Preparing For The Sale of Your Business - Don't Go It Alone

Bill Neubauer, the CEO of The Nudyne Group, shares that his third generation company specializing in water heating, hot water storage tanks, and process heating markets. Despite the perceived challenges, Bill considers their family business mindset a core strength. With around 200 employees, the company’s uniqueness lies in the decentralized nature of their operations of five independently operated manufacturing businesses across five different states.

Bill's initial decision to explore selling the company was sparked by an attractive unsolicited offer from a large strategic buyer. Beyond the potential financial gains, he saw it as an opportunity for personal growth and a valuable learning experience, having never been on the sell-side before. Although he negotiated the preliminary offer on his own, he reflects that involving a professional advisor earlier in the process would have been beneficial in navigating the complexities and unwinding commitments made during that stage.

Recognizing the value of professional advisors, Bill and his team decided to engage an investment banker. Initially, the bankers’ focus was narrowly centered on value maximization. However, management soon realized that the role of an investment banker extended well beyond their initial expectations. When selecting an investment banker, the primary consideration was finding someone they could trust and have a good rapport with. They chose CMG based on their comfort level, appreciation for the firm's family-focused approach, and the high recommendation they received from another trusted source.

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About Carter Morse & Goodrich

Located in Southport, Connecticut, Carter Morse & Goodrich is a boutique M&A advisory firm that specializes in representing founder-led and family-held businesses valued between $25 million and $250 million. While CMG provides a full range of investment banking services, our primary focus is representing owners who are pursuing their once-in-a-lifetime M&A transactions. CMG specializes in advising leading companies in niche markets to plan, prepare, execute, and close successful transactions that maximize shareholder value. CMG fully understands and appreciates the unique dynamics of closely-held businesses and the importance of owner legacies. For 35 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners.

CMG's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC.