Registration Pricing $39
Why Business Owners Are Reluctant to Exit
There are many factors that affect the Business Owners reluctance to Exit the Business. We explore what the top five reasons are and provide solutions to help them.
- No written Business transition or personal plan
- Not aware of Exit options
- No formal transition team
- Who is the best purchaser of the Business
This event will be moderated by Chris Jones who will lead a discussion with Business Owners about the challenges of selling a Business
Prior to joining Sunbelt Chris worked in strategic acquisitions for a $400 million subsidiary of a “Fortune 200 Private Company”. He has assisted clients in many industries including: distribution, business services, light manufacturing, outdoor products, consumer services, retail, hospitality and information technology. Mr. Jones is licensed in Minnesota and Wisconsin and is a member of the International Business Broker Association (IBBA) and M&A Source. Chris lives in the Twin Cities with his wife and three children.
Chris Jones is a member of Sunbelt Midwest, with offices in the Twin Cities of Minneapolis/St. Paul helping people buy businesses and sell businesses in Minnesota and the greater Midwest area. Sunbelt Midwest agents are licensed Minnesota Business Brokers. Sunbelt Midwest also has business broker offices in Wisconsin and Illinois.
Chief Financial Officer, Interlaken Technology Company, LLC
Brian is currently the CFO for Interlaken Technology Company, LLC (ITC), a global leader in advanced metal forming technologies. He has been an equity partner in two buy side transactions and one sell side transaction with ITC. Brian was also an equity partner for the acquisition of Cambridge Metals & Plastics (CMP) by Water Works Manufacturing, LLC (WWM) in 2007 and the sale of the company to a private equity firm in 2013. From 2007 to 2013, he served as VP, Finance and Administration at WWM with financial oversight for the company during a period of significant growth – more than quadrupling its revenues.
Prior to joining WWM in 2007, Brian served in financial management roles for several small entrepreneurial businesses and was involved in several buy side transactions. He began his career with the accounting firm of Arthur Andersen & Co. in Minneapolis. He received a bachelor’s degree in accounting from the University of Northern Iowa.
Michael brings a valuable combination of entrepreneurship and corporate leadership skills to his role as an Investment Banker at CFA. In 2004 Michael founded an IT and Business Services Consultancy. Over the next 12 years, Michael grew that firm from startup to $33m in revenue and 200 employees. During his ownership, he developed a strong staff of senior leaders and management consultants across 3 offices in the US. His firm was continually recognized for fast growth and as a “best place to work”. In 2015 Michael sold his firm to an international publically traded strategic buyer. Since then he has been participating in professional services transactions with CFA Minneapolis. Michael began his career as an aerospace engineer at Hughes Aircraft, Space and Communications in El Segundo CA. designing and testing commercial satellites. He later moved on to Honeywell Avionics in MN. working with cockpit devices for commercial and military aircraft. From there he entered the IT space at a fortune 50 health insurer and a small fast growing privately held technology consulting company.
Michael leverages his years of large corporate experience along with his success in starting, building, and running his own business, for his role at CFA as an Investment Banker. He understands first-hand what company owners are thinking about as they contemplate what most likely is a once in a lifetime transaction. Michael is a proven visionary, leader, and project manager, focused on completing maximum value transactions for his clients. When he is not helping clients with a transaction he is advising business owners on how to prepare for a transaction through CEO leadership groups such as Vistage.
I started with a Finance background as a “Big 8 Accounting Consultant” after receiving a Finance degree from the University of Virginia, currently the #1 ranked basketball team in the nation. I moved on to the large corporate life, progressing to the Chief Information Officer (CIO) role for several companies (Higher Education Assistance Foundation (HEAF), Education Credit Management Corp (ECMC), and 3 Health Care companies owned by United HealthCare.
In 2001 I could not resist the Entrepreneurial call. I began creating, building and selling businesses. Since then I created my own software company (Quality Business Solutions – QBS), purchased the assets of a publicly traded company (symbol HOMI), and purchased a Franchise (Online Trading Academy – OTA). After generating and improving each of these businesses (OTA grew from $1.2 million to over $8 million in sales in 5 years for example) I sold them, the last sale in 2016, to pursue something else. Since then I have created a Real Estate Investment Company (Holystone Properties), purchased a lighting company (Red Nose Lites) in Nashville for my oldest son to run, and created a movie production company for my youngest son in L.A. As with everything else I have done, I do not intend to hold on to any of these business in the long term.
CEPAs receive 1 CE credit