Dave and Val Hill
We are so grateful that the Alberta Pharmacists Association (RxA, the pharmacy leaders in Canada), our banner, PharmaChoice (over 800 independents in Canada=fastest growing), and, PharmacyU for having Max Beairsto (Enterprise Valuators Corporation, Evcor) and Mike Jaczko (KJ Harrison) speak and educate us about the scary topic of ‘Succession Planning’ over several years at their Continuing Ed courses. After being educated and more informed, I got past my ‘do it myselfitis’ and my ego to realize they knew a lot more than me in selling our successful, medium-sized pharmacy. We had great accounting records because of dealing with very good accountants (KBH in Edmonton), and good spreadsheets of our aggressive growth. However, Max packaged up the data in very professional terms, finessed the presentations to show the ‘blue sky’ potential, and they calmly guided us through the 9 month process. By presenting the documents only to the dozen plus potential buyers they created the competitive environment that ultimately brought us the greatest possible return – AND, we were shocked! They knew intimately all the players with qualified resources and avoided the ‘looky loos’. We chose a very tough lawyer, who was instrumental in ensuring our stress (for my wife’s sake) was minimized and confidently collected on all the promises. We recommend Evcor’s team wholeheartedly as any independent business that is even thinking about selling, or growing their business properly for a future exit, should back up the truck to this team. We are fortunate to have followed the advice of others, and use these guys to ‘get all of the money off the table’.