Joining Forces: Step 5: The Close – Or As We Say, A New Beginning
May 14, 2020
It might sound fitting to say that we are almost to the end of an acquisition journey. But in reality, this is just the beginning.
We’ve become acquainted and found that a partnership or acquisition is in both of our best interests. We’ve drilled down in the financials to see the health and opportunities available. We’ve offered a fair value to you in a carefully prepared and presented Letter of Intent. This letter spelled out roles and expectations designed to meet mutually discussed goals. And finally, we’ve produced a game plan for the future through our Diligence process.
Now, the process continues just as it began—with care and a “do no harm” approach.
And Now for the Fun Part – The Close
The close of an acquisition or partnership will probably leave you feeling all kinds of emotions. Elated. Unsure. Nostalgic. You’ve worked hard. There’s a saying that entrepreneurs are the only people who work 80 hours a week to avoid a 40 hour a week job. And, the help, resources and benefits of capturing back some or all of your time may feel overwhelming. You may be exiting the business in a short amount of time or carrying on in a role you’ve defined moving forward. Whatever the circumstances, we believe that change brings greater opportunities.
Don’t take our word for the fact that you’ll be delighted with this part of the transition. Instead, let our operators tell you in their own words:
“The reason (acquisition) works is because of a culture of “do no harm” to my business. Meaning I run the business as I normally would – only now I have access to greater support in many areas of the business.”
– Gary Shmerler, former owner, Certified Refrigeration & Mechanical
“CoolSys has been true to every single word they told us. In terms of negotiation, they were very fair. It was wonderful dealing with them. CoolSys allowed us to stay fiercely independent.”
-Allan Samuels, President, CoolSys Energy Design (formerly Energy Squared)
“It’s a family. It’s nice to talk to different people around the country who do the same thing that we do. We can bounce ideas off each other.”
– Joseph Ligoci, former owner, ABC Refrigeration
Many other benefits are yours when you become part of the CoolSys family. New partners find that CoolSys offers an a la carte approach to benefits management. They can offer greater resources and reach when hiring or training. As the former owner of ABC Refrigeration said, “Working with CoolSys takes some things off our plate…so I was able to focus on running the business.”
You’ve made the right decision and you’re beginning to see how joining forces makes us all stronger. And now, for the final step – The Post-Close Transition.