Kevin Short is the author of Sell Your Business for an Outrageous Price: An Insider’s Guide to Getting More Than You Ever Thought Possible. A must-read for business owners who need to do some real homework on the sale process. During today’s episode, Kevin tells me why he wrote the book and why companies are willing to pay outrageous prices for an acquisition.
He walks me through Clayton Capital’s process and has some deal breakers and keys to performing good due diligence. He also has insight into the current market and why the climate is changing and should be taken advantage of now.
What you will learn:
- Why Kevin wrote his book.
- The difference between financial and strategic buyers.
- Why a seller should avoid financial buyers.
- How the Clayton Capital team finds the right buyer.
- How a client’s inside market knowledge is beneficial to Kevin and his team.
- How Kevin aligns client wants with the right buyer.
- The difference between business brokers and investment bankers.
- Things that are deal breakers for a buyer.
- Why due diligence is so important to a buyer.
- The role of a good experienced financial team.
- What is a 330 H-10 Election?
- Advice for telling employees about a sale.
- How to cope with deal fatigue.
Hearing these stories will build your knowledge and prepare you for your business sale.
Links and Resources:
Kevin Short is the Managing Partner and CEO of Clayton Capital Partners, a St. Louis-based investment banking firm specializing in merger and acquisition advisement. Beginning in 2007, Thomson Reuters, FactSet Mergerstat and Investment Dealers’ Digest all ranked Clayton Capital Partners as a top U.S. M&A firm. In 2017, Acquisition International M&A Awards awarded the firm the distinction of being the Best M&A Investment Banking Firm. It was also named a 2017 finalist for U.S.A. Boutique Investment Bank of the Year by the M&A Atlas awards. Clayton Capital Partners is also the winner of the Wealth & Finance Investment Bank of the Year.
Kevin is also the author of Sell Your Business For An Outrageous Price published by AMACOM. The book has received 11 awards, including the Axiom Book Award Bronze Medal for Entrepreneurship, Indie Book Award, USA Best Book Award, The Great Midwest Book Festival Award, San Francisco Book Award, National Indie Excellence Award, New England Book Festival, International Book Award, The London Book Festival Award, Book Excellence Award and was a New York Book Festival Finalist. Many of the awards are from international competitions! The book synthesizes Kevin’s experience in selling mid-size companies ($10MM – $250MM in value) for twice the industry average EBITDA multiple.
Recognized as a leader in purchase and sale transactions of mid-size businesses spanning a wide range of industries, Short has orchestrated more than 150 purchase/sale transactions with an aggregate value of more than $1 billion. Years of experience (both as a business owner and as an adviser in this marketplace) enable Short to aggressively pursue his clients’ objectives during the turbulence that characterizes every transaction.
As an expert in mergers and acquisitions, Short has been named a judge for the M&A Advisor Award, an annual national award that recognizes excellence in dealmaking, restructuring, and finance. He writes and speaks frequently on these topics to groups of business owners, advisers to business owners and academics. Groups include Business Enterprise Institute, Inc., the St. Louis Association of Evaluation Professionals, Edward D. Jones, St. Louis University Entrepreneurship Program, Enterprise University, Business Intelligence Institute and Washington University in St. Louis. In addition to contributing to various national trade and business publications, Short is also the co-author of Cash Out Move On: Get Top Dollar–And More–Selling Your Business (Business Enterprise Institute, Inc. 2008).
Mr. Short devotes his free time first to his family, and second, to the education of children from low-income families. He serves as the Chairman of the Board for the Today and Tomorrow Educational Foundation, the Chairman of the Finance Council of the Archdiocese of St. Louis, the Vice-Chairman of the Show-Me Institute, a board member of the Mercy Hospital System and The Children’s Scholarship Fund.
In 2018, Mr. Short was a recipient of the Elizabeth Ann Seton Award from the National Catholic Education Association, honoring his lifetime commitment to the education of children in poverty. He is also a recipient of the FOCUS St. Louis “What’s Right With The Region” Award.