased during the survey period. The average multiple increased from 5.52 times EBITDA to 5.64 times EBITDA. Similarly, the median transaction multiple increased from 5.12 times EBITDA to 5.37 times EBITDA. Deal activity also increased, while overall transaction dollar volume remained above historical levels.

The survey reported the following average EBITDA multiples by industry:

  • Construction – 4.87x
  • Manufacturing – 5.68x
  • Wholesale Trade – 6.54x
  • Retail Trade – 6.02x
  • Professional Services – 5.32x

Of note, these industry averages provide useful market observations rather than predetermined valuation benchmarks. Individual companies may transact above or below these multiples based on their specific characteristics. The survey also identified a positive relationship between transaction size and EBITDA multiples. Generally, larger companies attracted higher valuation multiples than smaller companies.

Furthermore, company revenue showed a similar relationship with transaction multiples. These findings reflect the advantages that buyers may associate with greater scale, market position, and organizational depth. More revealingly, AM&AA members identified growth opportunities and buyer synergies as principal reasons for higher EBITDA multiples. Those findings demonstrate why buyers evaluate much more than historical earnings when determining value. A strategic buyer may identify opportunities to expand products, eliminate overlapping costs, or enter new markets through an acquisition. Correspondingly, those opportunities may allow the buyer to justify a higher valuation than another prospective purchaser.

For business owners, the 2014 M&A market reinforces a fundamental principle of preparing for a sale. Strong EBITDA matters, but the quality and future potential of those earnings also influence buyer interest. Owners should focus on sustainable growth, scalable operations, strong management, and defensible competitive advantages. An experienced M&A advisor will then position those attributes effectively within a competitive sale process.

Preparing Your Business for Sale

Strengthening Your Business Before the Sale Process Begins

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The months and years before a sale may significantly influence how buyers evaluate a business. Strong financial performance matters, but buyers also consider risk, transferability, management, and future growth opportunities. Effective pre-sale business preparation addresses these factors before prospective buyers begin evaluating the company.

Strengthen the Financial Foundation

Owners should begin with accurate and timely financial reporting. Balance sheets should accurately reflect receivables, inventory, liabilities, debt, and other accounts. Management should resolve shareholder loans, obsolete inventory, and uncollectible receivables when appropriate.

Before buyer outreach begins, owners should also understand normal working capital requirements and historical capital expenditures. Financial statements should clearly support reported earnings. Owners should also document legitimate normalizing adjustments to develop a representative earnings base.

Reduce Dependence on the Owner

A business that depends heavily on its owner may create additional risk for a buyer. Owners should develop management responsibilities, decision-making authority, and accountability throughout the organization. Key employee retention also deserves attention. Appropriate compensation, incentives, or change-of-control arrangements may help retain employees through a transaction. As responsibilities become distributed, the company becomes less dependent on one individual for continued performance.

Address Operational Risks

Owners should review significant contracts, leases, licenses, intellectual property, and supplier relationships before going to market. Change-of-control provisions or nontransferable agreements may create complications during a transaction. Customer concentration, deferred maintenance, outdated systems, and undocumented processes may also attract buyer scrutiny. An Exit Readiness Assessment can help identify these issues from a prospective buyer’s perspective.

Demonstrate Future Opportunity

Buyers generally evaluate both historical performance and future potential. A credible growth strategy should identify realistic opportunities supported by management capabilities and financial resources. As evidence accumulates, successful initiatives become more compelling than projections alone. Management should track KPIs supporting growth assumptions and prepare reasonable financial projections.

Prepare Before the Marketplace Sets the Narrative

An experienced M&A advisor should begin pre-sale business preparation before the company enters the market. The advisor can work with the owner to identify potential transaction issues and prioritize improvements. An Exit Readiness Assessment may provide the framework for that process. Once marketing begins, buyers will form their own conclusions about the company’s strengths and weaknesses. Preparing early gives the seller an opportunity to address those weaknesses before buyers use them to evaluate risk, value, and transaction terms.

Defining Seller Objectives and Setting Realistic Expectations

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Every seller enters an M&A transaction with certain objectives. Purchase price usually ranks high, but it rarely defines success by itself. Business owners often have financial, professional, and personal priorities tied to a sale. Understanding those priorities should happen before the company enters the market.

Defining seller objectives gives the owner and M&A advisor a clear picture of the desired outcome. It also provides direction for the entire sale process. Some sellers want to maximize cash at closing and retire immediately. Others prioritize employees, retaining company or seller-owned real estate, or remaining involved after closing. The most common seller objectives include:

  • Purchase Price: Achieving an acceptable value for the business.
  • After-Tax Proceeds: Maximizing the amount retained after taxes and transaction expenses.
  • Transaction Structure: Evaluating an asset sale, equity sale, or another appropriate structure.
  • Seller Involvement: Determining whether the owner retires, remains employed, or assists during a transition period.
  • Employees and Family Members: Addressing the future roles of key employees, management, or family members.
  • Company/Seller-Owned Real Estate: Deciding whether to sell, retain, or lease company-owned or seller-owned facilities.
  • Company Legacy: Preserving the company’s name, culture, reputation, or community presence.
  • Closing Certainty: Selecting a qualified buyer capable of financing and completing the transaction.

Identifying these objectives represents only the first step. The seller must also determine whether the marketplace can realistically support them. Here, the M&A advisor plays a critical role. The advisor may compare the seller’s expectations with company value, buyer demand, and likely transaction structures. A preliminary business valuation will establish a reasonable value range before approaching prospective buyers. An Exit Readiness Assessment may also identify obstacles or perceived risks affecting other seller objectives.

With realistic expectations established, the M&A advisor will design a sale process around the seller’s priorities. Buyer selection then involves much more than comparing purchase prices. One buyer may offer the highest price but require significant seller financing. Another may offer more cash, protect employees, and provide greater closing certainty. These differences require tradeoffs. Clearly defined objectives make those decisions easier and help prevent negotiations from losing direction and momentum.

Unexpected issues may still arise during negotiations and due diligence. Therefore, open communication between the seller and M&A advisor should continue throughout the transaction. The advisor must understand which seller objectives are essential and where flexibility exits. This alignment helps the seller navigate challenges, evaluate tradeoffs, and remain focused on the desired outcome.

A successful business sale does not happen by accident or simply produce the highest purchase price. It requires months, sometimes years, of careful planning to achieve a transaction that best satisfies the seller’s financial, professional, and personal objectives.

Allston Advisory Group is an experienced boutique M&A advisory firm providing a variety of services to lower middle market companies. See our footer for contact information.

Louisville, KY Office
(502) 742-2933
[email protected]
P.O. Box 70964
Louisville, KY 40270

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(310) 905-4202
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