M & A Sale Announcement - Verilogic Sold to Private Investor

Playbook Advisory facilitates the sale of Chicago Consumer ID & Tracking Company

• SBA financing provided by Huntington Bank

• 70+ Buyer Inquires

• Strategic Acquisition | Private Equity Buyer

Playbook Advisory is pleased to announce the sale of a leading Technology Service Provider to Fortune 100 Companies.

"Our firm acted as the Sell-Side Adviser for the retiring business owner," stated Jim Peddle, President & Founder of Playbook Advisory.

"It's a great fit for the buyer, a local Chicago based private equity firm, the seller is excited to pass on their legacy to someone who will continue to grow the company with its existing staff."

Financing for this transaction was provided by Huntington Bank, which continues to expand their SBA financing programs for small businesses. The team at Huntington offered bank financing (Supported by a standby seller note) to go along with a line of credit to support the balance sheet and to provide growth capital.

Interested Sellers should contact Jim Peddle at 312-525-9622 to learn more about the process of selling a business. We have a proven model for listing, marketing, negotiating and closing Sell-Side engagements.

Please contact us directly to learn how our services can help your exit strategy.

Please let us know if you would like additional information on any listings currently for sale go to our website for up to date information on companies for sale.

To reach Jim by email: 

president@playbookadvisory.com

To reach Jim by phone:

312-525-9622

To reach our website:

Corporate Website

Jim Peddle Joins the International Business Brokers Association (IBBA.Org)

IBBA is the Largest Business Brokerage Association in the United States

Playbook Advisory announced today that Jim Peddle, President & Founder, has joined the largest business brokerage association in the United States. The IBBA is an association of professionals providing merger & acquisition services to business owners. Mr. Peddle is one of five business brokers affiliated with the IBBA from Chicago and one of 27 in Illinois.

"We have joined this organization due to its long-standing commitment to the industry, the quality of their educational programs and because of the number of quality business brokers that are current members. We believe business owners are well served by having an IBBA broker as their advisor."

Mr. Peddle founded Playbook Advisory in 2016 to offer merger & acquisition assistance to business owners operating companies up to $10,000,000. Playbook Advisory has been engaged to sell companies operating in a variety of industries including Staffing, Technology, Machining & Manufacturing & Retail distribution.

"Our firm is growing quickly and associating with the IBBA is something that we believe will add value for our Company. We are proud to be one of five brokers based in Chicago to be a member. In the whole state of IL. there are only 27 business brokers listed as IBBA members," added Mr. Peddle.

Business owners may go to www.ibba.org or to www.playbookadvisory.com to learn more about the services a business broker provides its clients. We strongly suggest owners interview a minimum of three firms & business brokers prior to signing and executing a listing agreement. Terms such as exclusivity, listing terms, commission rates and triggers on payment should be fully discussed with each firm.

About the IBBA:

The International Business Brokers Association (IBBA) is the largest international non-profit association operating exclusively for people and firms engaged in business brokerage and mergers and acquisitions. This association provides business brokers education, conferences, professional designations, and networking opportunities. Formed in 1983, the IBBA now has more than 1,000 business intermediaries across the world. The IBBA has been described as "the most complete package of membership benefits and services, best networking opportunities and most influential group of business brokers."

About Playbook Advisory & Jim Peddle:

Based in Chicago, IL., Playbook Advisory works with business owners seeking representation to assist with the valuation, listing, marketing, due diligence, and closing services. It's our process that has proven effective over many deals in a variety of industries. Contact us at 312-525-9622 or reach our website at www.playbookadvisory.com.

author: Jim Peddle, President

contact Playbook Advisory:
president@playbookadvisory.com

Other Reading:

What is Sellers Discretionary Earnings

Woodlawn Engineering Co. Sold to Strategic Buyer

Playbook Advisory acted as the exclusive agent for the Seller

New Buyer Engagement for Area Freight Broker

Playbook Advisory has been retained by a buy-side client to identify a freight broker in Chicago

Exclusive Engagement to source, negotiate and successfully close an acquisition target:

Our client is looking to continue its impressive growth and has engaged our firm to assist in sourcing potential acquisition candidates. The company is interested in meeting with freight brokers and business owners who see the value in teaming up with a leading-edge company offering customers the very best in customer service as well as a proprietary technology platform. 

