Succession & Exit Planning
Buying the Family Business
When Matt Wilson of Deist Industries (Bucks Fabricating™, Switch-N-Go™ and AmeriDeck™) decided that the time was right to purchase the business from his father-in-law, he turned to Decision Associates for help in constructing a proposal. Matt wanted to own the business in full and not be obligated to the family – a smart move for a young entrepreneur who wants to make it on his own.
The purchase was a challenge for the whole family. Dale, his father-in-law who founded the company had grown it significantly over 17 years, and as with all owners, found it hard to give up the lifestyle of being the decision maker. He had taught Matt well and now he was ready to take over the helm. Taking over the business, while maintaining a good relationship with the family, was the goal. After all, there were many holidays and birthdays yet to celebrate together!
Matt worked with Decision Associates to decide how the purchase should be construed, drafted the appropriate papers and met with his Advisory team: his banker, attorney and accountant. After several meetings and re-drafts of documents, the deal was finally made. Matt is now the owner at Deist Industries and is excited to be working with his team as their leader.
Throughout the process, Decision Associates worked with Matt so that he had a fair offer to his family, and worked as a coordinator with all of the parties involved. As Matt commented, “The team at Decision Associates has great experience from a wide variety of industries that can be leveraged to help your business get through a particular challenge or project. The perspective and experience that Decision Associates was able to provide was invaluable to me during my first business acquisition.”
During this time, Deist Industries also lost an important employee. Matt was pleased that “Decision Associates was able to provide us with a person that worked well with our team and was very outcome focused.” Decision Associates is pleased with the outcome and knows that Deist Industries will prosper under Matt’s leadership.