Since I was a young boy, I have always been fond of the “things and stuff” that my parents had accumulated over the years. I should explain that my father was 58 years old when I was born; so much of his “stuff” was already approaching “antique-hood.” In my early 20s I had the opportunity to travel on business to many countries around the world, and some of the more portable stuff went with me. At the same time I acquired more stuff.
Then came marriage and the accumulation of more stuff, which would one day go to the kids. Now, 50 years later, much to my surprise and chagrin, I, along with many of my contemporaries, find that the kids don’t want it. It’s STUFF, and it takes up space. And all this time I thought it was valued treasure!
Why do I tell you this? Well, aside from my pity party which no one attended, I see the same thing happening with businesses. Last year, after selling my company, I came to work as a Business Development Officer for David Mahmood, an old acquaintance and the founder of Allegiance Capital Corporation, a middle-market investment bank. As we search for entrepreneurs who might be interested in selling their businesses, raising capital or acquiring other businesses, we’re seeing a consistent theme. After all their years of hard work, providing for their families and expecting (hoping) their offspring would one day carry on the family business, a high percentage of these owners find what I found – the kids don’t want it.
I read recently that approximately 65% of middle-market privately held companies, are owned or controlled by individuals 65 and older, and close to half of them have no family members who want to take over the business. That means a tremendous volume of wealth will be changing hands over the next few years.
Because Allegiance Capital Corporation caters to that market, we look at this as a significant opportunity to play a meaningful role in the lives of these entrepreneurs. Our typical clients have been so involved in building their businesses and providing for their families that they haven’t taken time to reap the benefits of their hard work. That’s where we come in. We can help these entrepreneurs free up time and capital while they still have the health to enjoy them.
If this sounds like you, or someone you know, I urge you to give us a call. We’d be glad to bring you to Dallas for a “meet and greet” session. We have been helping successful entrepreneurs achieve
liquidity events for over 19 years and would appreciate an opportunity to help you as well.
You can reach me at 214.694.2287.