We are interested in speaking with owners of competing Freight Broker who's companies fit the following criteria:

• Located anywhere in North America

• Freight Brokers with their own customers

• Pure Brokerage is preferred

• Handle Specialty Parcels for customers

• Ideally 4-25 pallets per delivery

• $1mm in annual revenues are the ideal target

• Customer Concentration is acceptable - 2 or 3 clients can generate 50% of business

• Sellers seeking a transition strategy with a leading Chicago based freight broker company

The Playbook Advisory sales team representing the seller is led by Jim Peddle, Founder & President.  Please contact Jim directly at 312-525-9622 or by email at president@playbookadvisory.com.

About Playbook Advisory:

Playbook Advisory is a leading U.S. business brokerage firm that is headquartered in Chicago, IL. Our firm works with business owners seeking to sell their successful lower middle-market companies utilizing our proven marketing and sales platform. Playbook Advisory also targets acquisition opportunities for growth-minded business owners. 

Facts About the Freight Brokerage Industry:

1.  Nearly all goods transported in the United States move by truck at some point in the journey.  Trucks carry over 60% of the annual gross tonnage moved in the US, making trucking the “backbone” of the intermodal (AIR, SEA, LAND) transportation network.    

2. Each day millions of big rig tractor-trailers (also known as semi-trucks,18-wheelers and motor carriers) move freight throughout the United States from one destination to another.  These rigs pull various types of cargo ranging from perishable foods, consumer goods to general cargo.  In fact, 70% of all manufactured and retail goods transported within the US on an annual basis are via truck. 

 3.  Transportation occurs daily, over $12,000,000,000,000 (trillion) dollars per year globally.  Transportation within the US exceeds $1 trillion annually, of which US trucking represents well over $600 billion.   Source:https://www.usfreightbrokers.com/content/industry
 

Tags: Playbook Advisory, Jim Peddle, Freight Broker, New Engagement

Other Reading:

How M&A deals get structured on typical acquisitions at our firm

Cleaning & Maid Service - South Suburbs & Naperville Opportunity

Exclusive New Listing from Playbook Advisory's Business Brokerage Group

PB#16120

312-525-9622

playbookadvisory.com

Contact Broker

Ready to Clean Up in a Growing Industry?

• Located in the South & West Suburbs of Chicago
• Experienced & Knowledgeable Staff
• Revenues over $200,000 in 2016 (Up 79%)
• Leased Office Space
• Opportunity to Grow the Company

Contact Jim Peddle at 312-525-9622 or email president@playbookadvisory.com

Tags: New Listing, Playbook Advisory, Jim Peddle, Cleaning & Maid Services, Naperville, IL.

Keeping the Sale of a Business Confidential

Why Confidentiality is Important to both Buyers & Sellers

Almost all businesses that come to the market are listed blind, without the name of the business on ads buyers see on 3rd party websites such as Bizbuysell.com or Bizquest.com.

While there may be instances where a business can go public with their interest in selling, it's very rare for smaller companies under $10mm to announce a business is for sale.

For business owners (Sellers) maintaining confidentiality can be extremely important in the business sale process. It’s important for reaching your exit goals and for the success of your business post-sale. If word gets out to your creditors, customers, competitors or employees, this could trigger a negative reaction, weakening your business momentum and therefore the value of the business. Moreover, prospective buyers may become hesitant about purchasing your business if they feel sensitive information has been shared with others.

Once you decide to sell your business, confidentiality can be tricky, but less so if you are working with a qualified and experienced business broker. At Playbook Advisory, we understand that keeping the sale of your business confidential is at the top of the list for our clients.

