When It’s Time to Sell. . .

pP: How should an owner prepare/position the company for a merger or acquisition? How do you communicate to the industry the company’s interest in such a transaction?

Hornell—For any business, it is very important that a capable and experienced management team be developed prior to a sale. Most buyers do not have management resources that can be placed into an acquired company. Having a complete team in place lowers the risk profile to the buyer and allows the value to be maximized.