September 2012 – Present (4 months) Greenwich CT
Powers Advisory LLC- consulting for privately owned middle market companies seeking strategic planning and implementation of eventual IPO or sale preparation and execution to a synergistic buyer.
Powers Investmenets LLC- investment in buidling material businesses.
Privately Held; 51-200 employees; Construction industry
1981 – 2012 (31 years) Brewster New York
Started as product manager in 1981, regional manager 1983, VP Sales 1985 and took the company into roofing fasteners, chemical anchors, carbide drills, powder actuated fastening and eventually into gas technology fastening. Changed the company name from Rawl to Powers in 1995 and took over as President. Expanded the business globally into Canada, Australia, New Zealand, China, Taiwan, Europe, Thailand and India. Worked with three brothers to grow a business from less than ten million in sales to over $150 million eventually selling it for 11.8x EBITDA and 1.5x Revenue. Worked as sellers agent to execute the sale while managing the global business.
June 1980 – August 1980 (3 months) Greater New York City Area
Assistant to the NY Branch Manager- cold calls, lead follow-up, running the Manhattan branch warehouse.
Powers Advisory provides exclusive and confidential consulting services for the private business owner. We provide “business owner to business owner” direct service consulting at a fraction of the cost of engaging a large consulting firm or an investment banker. Powers Advisory only takes on “one to two clients” at a time so that extreme focus can be provided with the intention of delivering qualified results. Areas of consulting include the following:
Banking- negotiations of bank lines to reduce cost, limit over-reaching covenants, and in some cases eliminate the asset based line in favor of a flat available line tied to a multiple of EBIDTA which is easier to manage.
Estate planning- vet corporate formation to reduce risk, minimize tax and plan for the future based on an individual or multiple owners’ needs. Plan for the future with a level of control and “succession planning” custom tailored to the owner’s needs.
Managing the family global enterprise- for domestic or global businesses there are multiple options for best practices particular to family owned companies which the founder or leading principals can use. The tactics are not found in books or from consultants but from Powers Advisory who has the “know-how” to learn, analyze and recommend solutions for the private business owner.
Raising capital without succeeding control to others- business owners often seek to sell a stake in their business but are not aware of options that minimize the risk that comes with minority equity stakeholders. Based on your current capital structure there is probably one or two ways one should proceed.
Valuing a privately owned business- understanding the industry you’re in and the value proposition that you can offer presented properly can be the difference between taking action on selling a business that can produce a sustainable income from one’s life work.
Preparing a business for sale-the checklist is large but not daunting provided the business has a structured plan and a capable CFO. The appropriate preparation should lead to a higher multiple paid for credible information- without leveraged disengagement from the buyer which can take the form of a reduction in purchase price, higher holdbacks and indemnities that could outweigh completing a transaction.
Finding a synergistic buyer- the difference can be as high as 50-100% premium if sold to a strategic buyer. Do you know the three types and the good and bad of each?
Vetting the sale of a business without the cost of an investment banker- some businesses which are well managed and well prepared are prime candidates for the private sale method that can help protect a business from the publicity and cost associated with the typical black book auction process used by investment bankers.
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