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Orange, Calif. –The M & A Source, one of the largest mergers and acquisitions organizations in the world appointed George Lanza, president of the Orange County business intermediary firm, Plethora Businesses, its Chairman for 2010 in Reno, NV.
Lanza participated in a tumultuous three year policy battle to grant autonomy to the M & A Source, focused on the lower middle market of mergers from The International Business Broker’s Association (IBBA), the world’s largest organization of business brokers.
Businesses with revenues between $1 million and $10 million are too large for small business brokers who typically manage the sale of small businesses with revenues under $1 million, but not large enough for the investment bankers. Because of this, business owners of mid-sized companies brave the process of selling their businesses with few advisors who possess the transaction experience to navigate the complexities involved in selling, transferring or merging their businesses.
Planning and developing an exit strategy is a complex process requiring accurate financial documentation, analysis, and a precise road map in order to maximize company value. Once a likely buyer is identified, most due diligence processes take ninety plus days, and negotiations and successful closing can take six months to a year to complete. Without the expertise of an intermediary, business owners experience thousands to millions in book value losses, as well as revenue.
“The process becomes so stressful that owners become preoccupied with selling the business instead of running the business.” says Lanza. “Not to mention the lack of bargaining power a retiring business owner has over buyers who are interested in getting the best deal.”
The autonomy of the M&A Source brings the intermediary professional the educational, networking, opportunities and access to private equity to better serve the small to medium sized business owners, bridging the gap between the investment banker and the main street broker, ultimately helping business owners to save hundreds of thousands of dollars.
Previously on the Board of Directors of IBBA, Lanza is accepting his position as Chairman on November 18 in Reno, Nevada. His business, Plethora Businesses, is a boutique middle market intermediary firm offering sell side advisory, mergers and acquisition, business transition, business valuation, and financial advisory services for small to medium sized companies.
For more information regarding mergers and acquisitions for the middle market, M & A Source or Plethora Businesses, please contact Michelle Chittenden at (714)255-8862.
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