“Anson Sowby shares how he sold his business with over 50% of the payment made in an earn out. Great insight as to how earn outs work,” states Sam Thompson a Minneapolis business broker and president of Transitions In Business. “Anson also talks about the value he found with his M&A advisor and how they helped him narrow down his interested buyers”.
Anson Sowby started Battery, a creative advertising agency in 2013. Battery quickly won assignments from companies like Netflix and LEGO featuring A-list celebrities such as LeBron James, fueling their growth to 50 employees by 2019. That’s when Paris-based Havas decided to make an offer to buy Battery.
Sowby’s story is full of insights, including:
- How Battery recovered from a devastating year in 2016.
- The hidden benefit of interviewing M&A firms.
- When to hire a CFO.
- The three types of acquisitions.
- The surprising role your location can play in the value of your company.
- How to tell your employees you’ve sold your business.
- The secret to a win/win earn-out.
- The unexpected emotion Sowby felt after selling.