I have an HTG partner in a large metro (so obviously this is not us at HTS) who is poised to do some acquistion activity in 2008 and wants to know if there are any companies meeting his profile who are ready to exit the ownership responsiblities. Here are the guidelines they are wanting to consider:
Tier 1
- Metro area greater than 750k
- Services over $1M
- Services at 40% or more of revenue
- Senior manager who would stay on
- US only, no California
- Not massively in debt
Tier 2
- Metro area greater than 250k
- Services over $500k
- Services at 30% or more of revenue
- Senior manager who would stay on
- US including California
- Debt ok
I believe 2008 will be a year of consolidation and industry change. More and more partners are considering exit strategies and trying to figure out how they will leave the industry. Have you considered how many companies are owned by older ownership who entered the industry in the late 70's or early 80's and are now ready to slow down. I believe it is a dynamic our industry has not prepared for or experienced prior to this time. The next 3-5 years will be full of change for many companies who have been leaders in this industry. So I believe it is a great time to be in the growth business because there will be a lot of opportunity for change. If you fit the profile above and are interested in an initial introduction please email me. Only do so if you are really interested in selling your company and at a reasonable rate. This is not an exercise to see what your business is worth. It is an opportunity for someone who is ready to offload the ownership responsbility to another partner but continue in managing the location(s). So only truly legitimate interest should contact me, and realize that crazy multiples are not legitimate. I am not going to broker a deal but would love to keep the HTG family within the family!
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