When it was time to sell the business that I had started up and operated for over 30 years, I knew that I would have one chance to maximize the company’s value and finally reap the reward of my lifetime of hard work, I thought back to all the communication I had with Scott Fife, from Paragon Ventures, through the years and I knew that he would be the right person that would be honest with me and would present my company in the best possible light to potential buyers. He didn’t throw out high multiples just to try to entice me to sign with him but discussed what he was seeing in the market and where my business would fit into the overall picture.
Paragon worked with me to get a true picture of what my business would be worth at this time and what type of transaction I could expect from the various buyers. After we agreed to a partnership, he was particularly good at explaining what would happen and how I needed to remain focused on the business and let him worry about working with the buyers on getting a transaction in place. We quickly received several offers and we discussed which would be the best for my situation and chose to move forward with that buyer. The best news was that Scott was able to get 15% more than what he had quoted as his high valuation number to me due to his ability to get multiple offers and negotiate with our chosen buyer. Scott managed the entire diligence and sale process and allowed me to focus on growing the business, so that the financial numbers remained at a level acceptable for the buyer. He worked with the buyer and my attorney to get the best deal in place for me.
Now that I have had a few weeks to settle back and think about the overall sale process, I am so glad that I chose to work with Scott and Paragon Ventures. Their team understands how to sell a business in this changing healthcare industry. They brought many potential buyers to the table and worked with me to choose the best for my situation. I would recommend any business owner that is looking to sell their business to call Scott at Paragon Ventures to listen to the knowledge that has been gained through many years of experience in selling businesses like mine.
Thank you Scott!
April Stone