Owners should value what Business Brokers bring to the table, they're experienced at fielding inquiries from prospective buyers and reaching out to prospects without ever mentioning you or your company name. Yet, if you’re selling your business on your own, it's difficult to shield the business from buyers and it's very easy to Google your name to find out what company is on the market.

In this post, we share a few of the steps we can take to ensure the sale of your business doesn’t leak out prematurely and is kept confidential by all parties.

Here are 6 steps you can take to ensure "Confidentiality" when selling your business:

1. Execute a Non-Disclosure Agreement (NDA):  All buyers must sign an NDA prior to a discussion with our business brokers at Playbook Advisory. The agreement is broad and covers how information can be shared with the buyer’s advisers, accountants, attorneys, and partners. The NDA often will reference the name of the listing found online and/or the listing number from the Broker. It's non-negotiable and must be signed. The Buyer must work through the business broker and not go directly to the client or Seller during the entire process. There are many benefits for both parties to keep the business broker between the Seller & the Buyer.

2. We advertise with blind ads when advertising the listing via email blasts & online ads: Our Business Brokers do not identify the name of the business, the City or even sometimes the County where the business is located. The online ads are created to draw prospective buyers not to sell the business. It's a completely different process than selling a property through the multiple listing service.

3. Our Brokers will Pre-qualify buyers: Screening potential buyers protect your confidentiality as a Seller. Our firm has developed proprietary methods to vet Buyers, we take it seriously and Sellers should seek out a business broker that takes a hard line on weeding out the tire kickers. We like to say we don't like "ghosts", if a Buyer has no LINKEDIN or resume on hand then they're not in our opinion a serious candidate or even qualified to buy our client’s businesses.

4. What Buyers should expect from a Playbook Advisory Business Broker: Qualified buyers prefer information about your business to remain private because they will want to know that the business they are buying has taken steps to protect its trade secrets and financial information. We expect Buyers to be prepared to "peel back the onion" and go through a process that has proven to be successful time and time again. If a Buyer attempts to skip steps we will remove them from the buyer pool with the permission of our client. Multiple conversations are the norm early on and even more so later in the process and buyers should be prepared to work with the business broker.

5. Review the Clients Offering Memorandum: Now that a buyer is determined to be a qualified buyer they're provided the Offering Memorandum, a written summary of the company listed for sale, it is prepared with the assistance and at the direction of the Seller. The memorandum is not a thorough overview of the business, it's a marketing document used to generate further interest. Yes, key information is left out of the document because over 85-95% of buyers fall away after this document is sent out to prospective buyers.

6. Buyer-Seller Meetings: The final step in this initial part of the process of selling is for the business broker to schedule the face to face meeting between the Seller and Buyer. Ideally, the meeting is off-site at the office of the broker. Very rarely will this meeting be held or completed by a phone call instead of in person. In our experience, a phone call has much less value and less investment in time for the Buyer. Taking time to meet with the Seller in person is a much better indicator of interest. These meetings should only run 60-75 minutes and cover the operations of the business. Buyers should work to gain an understanding of the Sellers business and to find out how committed the Seller is to train and transition the business. Utilize the business brokers knowledge of the Sellers motivation and interests.

As you review these steps, remember to understand that most business owners have never gone through this process. They might be nervous, unsure of what's to be demanded by buyers who are all asking for different information at each step of the transaction. A good business broker will assist both parties so that confidentiality is kept during the whole process. At our firm, we have successfully closed numerous transactions over the past 6 years which gives us a considerable knowledge base of how to successfully list, market and sell businesses for sale. We leverage our knowledge of the sales process for the benefit of the Buyers and Sellers.

Please contact Jim Peddle at 312-525-9622 or email president@playbookadvisory.com for more information on this topic or any other merger and acquisition question.

