By Tim Cunningham and Dan Menzer, OPTIS Partners
In 2012, there were approximately 300 reported sales of independent insurance agencies and brokerages. We know from experience that many of these transactions and nearly all larger sellers—as in all other industries—turn to the guidance of an independent advisor when they're thinking of conducting a merger or acquisition. Is it really more prudent to engage an advisor than to simply go it alone?
M&A advisors can bring an extensive array of services to the table, but in the end, they generally fall into the following primary categories:
- Advocate for the seller in all aspects of the process
- Experience from other transactions with buyers and other sellers
- A dose of reality for the seller.
Most sellers only get one opportunity to sell the business they have spent years building: providing expert advice and services for their clients, advocating on their behalf in pricing negotiations and claim situations. When they finally decide to find the right buyer for their firm, it's time for the selling agent to become the client and call on an expert advisor for advice on how to sell the business, something they've probably never done before.
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