Start Now to Sell or Recapitalize in 2011
By Bill Quish, CEPA
Senior Managing Director, Lyons Solutions LLC
Business owners who need or want to complete the sale or recapitalization of their business in 2011 should immediately start the process. The sale or recapitalization of a business generally takes six to nine months. Hiring an experienced merger and acquisition intermediary to facilitate this complex process will improve the chances of meeting your goal.
Factor In Your Post Sale Commitment
Don’t forget that after the sale, most privately held business owners will be required to assist the buyer for a period of one to two years. If your goal is to be free and clear of all responsibilities associated with your business within two to three years, you should begin the business sale process now.
Are You Positioned To Sell Quickly?
For a thorough understanding of the business sale process and a confidential assessment as to whether your company is positioned to sell quickly, please contact a Lyons Solutions professional.
If you're getting ready to sell your company, call Bill Quish at (860) 391-8672.
Building a Better Company
with DataKey Consulting
When hands-on business management consulting is needed, Lyons Solutions collaborates with DataKey Consulting, one of the partners within our expanding network of accomplished advisors. DataKey helps build better companies by creating a winning strategy and blending it directly into the work-fabric of midmarket companies. It offers its client expansive thinking, innovation, best practice, and urgency for development and growth. The DataKey method for tightly linking strategy to tactical plans throughout an organization is unique. We hope you enjoy the article Keys to Serious Strategy and Planning by Ted Miller and Amie Gray, partners at DataKey Consulting, LLC. Both have more than 20 years of experience in managing large organizations for Fortune 500 companies. Their expertise is turning big-company practices into applied solutions that are practical and realistic for midmarket companies.
AMN Healthcare to Acquire Medfinders
Expands Nation's Largest Healthcare Staffing and Workforce Solutions Company, Increases Growing Clinical Workforce Managed Services Capability
SAN DIEGO, July 28 /PRNewswire-FirstCall/ -- AMN Healthcare Services, Inc. (NYSE:AHS - News), the nation's largest healthcare staffing and workforce solutions company, entered into a definitive agreement to acquire the parent company of Arlington, Texas-based Nursefinders, Inc. (dba Medfinders), one of the nation's leading providers of clinical workforce managed services programs. Through its multi-brand strategy, Medfinders also provides travel nurse and allied staffing, locum tenens, physician search services, and home healthcare services, as well as local nurse and allied staffing in support of its managed services programs.
"Bringing together the experience and diverse capabilities of both companies in healthcare staffing and managed services will create significant short and long-term benefits for our clients," said Susan Nowakowski, President and CEO of AMN Healthcare. "The expansion of our service lines resulting from this combination will substantially improve our ability to deliver an innovative, total workforce management and staffing solution to our broad and growing client base. This is a strategic opportunity for two leaders in healthcare staffing to come together to achieve additional sales and operating efficiencies while immediately enhancing and expanding our service offerings."
"This is an ideal combination for our clients, healthcare professionals, and team members," said Bob Livonius, CEO of Medfinders. "As an integrated and increasingly diverse company, we will be even more effective and efficient in delivering high quality and innovative workforce management solutions to our clients across the full spectrum of clinical specialties and services." Read More...
Fed Looks for Ways to Aid Small Business Lending
Bernanke: Bolstering small business lending crucial to economic recovery
WASHINGTON (AP) -- July 12, 2010 -- Federal Reserve Chairman Ben Bernanke stepped up pressure on Monday to get banks to boost lending to the nation's small businesses, a critical element to spurring the economic recovery and reducing unemployment.
Bernanke and other regulators have urged banks since February to increase their lending to smaller companies. Read More...
Nurses PRN, Inc. Acquires Med Source Professional Personnel
SAN DIEGO, California, May 3, 2010 – Nurses PRN, Inc. announced they have acquired Med Source., a major regional provider of Medical Personnel in the San Diego and Orange County areas. This announcement builds on the aligned agenda of bringing extraordinary skilled staff to facilities which in turn, improves patient outcomes. The combined efforts will create a premier healthcare staffing agency that reaches from the east to the west coast. The acquisition combines already paralleled reputations built on quality, reliability and integrity.
“We welcome the Med Source employees to the PRN family,” said Pete Hietpas, President of Nurses PRN, Inc., “We are confident that Med Source field staff and customers will be very pleased with the comprehensive functionality and advanced technology that they will benefit from as a result of this acquisition.”
A key area of focus will be on combining the resources Med Source has established in San Diego and Orange County with the national presence that Nurses PRN, Inc. brings to the table. The combined portfolio will give both healthcare professionals and facilities more opportunities to reach a vast new audience. In addition, the agreement brings a larger office staff that will result in greater efficiencies and more seamless workflows. With previous service areas throughout the country, the acquisition will bring more opportunity by expanding its service to additional areas and states for travel, per diem and local contracts.
Established in 1995, Nurses PRN, Inc. is a privately held company with 13 operational offices in 12 states and a national presence for travel nursing.
Lyons Solutions, LLC initiated the transaction on behalf of Med Souce Professional Personnel and acted as financial advisor.
On Assignment Expands within Core Segments with Acquisition of The Cambridge Group
CALABASAS, Calif., Apr 19, 2010 (BUSINESS WIRE) --On Assignment, Inc. (NASDAQ: ASGN) announced today the acquisition of The Cambridge Group Ltd., a privately owned, provider of specialized staffing in Physician, Clinical/Scientific, and Information Technology (IT).
The consideration for the transaction is $5.5 million in cash and a two year earn-out provision. The cash portion of the purchase price was funded from cash on hand at On Assignment. The Cambridge Group is headquartered in Connecticut with one branch office in Philadelphia, Pa. Mike Salvagno, founder of The Cambridge Group, will remain with On Assignment as Vice President, Clinical Research.
"This acquisition strengthens our presence in core segments of our business and is expansive to our gross margin," stated Peter Dameris, President and CEO of On Assignment.
Dameris continued, "Cambridge is a 35 year old firm that had approximately $11 million in revenues and 37% gross margins in fiscal year 2009. The IT division of Cambridge contributed approximately 24% of total 2009 revenues, with the Life Science and Physician divisions contributing approximately 73% and 3% respectively. The acquisition should be accretive to On Assignment's net income in 2010. Management will share more details regarding the acquisition during its quarterly earnings conference call scheduled for April 29, 2010."
Dameris concluded, "We view this acquisition as an opportunity to expand in some of our fastest growing end markets with very little execution risk. We welcome the entire team at The Cambridge Group to the On Assignment family and look forward to a successful future together."
Lyons Solutions, LLC initiated and structured this transaction, conducted the negotiations, and acted as exclusive financial advisor to The Cambridge Group, LTD