Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
“Opportunity comes knocking, and you open it sometimes,” says Janis Hall, long-time co-owner of the Southwest Journal newspaper in Minneapolis. She bought Minnesota Parent this spring, after its Texas-based publisher announced its closure.
“We got a phone call out of the blue from the publisher. She said, They’re shutting us down,” Hall says.
They paid cash, although Hall wouldn’t say how much. “It didn’t cost very much. The owners didn’t know what they had.” she says. “It did put a crimp in our cash flow.”
Hall and partner Terry Gahan had experience with one other acquisition, which she says helped in this case. They purchased Skyway News and published the first issue Sept. 10, 2001. Its first issue of Minnesota Parent published March of this year.
Hall says they follow no long-term growth plan. But both purchases proved to be smart because they added revenue at a time when the existing publications had peaked.
Janis Hall, Southwest Journal, Skyway News, Minnesota Parent: 612.825.9205; sw**********@***st.net; www.swjournal.com
