In this episode of Printing’s Alive, Warren Werbitt and Kelvin Gage discuss their journeys in the printing industry, focusing on Kelvin’s path from starting his business to selling it to Australia’s largest print company. They delve into the complexities of deciding to sell, involving external help, and negotiating while maintaining leverage and secrecy. The conversation addresses emotional and Family considerations, financial discipline, and business readiness. Kelvin shares insights on creating win-win acquisition deals, managing staff reactions, and the emotional aftermath of selling. They also explore challenges working for the acquiring company, offering advice for potential sellers, and balancing outsourcing with new equipment investments.
(0:00) Introduction and Warren’s early printing journey
(1:33) Kelvin Gage’s background and connection to Warren
(4:36) Kelvin’s entry into the printing business
(9:19) Growth and development of Kelvin’s company
(13:44) Deciding to sell the business
(18:01) Bringing in external help and accountants
(20:58) Negotiating with the largest print company in Australia
(22:47) Maintaining leverage and secrecy during negotiations
(25:44) Emotional and family considerations in selling
(27:13) Always being prepared for a potential sale
(30:40) Financial discipline and business readiness
(33:21) Business valuation and deal structures
(36:56) Creating win-win acquisition deals
(41:00) Selling the proprietary limited entity
(42:10) Informing staff and managing reactions
(45:01) Emotional aftermath of selling
(47:51) Staying on and earn-out clauses
(51:21) Understanding deal terms and transition
(54:30) Challenges working for the acquiring company
(55:57) Advice for those selling their business
(57:43) Knowing your customers and business focus
(59:02) Outsourcing versus new equipment decisions
(1:00:18) Offering guidance to others
(1:02:15) Sponsor: (Sponsor mention and closing remarks)
