An article in the Wall Street Journal (Needleman, Aug 2012: “The Economy Stole My Retirement”) highlighted a common challenge facing ‘baby boomer’ business owners as they ready to retire. Having spent decades building their companies, these entrepreneurs find themselves stuck in ‘business purgatory’ as they look to sell their company. The lousy economy has led to lackluster performance, and most banks are unwilling to lend as aggressively as before. The days of easy credit — and high earnings multiples — have slipped away, making it harder for sellers to obtain their desired price. On the bright side, such externalities don’t change the culture of a business nor the quality of its management team. And we appreciate that.
PCG exists to help solve these problems — consider us the “Unstickers”. We look to partner with owners and management teams to find solutions for these scenarios.
So perhaps you know of a business owner who is ready to retire or sell to management — but there’s a need for more capital or additional talent. Or maybe there’s a company starved for capital and in need of improved corporate governance. Whether you are the business owner or an advisor, an investor or a management team member looking to buy, we’d welcome the chance to get acquainted and better understand the challenges you face.
Creative minds can structure and close deals that are fair for all parties — enabling attention to return to what matters most: operating the business and growing it to the next level. That’s Progress.