Who will run the business when the owner steps down? Will the company have what it needs to continue operating successfully? Will there be enough cash to cover company debt and taxes? These are some of the questions that make succession planning so important. Here are just a few of the many benefits of succession
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Summit Advisory Continues Sponsorship of The High Center for Family Business Summit Advisory is proud to partner with The High Center to serve and strengthen family businesses. In addition, Summit Advisory is a Silver Sponsor for the April 16, 2019 Family Business Forum. This forum will feature keynote speaker, Alan Mulally, former President and CEO
By Jen Vogelsong, Contributing Writer Many people have worked for a company that has been bought by or merged with another. The difficult process can cause worries about changes in corporate culture, job descriptions and employment security… Ronald Myer, President of Summit Advisory in Lancaster has been quarterbacking such deals for 14 years. He took
As I write this, our economy is doing really well and many companies are growing. However, those of us who have been around a while know that things will change. We will once again face the pressures of a down economy, and many businesses will struggle to achieve healthy growth. When faced with this pressure,
Selling a business is often a confusing and difficult process, and most business owners only do it once in a lifetime. Very few go through the process enough to really become comfortable with the ins and outs of selling a company successfully. Writing directly to business owners, here is my list of the top five major mistakes that you absolutely must avoid when it’s time to take an exit.
Frequently, when it’s time to take an exit, business owners will reach out to someone they know – a vendor, a customer, etc. and put together a deal to sell their business. That’s what business owners do, they put deals together. It makes sense on the surface, but the results are often disappointing. We recently
Headlines Summit Advisory Brokers Another Major Deal New Website Launched for Summit Advisory How Tax Reform Will Boost Middle Market M&A How Tax Reform Will Boost Middle Market M&A The reduction in corporate tax rate from 35 to 21 percent will give strategic buyers more cash to spend on acquisitions. This legislation contains several provisions
Record-breaking numbers of Mergers and Acquisitions were reported in 2017. In addition, last year marked the third straight year with over 50,000 M&A transactions announced worldwide. Over 500,000 M&A deals were recorded in the last eleven years, more than in any such period in recent history. This trend is expected to continue in 2018, with
Summit Advisory Inc, a Lancaster based M&A firm, was the exclusive representative for the seller in a large pet food transaction. The attached was released today from Simmons Feed Ingredients about their acquisition of Pet Poultry Products. Summit led the transaction after researching and reaching out to hundreds of targeted potential buyers. Summit received Non-Disclosure
By Jessica Aiello, Contributing Writer Retailers are closing hundreds of stores across the country — and in Central Pennsylvania — as more purchases are made online rather than in brick-and-mortar stores. But it is not just national retailers that may be hurting and needing to sell all or pieces of their business. “Buyers buy for the