In this episode of Printing's Alive, Warren Werbitt and Kelvin Gage discuss their journeys in the printing industry, focusing on Kelvin's path from starting his business to selling it to Australia's largest print company. They delve into the complexities of deciding to sell, involving external help, and negotiating while maintaining leverage and secrecy. The conversation addresses emotional and family considerations, financial discipline, and business readiness. Kelvin shares insights on creating win-win acquisition deals, managing staff reactions, and the emotional aftermath of selling. They also explore challenges working for the acquiring company, offering advice for potential sellers, and balancing outsourcing with new equipment investments.
00:00 Welcome
00:50 Why Selling Matters
02:16 Print Love Language Story
04:33 Origins in Family Shop
09:15 Scaling to Full Service
13:39 First Thoughts of Selling
18:41 Deal Team and Structure
22:38 Negotiation and Secrecy
27:13 Always Be Ready to Sell
31:15 Clean Books Keep Leverage
32:21 Get House In Order
33:27 Valuation Deal Structures
34:02 Buying Asset Deals
35:35 Win Win Multipliers
37:25 Cherry Pick Assets
40:43 Selling Clean Entity
42:11 Telling Staff Goodbye
45:35 Machines Pulled Apart
47:56 Earnout Warning
52:35 Life After Sale
55:59 Sell Ready Discipline
57:50 Outsource Not Buy Gear
59:54 Wrap Up And Thanks
To listen to the audio version of this podcast, click here.
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