Punching Out! Timing: When is the Best Time to Sell?
A few of the top questions we receive relate to the timing of the sale of a business. The first is, “Is now a good time?” The second one is, “How are market conditions?” These are the top FAQs. The ideal time to sell is when the business is growing, there are no major issues... Read More →
Punching Out! The PCB Sector – What Buyers Look for and Recent Deals
The past few months have seen a rash of PCB deals in North America, for a variety of reasons. Here are some of the deals completed during the past eight months: Advanced Circuits’ acquisition of Coastal Circuits (Nov. 2015) and Micom (April 2016) KCA/Marcel merger, by private equity firm HCI and former TTM COO, Shane... Read More →
Punching Out – How to Sell Your PCB – Assembly Shop
You are thinking of selling your PCB or assembly shop. Perhaps you are contemplating retirement, you have no successors, and the thought of going to the office on Monday is driving you crazy. This column is designed to help your planning efforts. Future columns will go deeper into each subject. The actual sale process typically... Read More →
Punching Out – Putting Together the Deal Team
When preparing to sell, remember the old saying, “He who represents himself has a fool for a client.” While many owners might be tempted to go it alone, in my experience it pays to have a deal team to help prepare a company (and the owner) for a sale. A typical deal team would consist... Read More →
Punching Out – The Additive Process: Tips on How to Buy a Board Shop or Assembly House
One of the quickest ways to grow a business is to acquire another business. At the same time, acquiring a business can be risky, and a really bad deal may put your original business in jeopardy. Here are some tips on how to make acquisitions. First Layer: Planning It is important to decide if making... Read More →
Punching Out! Your Baby’s Ugly, Now Get Over it – How to Work with Buyers
Here’s a scenario: An owner has gone to market and is starting to get feedback from buyers, and shockingly, not everyone appreciates the hard work and achievements that went into the business. Buyers may not understand the business, or they may be trying to position things for a low offer. In any case, it is... Read More →
Catching up with…Tom Kastner
When is the right time to sell your board house? Who is going to buy it? What is a buyer looking for in a PCB fabrication business? These are questions I hear all the time particularly in the past few months as many owners are reaching an age when they are thinking about retirement. So... Read More →
Punching Out! What the Heck is Adjusted EBITDA?
If you are looking to sell or buy a business, you will most likely come across the term ‘adjusted EBITDA.’ Other common terms are adjusted cash flow, owner’s discretionary earnings, earnings after add-backs, etc. What do these terms mean, and why are they important? EBITDA is an acronym for earnings before interest, taxes (on income),... Read More →