Peter Spier Quoted in Middle Market Growth Article Addressing Guidance for Business Owners Looking to Sell
Peter Spier, a partner in the Quarles & Brady Business Law Practice Group, was quoted in a Middle Market Growth article that discussed guidance for business owners considering selling their company. There are many different areas to consider when going through the sale process, such as consulting with a wealth manager, an attorney with M&A experience and accountant.
An excerpt:
Finding an attorney should also be top of mind for a prospective seller, but not just any lawyer will do. Peter Spier, business law partner at Quarles & Brady, emphasized the importance of an attorney with transaction experience and many M&A deals under their belt. “If you need brain surgery, would you go and have your primary care physician, who you’ve gone to for 20 years, do the brain surgery?” he asked.
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Another role of the deal team is to set expectations with the seller about the time commitment that a transaction requires, and the scope and purpose of due diligence. Even in cases where the truth is ugly, it’s a mistake to try to cover up something negative related to the business. “The buyer’s due diligence is going to be extensive,” Spier said. “Don’t try to bury it; they will find it.”
Originally published in Middle Market Growth, November 14, 2023