This practice owner was with Transitions Elite from the beginning of their selling process. They were hoping for $5 million but since they were very eager to sell they were willing to go as low
as $4 million. We implemented our Elite Selling System™ which produced three offers: $4.5 million, $8 million and we finally closed on
$12.5 million (over 3 times what the client was originally thinking of accepting!).
This owner came to Transitions Elite after an offer of $1.5 million that another company had negotiated for them had fallen through just days before the money was due to be wired into their account. They were very disappointed and were advised to seek the help of Transitions Elite and within 4 months we had closed a deal for them for
$2.8 million (nearly double the deal that had fortunately previously fallen through!).
This owner was with Transitions Elite from the start of their selling process. In just under 120 days (4 months) we had negotiated 5 offers with a huge range, offers between $12.5 million all the way up to $22 million. The client accepted the second highest offer ($20.8 million) because the Transitions Elite team were able to secure the best terms with this particular buyer, but an offer range of almost $10 million illustrates the importance of obtaining multiple offers!
This practice owner originally hired a brokerage and a sales consultant to sell their practice but after 12 months both had concluded no one was looking to buy vet practices in the client's area. Transitions Elite was brought in to work their magic and almost immediately convinced one of our regular buyers of the opportunity. They agreed to buy and they paid an astounding
-$29 million for the two locations!
Two young owners, late 20’s & mid 30’s, took advantage of current market and opted to sell
for abetter quality of life. In a lightening fast 69 days Transitions Elite had closed a deal for
$3.75million (majority cash + equity in the holding co. at their request). They also got high annual salaries to continue as DVM’s but the
biggest win was changing to fixed hours, plenty of vacation time to spend with their young kids,
and they eliminated all practice/personal debt!
43 year old owner of a mixed (75%/25%) practice who no longer enjoyed ownership & wanted to spend more time with toddler son. She was ambivalent about selling but knew she had to act, and being a perfectionist she interviewed every broker in the US and eventually selected Transitions Elite as she knew her sale would take a lot of time and commitment. From going to market to close was it was an easy 4 mo.s and we got her 11x's multiple & just over $12 million.
50’s male ready to slow down but anxious about selling ... needed an assurance his associates
would be looked after & that his culture would not change at all (didn't think his community
would ever tolerate a corporate feel). Transitions
Elite found a buyer who put his mind at rest and
offered him top dollar. Only 4 months after going to market he had received $5.5 million in
cash, was preparing to travel with his older kids
& was 100% positive he'd made a great decision!
60 yo 'Feline only' practice owner was looking to transition over 5 years but needed less stress
ASAP! Main sale conditions: that the amazing culture she'd worked so hard to build remain
unchanged, and that her team be very well taken care of. Transitions Elite got to work and in 3 months had closed a deal for $3 million and we also negotiated an exit plan the owner was thrilled with, including building in her dream of mentoring new grads in the feline specialty!
Husband/wife team (both DVM’s) did not enjoy running a practice...just wanted to be great vets,
take care of community's pets, and go home to
spend quality time with their young kids. They saw an opportunity with the current market to escape their unhappiness and still continue to work so made a lifestyle decision to sell. Transitions Elite pulled off a very fast sale and got them
exactly what they wanted: ($3million cash + earnout & one being a board certified surgeon receives a very high (25%) production salary.
Owner in his 50’s wanted to be able to spend lots of time with his wife as soon as teenage kids left for college this year & next. Selling priorities were that his associates be looked after, and that his family legacy be preserved (they were a 2nd generation practice started by his father). In just over 3 months Transitions Elite had negotiated an all cash deal for just under $12 million and he and his wife were planning their first vacation in years!