Fred Whitaker of Cummins & White, LLP was featured in the latest issues of Oil Express. Both issues quote Whitaker straight from his presentations earlier this month at the 2014 Pacific Oil Conference.
In “Part I – How to Prepare for Buy-Sells“, Whitaker expresses the importance of the buyer-seller relationship and why they both must exercise due diligence to ensure the sale of a business runs smoothly. “Good deals go bad if inserted into operations that are sloppy or inefficient,” said Whitaker. “Deals must be accretive or adjacent (for buyers), otherwise operations will fail.”
“Part II – How to Prepare for Buy-Sells” discusses the relationship between the seller and their prospective buyers and how to make sure they have the financial ability to close on the deal. “Finances are not the only criterion to consider when vetting a buyer, said Whitaker. Sellers must look at how the buyer will treat company employees and how the buyer will interact with the community. The buyer may not have the same commitment to the community,” he said.
For questions regarding these articles, please contact Fred Whitaker at email@example.com or 949-852-1800.