Business Buying Academy
Lessons from Closing $950m in SMB Acquisitions - SMB Lawyer Eric Pacifici
Sep 11, 2024
Eric Pacifici, founder of SMB Law Group LLP, has closed $950 million in SMB acquisitions in just a couple of years. He shares insights on leveraging social media, particularly Twitter, to grow his legal practice. The discussion delves into the nuances of pricing legal services and negotiating deal terms. Eric emphasizes the importance of thorough due diligence to avoid post-acquisition disputes and compares asset vs. stock sales, explaining their implications for buyers. He also highlights the crucial role of SBA loans in facilitating successful business transactions.
50:01
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Quick takeaways
- Effective use of social media, such as Twitter, can significantly enhance networking opportunities and client engagement in the M&A space.
- Understanding the complexities and legal fees associated with M&A transactions is critical to prevent costly mistakes for both buyers and sellers.
Deep dives
The Risks of Seller Competition
Sellers may engage in competitive practices that undermine the buyer's position post-sale. This includes instances where sellers request lengthy non-compete clauses while planning to re-enter the market shortly after a sale. The problem is compounded when sellers engage in deceptive practices that directly harm the buyer's business relationships or integrity. Such behaviors can severely affect the future success of the acquired business, making due diligence and awareness of seller motivations crucial.
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