Al Hemond, Client Testimonial
I was part of a small startup company for about ten years.
I bought into it in 2009, and at the time, the company primarily focused on consulting physicians for disability insurance companies. We started with around 180 consultants and built the business up to about 65 employees. Revenue grew from about five million to fifteen or seventeen million dollars annually, with strong profit margins.
The founder of the company was older than I was at the time, and he had been looking for someone to buy the business for a while.
Eventually, another partner and I joined, and we significantly accelerated growth. Over the course of eight or nine years, we essentially tripled the company’s revenue.
As we approached our sixties, we became very interested in transitioning the business.
We had built relationships with major companies like MetLife, Prudential, and other large insurance providers, which made the business an attractive acquisition for consulting firms or larger organizations that specialize in service-based businesses.
We also had a very strong team in place. We had hired some of the best people in the disability insurance space, which is a well-established industry, particularly in Portland, Maine. Any buyer would not just be acquiring the business, but also the talent behind it.
We had known Frank for some time, so we brought him in to talk through what he could do for us.
He walked us through his approach and how he would work to achieve a reasonable price for the business. He gave us confidence that he could deliver. We liked his pricing, we liked the team he brought to the table, and we appreciated his demeanor.
He was confident, not cocky, and that made a difference.
Frank was instrumental in helping us stay focused.
He took a lot of the stress off our plate and allowed us to keep running the business while he handled the transaction process. He worked directly with our accountants, our legal team, and our bankers, coordinating everything end to end.
He also did an excellent job helping us think through the tax implications and ultimately finding the best possible outcome for us.
He’s very trustworthy, and he went the extra mile for us.
If you’re on the fence, I would say meet Frank and his team. I would recommend him to anyone who is considering selling their company, even if they’re just exploring their options.