PPSA and M&A Transactions

Most owners of Australian businesses should be aware of the introduction of a significant piece of legislation earlier this year: the Personal Property Securities Act 2009 (Cth), now more commonly referred to as PPS.  For those not in the know, and even those that are...

The rise of the Boomer Buyer

Contrary to perceptions that the retirement of the Baby Boomers will exacerbate supply/demand imbalances in the market for buyers of privately-owned businesses, market trends in the United States are revealing a diamterically-opposed reality.  According to research...

Is this the new normal?

Since the onset of what has been termed the Global Financial Crisis – in typical Western shorthand, the GFC – in late 2008, the market for business exits has undergone a radical transformation. Unable – or at best, unwilling – to forecast with any confidence,...

Why it might pay to become a buyer

I was introduced to a new client recently who had taken great pains to set his business up for a successful sale.  Growth was solid, management strong, systems up to date and contracts in place with top clients at good margin.  The financial profile suggested an...

The 7 Deadly Sins of Business Sellers

I was reminded again recently by a now former client of how little most business owners know about and appreciate selling a privately-owned concern, how unrealistic their expectations are, and how loath they are to recalibrate their expectations based on market...