Two weeks ago, Tom Fochtman, Ceibass CEO, took a couple of days of “meet & greets” with private equity (PE) investors, owners, executives, lenders and advisers to lower to middle market companies at the Rocky Mountain Corporate Growth Conference sponsored by the Association for Corporate Growth.
His focus? To stay aware of the heartbeat of the market for lawn & landscape business owners looking to sell their businesses. Here are more of his insights:
With low cost of capital and good earnings, things are looking solid for sustained expansion. The mood here is green light go, with just a little more yellow light on the horizon.
Strategic buyers, looking to make a purchase and then grow the company through acquisition, are on the rise! The market is open and alive and looking for action.
The process is getting tougher out there! Buyers are more discerning than ever. Due diligence is much more meticulous, processes are taking longer.
So make sure you have a well-run company. To become a target for PE get super disciplined with your accounting practices and financial systems. And it’s imperative that you have solid management team.
And all buyers seem to agree that getting a professional to help you prepare your business for sale and guide you through the process is a huge plus.