Service Providers: the 1719 Partners Approach
Service providers are an important part of small company mergers and acquisitions (M&A). 1719 Partners relies on various attorneys, accountants, environmental consultants, etc. 1719 Partners has long-standing relationships with a number of fine firms. These service providers are experts in their fields and we value their input.
We have seen instances where sellers let their advisors take over the sale process. 1719 Partners makes sure to remain the decision maker on key issues.
Setting Boundaries
There is a balance between receiving advice from service providers and relying exclusively on their opinion. We really appreciate our advisors’ advice and will ask them for their thoughts or recommendations. However, at the end of the day 1719 Partners is the final decision maker.
Why do we make sure to make the final decision, and why do we advocate for sellers to do the same? Unfortunately, advisors can have different motivations than the sellers. For example, service providers could stand to gain increased billing from a deal going through. This is not unlike a real estate agent profiting from making a sale.
It is important to remember that the seller is the one selling his or her business. Because of that, they should be the ones to make the final decisions. But, like we mentioned before, this does not mean ignoring the advice of experienced professionals. It all comes down to a balancing act.