Author: Jim Peddle, Business Broker

Other Reading:

Keeping the Sale of a Business Confidential

Letter of Intent Best Practices

Tags: Confidentiality, Playbook Advisory, Selling a Business

A Lucrative Auto Repair & Services- West Suburbs of Chicago

Exclusive New Listing from Playbook Advisory's Business Brokerage Group

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Contact:

312-525-9622

www.playbookadvisory.com

More Information

Own a Profitable & Established Auto Repair Co.

• SBA Pre-Qualified

• Located in the West Suburbs of Chicago

• Experienced & Knowledgeable Staff

• Revenues over $1.2mm in 2016 (Up 11%)

• Real Estate Available or Lease Property from Seller

Contact Jim Peddle at 312-525-9622 or email president@playbookadvisory.com

Tags: New Listing, Playbook Advisory, Jim Peddle, Auto Repair & Services

Q & A with Playbook Advisory Founder Jim Peddle

An Interview with Jim Peddle, Founder & President of Playbook Advisory

How did you begin your career in business brokerage

I started in the industry in 2011, right after the great recession, which was a challenging time to enter the field. The landscape was tough, with dwindling leads and an inexperienced team, but it taught me resilience. After five years at a national franchise, where I became the top-producing broker by 2015, I founded Playbook Advisory to leverage my expertise in sales and marketing.

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What services does playbook advisory offer?

We provide comprehensive business brokerage advisory services, assisting both buyers and sellers. Our offerings include:

• Sell Side Representation for Business Owners exiting their businesses

• Targeted M&A searches for Buyers and Strategic Buyers Nationwide and Chicagoland

• Business valuations for Estate, Divorce, Partner Disagreements and Selling

• Pre-sale business evaluations

• Strategic marketing and SEO for business oowners

How do you Promote your business?

Our approach combines modern "pull" marketing with traditional methods. We focus on delivering high-quality, relevant content that positions us as industry experts. This strategy includes engaging potential clients through various platforms like BizBuySell, BizQuest, and our blog, as well as hosting events and seminars.

• Bizbuysell

• Bizquest

• Twitter Page

• Facebook Page

• Blog Page - Playbook Advisory

• Playbook Advisory Active Listings:

• Events & Seminars with Jim Peddle & other professionals

• Partnerships & Joint Ventures

what do you attribute your success?

Our success stems from our commitment to continuous learning and client-first service. We apply a consistent methodology to every transaction, which has been instrumental in our achievements. Furthermore, I value building relationships with clients that are likely to be positive and productive throughout the sales process.

Do you refer business to other professionals? Bankers, Accountants or Attorneys?

Absolutely! We frequently refer clients to trusted bankers, accountants, attorneys, and other specialists. This network not only supports our clients' needs but also expands our reach and capabilities in the business brokerage field.

What do you look for in your Team Members?

We seek individuals who are self-motivated, resilient, and client-focused. The ability to embrace challenges and continuously seek growth opportunities is crucial.

What made you choose your current location for the Corporate Office?

Our office is strategically located on Chicago’s North Side, near key transport links and Wrigley Field. This location supports our operational needs and provides excellent growth opportunities, despite my personal allegiance to the Sox!

What are Your responsibilities as the business owner?

In the beginning, I managed nearly all aspects of the business, from incorporation to SEO optimization. Today, my role encompasses overseeing our strategic direction, ensuring client satisfaction, and driving business growth.

Have you ever turned down a client?

Yes, compatibility and mutual respect are crucial in our engagements. We prioritize working with clients who respect our expertise and share our goal of successful business transitions.

How can someone contact you regarding buying or selling a business?

We can be reached directly at 312-525-9622 or via email at president@playbookadvisory.com. We encourage all interested buyers and sellers to call us to learn more about what we do.

Author: Jim Peddle,
Tags: Business Broker, Playbook Advisory, Sell a Business, Jim Peddle

Other Reading:

Structuring an SBA Loan to Buy a Business

Playbook Advisory

A Full Service Business Brokerage Firm

www.playbookadvisory.com

312-525-9622