Herding Cats Towards the Exit

Herding Cats, How to Sell With Multiple Owners

Herding Cats Towards the Exit

When a company has over 20 owners, how do you get everyone onboard for a sale?

The answer – for Wayne Colonna, who purchased Automatic Transmission Service Group (ATSG) – was a lot easier to bring to fruition than he imagined.

When Colonna was approached by a strategic buyer in 2018, he wasn’t looking to sell. In fact, he presumed it would be too difficult with ATSG – a subscription service company that provides technical support and training for auto repair shops – being under an Employee Stock Ownership Program (ESOP).

The ESOP gave employees ownership interest in the company – in other words, Colonna needed their buy in to close the deal. Find out how an otherwise “tough conversation” turned into a breezy exit.

In this episode, you’ll learn:

  • Why the best time to sell your company is when someone is looking to buy
  • How an ESOP can motivate your buyer and simplify a valuation
  • How recurring revenue can be your winning ticket to an exit

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