Think Like an Owner Selling your Business with Brandon Kuchta - Ep. 143
My guest on this episode is Brandon Kuchta, the former CEO of Analytical Technologies Group, which provides repair, maintenance, and contract services for lab instruments. I say former because he sold ATG last October, and today's episode is going to cover all things selling a company from determining the right timing, what is typical in a process, and communication across stakeholders. We also talk about life after the sale, including Brandon's consulting period with the new owners and how operators can relax and give themselves a well-deserved and often much-needed break. Enjoy.
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Topics:
(2:31) - What was the business you ran and what was the process for selling it?
(4:09) - How did you know it was the right time to sell the business?
(7:03) - What advice did you get from other folks about selling a business and planning for life after the sale?
(8:27) - How long was it between deciding to sell and selling the business?
(9:25) - What sorts of things would you do to prepare to sell a business if you had a 2-3 year runway?
(13:12) - Would you run a business differently if you knew you would be selling it?
(14:39) - What made you decide to hire a bank to represent the company instead of going directly to buyers?
(16:18) - How did you filter which bank you would partner with?
(19:41) - What types of offers were you fielding?
(22:11) - What were the typical terms you saw for seller financing?
(23:38) - How did you think through rollover structures within offers?
(26:04) - What were some expectations buyers had if they wanted you to roll over some equity?
(27:48) - What was your thinking on a strategic sale vs. a PE sale?
(29:33) - How do you think about communicating the process of selling with different stakeholders?
(34:28) - What was the reaction from your team when you announced the sale?
(36:32) - What did the consulting agreement look like?
(38:41) - What is your role today?
(39:16) - How have you relaxed and decompressed as the former CEO?
(43:31) - What are your health and fitness plans?
(49:10) - What’s a strongly held belief you’ve changed your mind on?
(50:59) - What’s the best business you’ve ever seen?