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To Hire or Not Hire an M&A Attorney

M&A Attorney
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When to Hire an M&A Attorney

When you are selling a business, there is always a lot of debate about whether or not to hire an M&A attorney.  Business brokers are not attorneys (or accountants), so it’s always in our and your best interest to make sure you receive proper guidance and advice.

Some people will tell you hiring an attorney is a sure-fire way to kill a deal. The process can become protracted and we all know time kills deals. Others will tell you they enlisted the help of their long-time attorney who’s been advising them about their business for years, only to have the process stalled and stress levels elevated.

Both of these situations can be avoided if you hire the RIGHT type of attorney an M&A attorney.  We, at Accelerated Manufacturing Brokers, recommend to our clients that they enlist the support of a Mergers & Acquisitions attorney as part of your team. These men and women know the process, the law and can be a huge asset in helping you navigate these unfamiliar waters.

M&A Attorney

You wouldn’t go to your dentist for a heart operation, would you?

Our Recent Experience with a Seller’s Non-M&A Attorney

We recently closed a deal in which the seller chose to, contrary to our advice, engage their long-time business attorney a few weeks before the closing.  From that moment forward, at every step of the way, there were new, and often unnecessary, hurdles to leap over.  The purchase and sale agreement was signed, then changes were requested.   Documents were requested that had already been provided.  Documents were not provided that had been requested.  The buyer received a document requesting his signature that never should have happened.  To say that the stress levels for the seller, the buyer and the broker went through the roof is an understatement.

The story ends happily for all, as we closed the transaction on the scheduled date.  Yet, at the end of the day, everyone should be spared the extra dose of anxiety.  And enlisting the support of a professional who specializes in this area is a wise decision and worth the spend.

Contact us with any questions.

About Frances Brunelle

Frances Brunelle is the founder of Accelerated Manufacturing Brokers, Inc., which specializes in the sale of lower middle-market manufacturing companies nationally. Fran and her team help to ensure the continuity of U.S. Manufacturing by transitioning ownership to the next generation of entrepreneurs. Recently Fran was named to 2020 Most Influential Women in Mid-Market M&A (Mergers & Acquisitions). Fran is also the host of the WAM (Women and Manufacturing) podcast, a Jacket Media production. Fran writes on topics that help manufacturing business owners prepare their companies for sale and navigate the sale process to ensure a positive financial result in support of their retirement.

1 Comment

  1. […] Seller and his advisors were trying to hustle. Hire someone who knows how to navigate these issues. M&A Attorneys save deals and are a smart […]

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