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Strobl PLLC

Strobl PLLC

Business and Corporate Law Firm

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(248) 540-2300

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    • Henry J. Andries, Jr.

      Henry J. Andries, Jr.

      Member

      Phone: 248.205.2710

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Litigation, Real Estate, Tax

      Experience

      Since 1995, Henry J. Andries, Jr. has engaged in private practice with a concentration in employment law, complex civil litigation...

    • Lynn M. Brimer

      Lynn M. Brimer

      Member

      Phone: 248.205.2772

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Litigation, Mergers & Acquisitions, Non-Profit Law, Real Estate, Tax

      Experience
      • Assist taxpayers with representation before the internal Revenue Service, the State of Michigan Department of Treasury and other taxing authorities...
    • Jon P. Everly

      Jon P. Everly

      Managing Member

      Phone: 248.205.2759

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Non-Profit Law, Real Estate, Tax

      Experience
      • Advises closely held businesses and their owners in a broad range of legal matters, including formation, taxation, succession planning, and...
    • Michael L. Geller

      Michael L. Geller

      Member

      Phone: 248.205.2770

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Litigation, Real Estate

      Experience
      • Advises and assists clients in the creation and structuring of their business entities.
      • Regularly counsels clients relative to employment issues that...
    • Jeffrey T. Goudie

      Jeffrey T. Goudie

      Member

      Phone: 248-205-2767

      Connect:

      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Real Estate

      Experience
      • Represents financial institutions in licensing matters, regulatory matters, and transactional matters
      • Provides vendor contract review for financial institutions
      • Litigates title issues and...
    • Paul M. Kavanaugh

      Paul M. Kavanaugh

      Member

      Phone: 248.205.2711

      Office: Bloomfield Hills, Michigan

      Connect:

      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Mergers & Acquisitions, Real Estate

      Experience

      In his more than 30 years of practicing law, he has helped businesses protect their financial and intellectual property, minimize...

    • Michael A. Kus

      Michael A. Kus

      Member

      Phone: 248-205-3090

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Real Estate

      Experience
      • Advises financial institutions on compliance and regulatory laws and policies and procedures
      • Provides guidance and assistance to banks and thereby reducing...
    • Jay R. LaBarge

      Jay R. LaBarge

      Member

      Phone: 248.205.2778

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Healthcare Law, Mergers & Acquisitions, Non-Profit Law, Real Estate, Tax

      Experience
      • Advises clients on a full range of real estate matters, including drafting and negotiating purchase agreements and residential, commercial and...
    • Brian J. McCullough

      Brian J. McCullough

      Member

      Phone: 248.205.2715

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Healthcare Law, Real Estate

      Experience
      • All legal aspects pertaining to healthcare providers, including licensing, certification issues, survey and compliance issues, Medicare, Medicaid and other insurance-related...
    • Pamela S. Ritter

      Pamela S. Ritter

      Member

      Phone: 248.205.2765

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Litigation, Real Estate

      Experience
      • Counsel to lenders in a range of loan origination transactions, including commercial and industrial loan facilities, real estate and construction...
    • James A. Rocchio

      James A. Rocchio

      Of Counsel

      Phone: 248.205.2748

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Mergers & Acquisitions, Tax

      Experience

      Mr. Rocchio has deep expertise in the area of taxation. Over the course of his legal career, he has counseled...

    • Nelson B. Stieper

      Nelson B. Stieper

      Of Counsel

      Phone: 248.205.2742

      Office: Bloomfield Hills, Michigan

      Connect:

      Practice Areas

      Estate & Succession Planning

      Experience
      • Performs probate and trust administration, revocable and irrevocable trusts, wills, special needs planning, gift planning, and asset protection
      • Advises on divorce,...
    • Thomas J. Strobl

      Thomas J. Strobl

      1942 – 2023

      Phone: 248.205.2713

      Office: Bloomfield Hills, Michigan

      Connect:

      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Labor & Employment, Mergers & Acquisitions, Real Estate, Tax

      Experience
      • Advises a broad spectrum of purchasers and sellers in merger and acquisition transactions involving primarily private companies.
      • Represents financial institutions and...
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Checklist for Selling Your Business to Private Equity

September 14, 2020

Private equity groups have specific goals they are seeking to meet, and these goals should be taken into account by sellers when considering whether or not to proceed with a sale. Checklists are helpful in ensuring all relevant issues in a deal have been identified. Before signing any agreement with a private equity group, make sure you first have answers to the following basic deal principles.

1.            Exit strategy of private equity group.

Starting with the end in mind, private equity groups typically look to purchase businesses with the goal of growing and selling the business in 5-7 years at a higher price. Rather than assume this to be the case, it would be prudent to confirm the strategy involved.

2.            Growth measures to be undertaken.

A good private equity group will already have identified how it intends to grow the business. This could be done in a number of different ways like fund injections for new opportunities or internal improvements to boost operations. The operative word here is growth, and any potential buyer should be able to articulate their vision. The plan for growth should inform how performance targets and other deal-related measures are set.

3.            Owner’s role after sale.

Some private equity groups will want the owner to run the business after the sale or even maintain a minority equity interest in the business. Other groups may not want the owner or existing management team to remain tied to the business. It is important to verify exactly what rights and responsibilities the soon-to-be former owner will have in operating the business and how any phase out of management is to happen. It should be reasonable for a potential buyer to be able to share these details because they are central to the exit strategy and plan for growth.

4.            Incentives to support growth.

The idea of keeping the owner on after the sale is to have that person lead the effort in growing the business. It is important then to make sure the financial incentives provided to the owner match the goals being set for growth. The more specific these goals can be, the better they can help maintain the partnership relationship between the owner and private equity group.

Selling your business to private equity has a better chance of succeeding if the expectations on both sides of the deal are aligned. Using this checklist will help you with this process.  Strobl is a team of experienced and trusted lawyers that can advise on all matters relating to the sale of a company and mergers and acquisitions.  For more information, visit Strobl online at www.stroblandsharp.com or on LinkedIn.

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At Strobl PLLC, our attorneys are committed to your team. We collaborate with clients to share our expertise and guide them to success.

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Bloomfield Hills, MI 48304

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