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S
tartingmy professional career
as an attorney who advised
clients onmerger-and-acquisition
strategies as well as post-merger
integration issues, I was afforded a
unique vantage point fromwhich
to launch a promotional products
distributorship that later would
acquire and be acquired.
In 1996 I founded Corporate
Imaging Concepts as ameans to
satisfy the entrepreneurial spirit
that was part of my DNA. After
being a coach/lawyer, it was time
to be a player/owner. Twenty
years later, I have acquired a
distributorship, acquired the
regional offices of competitive
companies as well as their
individual salespeople and,
more recently, sold amajority
interest in Corporate Imaging
to Berkley Capital—the private
equity investment vehicle for W.R.
Berkley, a private equity investment
firm focused on long-termgrowth.
Done right, being acquired can
be the pinnacle of your career.
As Corporate Imaging continues
to acquire other businesses and
offices, I stopped to reflect on the
lessons I have learned along the
way, albeit not always gracefully.
Maximize the value of your asset,
not just the sale price.
No doubt
the company you built was the
result of your economic risk, grit,
determination and toil. And, you
know that you counted onmany
others to build your enterprise.
Whether it was the first employee
who blindly trusted your vision,
the supplier who extended your
payment terms at a time of critical
need, or your spouse who gave you
the freedom to work those extra
days and nights, they all had an
important role in your success.
When evaluating options,
understanding what this new
partnershipmeans for your
employees and suppliers, spouse
and family, all constituents, is
vital.There will be tradeoffs and
you will have to be comfortable
with how you resolve them. While
maximizing the value of your
investment should be the goal, you
need to clearly define what “value”
means to you. Is it job security for
you and/or others? Do you and you
alone receive the treasure? Should
you ensure that all suppliers
are paid from the proceeds?
There aremany questions to
contemplate. Make certain the
structure of the transaction leaves
you comfortable with what the
Like A Good
Marriage,
FindingThe
Right Partner
TakesTime
by
Brian Abrams
Ready
To Be
Acquired?
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NOVEMBER 2016
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