Every successful business owner has to deal with the subject of succession planning sooner or later. Who will take the reins when you leave? In business succession planning, time is either your ally or your enemy. You can spend time planning for succession during your active business lifetime, or postpone planning and wait until the more chaotic, uncertain and expensive succession planning occurs after a life-changing event or post-mortem, when the choice is no longer yours. Think that succession planning is just a matter of selling your business? Think again. Finding a willing and able buyer for any business is rarely just a matter of hanging up a “for sale” sign.
Our business attorneys have consulted with many businesses, family-owned and otherwise, about planning for succession or sale. We can help you position your business for succession or sale in order to maximize what you receive from the change in ownership and ease the transition.
Business Sales and Acquisitions
• Represented Johnstown-area pharmacy owner in a sale to a major national pharmacy retailer.
Negotiated the formation of a joint venture and represented the group in the acquisition of a historic downtown Pittsburgh office building.
• Completed the sale of a longtime Pittsburgh restaurant which included a co-branding arrangement between parties that will continue to operate under same the valuable brand.
• Counseled clients through the sale of a crane business and associated real estate that included various post-closing executory contracts.
• Assisted several clients with purchases of bar/restaurants;
• Advised clients in several transactions involving the purchase or sale of national franchises including but not limited to Subway, SportsClips, Snap-On, Quaker Steak & Lube, Snap Fitness, 9Round, Contours Express, Curves, Pizza Outlet and UPS Stores.
• Negotiated buy-out of partners in a commercial trucking and warehouse business; assisted same client with subsequent sale of the business.
• Facilitated the sale of three funeral homes following a litigation settlement; transaction included assets and associated real estate.