Cleveland-chapter

I Wish I Knew Then What I Know Now…

CINCINNATI CHAPTER EVENT

I Wish I Knew Then What I Know Now...


Lessons learned from David Tramontana, hear about the Home Care by Black Stone sale to a strategic buyer. Home Care by Black Stone acquired for $40 million by Almost Family Inc. – Cincinnati Business Courier (bizjournals.com). Topics will include:

  • When is the right time to exit? Considerations:
    • The economy and within your industry
    • Is your business prepared for a process?
    • Are you prepared emotionally, financially, etc..?
    • What are your options and alternatives to a sale?
  • Do you have the right advisor team around you?
    • Business Broker or Investment Banker, how do you choose?
    • Attorney: Corporate attorney or specialist?
    • Financial Planner/Wealth Manager, will your after-tax proceeds meet your goal?

Talking through establishing the team, picking advisors, prepping the company, knowing when the time is right (or not right), etc., can serve for a good 30-minute discussion.

Learning Objectives

  • Understand how to select a well composed team
  • How to prepare a company for a sale
  • When it is a good time, or when is it not a good time, to sell a company

 

Meet the Presenter:

Learn from leading expert David Tramontana, FocusCFO Area President.

Meet the Presenter

 

Thank you to our Sponsors!

This event will be held at The Kenwood Towers.

Address: 8044 Montgomery Road, Cincinnati, OH 45236.

EXIT PLANNING IS GOOD BUSINESS STRATEGY

The EPI Central Ohio Local Chapter is different than other groups because it brings together a diverse group of professionals from a wide range of specialties that can naturally work collaboratively on exit planning, succession planning, value growth, transaction or any engagement from both sides of the equation. The chapter meets regularly to network, reconnect, grow knowledge, and sharpen their skills with a common goal: Change the outcome for transitioning business owners. Make plans to join us for future events and connect with the local leadership by visiting www.EPICincinnati.com

About the Presenter


David Tramontana

David Tramontana

FocusCFO Area President

Meet David Tramontana:

David was born and raised in Sidney, OH, a small town of 15,000 located in west central Ohio. His father was a surgeon and an immigrant to the U.S. from South America in 1956. His small-town values and a work ethic that was second-to-none made a lasting impression on David.

David had always planned to attend Miami University, often referred to as the Harvard of the Midwest. After being accepted to Miami, he was lured to visit Ball State University by an academic scholarship offer. The Presidential Scholarship waived out of state fees, making the tuition comparable to Miami’s. After visiting both schools, David chose Ball State as it had an equally regarded business school and felt like a better cultural fit.

While at Ball State David was in the Honors College and active in his fraternity, holding multiple offices. After his junior year, David obtained an internship in a financial services sales position with Northwestern Mutual in Dayton, OH. The process of learning professional sales from an Industry leader was very exciting. During his first summer, David attended the company’s annual meeting in Milwaukee and was impressed. His internship extended into his senior year of college. He was drawn to this field because he was providing a meaningful service to the community, he had the ability to make an unlimited income, and to be an entrepreneur by building his own practice. In January of that year, David was presented with an opportunity to join full-time at the end of his school year.

The next 3 years, David worked tirelessly building an insurance and financial services practice in Dayton. The work ethic and integrity instilled in David during his early years would prove valuable in building relationships throughout the community. Toward the end of his third year with Northwestern Mutual, David began to evaluate his future and wondered if he wanted to spend his entire career in financial services. While he enjoyed the relationship building and financial planning aspects, he felt he had more to contribute. The residual income of a financial planning practice can make it difficult to leave after 5 years, so this was the time to pivot into a new field.

This move allowed David, and his new wife, to move to Cincinnati and consider obtaining an MBA. David had hoped to build and own a restaurant franchise by partnering with an experienced family member with the MBA as a backup plan. Less than a year into this venture, David was approached with an opportunity that would change the trajectory of his career path. David was presented with a chance to run a Health Force Franchise. The early years of being a franchisee saw continuous change. By the time the third anniversary of the business rolled around, they had seen three different franchisors. Even with all the challenges, David had built a $3 million business doing non-skilled home care and providing temporary medical staffing. By the end of 1999, the franchisor abruptly exited the business and the franchisees could become independent businesses. David become a partner in the business in early 2000. Over the next few years the business shifted to a 100% home care model while maintaining profitability.

David began to get involved externally in the industry. In 2001, he joined the Government Affairs Committee of the State Association for Home Care; and in 2002, he joined the Montgomery County Council on Aging. 2004 proved to be a break-through year for the business. Medicare certification occurred, funding in Montgomery County increased for senior services and an opportunity to expand to Cincinnati arose. The next four years marked a significant period of organic growth where the business grew from $3M in 2003 to over $10M in 2007.