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