Probably, the biggest mistake that most business owners make is failing to plan for the sale or transition of their businesses. In the wake of the financial crisis, the need for business owners (their families and advisors) to plan for their exit has never been greater – even if your expected transition is years in the future.
Join us as leading experts in various aspects of exit planning discuss the challenges that today’s business owners will face in the years ahead as they look to sell or pass on their firms and transfer wealth. In the next 5 to 10 years, more than half of all established privately-held businesses are expected to change ownership and control. In the process, an estimated ten trillion dollars in wealth will be transferred, as the baby boomers reach retirement age. Some have called it the “Ten Trillion Dollar Opportunity.”
However, the Ten Trillion Dollar Opportunity is being greatly complicated by the financial crisis and the recession. Due to the economic downturn and the difficulty of getting bank financing, the market for buying and selling businesses today is very weak. When the economy and bank financing return to pre-recession levels, it is certain that the market will be flooded with businesses for sale. How do business owners realize the full value of their businesses under such conditions – especially in light of the prospect of higher taxes, more government regulation and increased competition from abroad?
In this six-hour seminar, you will learn:
- The reasons you need to start planning the transfer of your business and wealth
- The actions and timing steps to optimize your experience and wealth transfer
- Ways of increasing the value of your business today and when you sell
- How to preserve your legacy and the legacy of your family and business
- Tax and estate planning strategies to be implemented now for the future
- How private equity groups and other potential buyers analyze value
You will hear from experts in selling businesses, valuing companies, and tax and estate planning. You will also learn from former business owners about their experience in handling the sale and transition of their businesses, including why planning is so important. The principals of three of the leading private equity groups, including Tom Bagley, the dean of private equity in the Midwest, will discuss what they look for in their acquisitions. And, WGN news anchor Robert Jordan will talk about how to preserve the legacy of your business and your family.
Agenda
8:15-9:00 Registration
9:00-9:45 The Challenges of Selling – or Passing On – Your Business Today
Peter G. Christman, expert in business transitions and
co-author of “The Ten Trillion Dollar Opportunity”
9:45-10:30 How Potential Buyers Will Value Your Business
James Bates,valuation expert and co-author of
“Business Valuation for Dummies”
10:30-10:45 Break
10:45-11:15 Preserving the Legacy of Your Business and Family
Robert Jordan, WGN-TV news anchor and
Founder of Family Legacy Videos
11:15-12:00 Tax and Estate Planning Issues in Business Sales or Transitions
William Strons,attorney with expertise in business transactions,
tax and estate planning
12:00-12:45 Lunch and Networking
12:45-2:00 How Private Equity Firms Buy Private Companies
Thomas Bagley, Managing Partner, Pfingsten Partners
Frank Galioto, McNally Capital's Buyout Fund
James Hoffman, Partner, Pritzer Group
2:00-2:10 Break
2:10-2:45 Mistakes and Wisdom from Former Sellers
Bruce Leech, evolve, founder & CEO of CrossCom National, Inc.
2:45-3:00 WrapUp
Speaker Biographies
Tom Bagley is Founder and Senior Managing Director of Pfingsten Partners, an operationally-focused private equity firm with over $1.2 billion of capital under management and offices in Chicago, IL; Hong Kong, China; and Shenzhen, China. The firm invests in middle market manufacturing, distribution and business service companies.
Jim Bates is the co-author of "Business Valuation for Dummies." He is a Managing Director of the Christman Group, in charge of its business valuation operations. Prior to joining Christman, Jim ran his own business valuation practice after managing the business valuation division of a national consulting firm. He has an MBA from Western Illinois University.
Peter Christman is founder and CEO of the Christman Group, an investment banking and consulting firm. During his 30-year career Pete has successfully sold more than 200 companies in a wide variety of industries. Peter is also the co-founder of the Exit Planning Institute which educates business advisors on how to implement business owner “exit planning” into their practices. He is the co-author of the book on exit planning “The Ten Trillion Dollar Opportunity”.
Frank Galioto leads sourcing, screening, and oversight for McNally Capital’s Buyout Fund and works closely with McNally Capital’s family office clients in supporting their private equity investment objectives. Prior to joining McNally Capital, Mr. Galioto was Partner with Booz Allen Hamilton. Mr. Galioto received a BS in Chemical Engineering from Lehigh University and an MBA from the Amos Tuck School of Business Administration at Dartmouth College, where he was elected an Edward Tuck Scholar.
James E. Hoffman is a Partner at the Pritzker Group and serves on the firm’s Investment Committee. Prior to joining Pritzker, Jim was a Managing Director and senior member of the Mergers & Acquisitions Group at Robert W. Baird & Co. advising on merger, acquisition, divesture, and corporate sale transaction in the industrial/manufacturing and consumer products sectors. Jim received his M.B.A., with distinction from Harvard Business School and his B.B.A., with high distinction from the University of Michigan.
Robert Jordan, Ph.D. is a news anchor and reporter with WGN Television. He is also President and CEO of Jordan & Jordan Communications, Inc. Jordan & Jordan has produced television programs for Tribune Broadcasting, National Geographic Television and The Hallmark Channel. A full service television production company, J & J has consistently sought to produce quality television programming that is socially significant in nature. In 2003, Jordan & Jordan began devoting its production expertise, full-time, to the creation of biographies for special families and family businesses.
Bruce Leech is the co-founder of Evolve, a membership organization for business owners that helps them with their transition. He founded CrossCom National, Inc. in 1981 to provide voice and data communications systems to major retailers such as WalMart, CVS, KMart, Walgreens and Kohls. In 2004, he sold a majority interest in the company to a private equity group. Bruce is a graduate of Michigan State, has an MBA from DePaul and completed the Executive Education Program at Harvard Business School.
William Strons is a shareholder with the law firm of Huck Bouma, where he heads the firm’s Corporate Transactions group. He represents closely held businesses in all types of corporate, tax planning and estate planning matters as well as in mergers, acquisitions and tax-free reorganizations. Bill has his JD degree and Masters in Taxation from DePaul and an undergraduate degree in Finance from the University of Illinois.