Michigan small business owners may be wondering if the time to sell their company is now or in the near future. There are many things to take into consideration, decisions to be made and actions to be taken if an owner is contemplating a sale.
Michigan businesses may be interested in an alternative method to take a company public. This method allows the company to save time and money while gaining access to a much greater pool of capital than when the company was privately owned.
As many buyers, sellers and developers know, without some creative and efficient solutions, real estate disputes can span months and even years. The legal ins and outs are often complex, and while avoiding litigation is preferable, sometimes it is necessary to go to court to achieve the best outcome.
The sale or purchase of a business requires careful negotiations and planning. The transaction does not have to end or even reduce operations, but sometimes a restructuring based on financial analysis is necessary. In these cases, it is important that the parties to the transaction have legal support to analyze financial statements and prepare business agreements. Employment agreements are also a factor, and legal guidance can help defend against disputes in the event that changing the business structure impacts employees.
Downtown Detroit's Holiday Inn Express & Suites is now under new ownership. The sale of the business was finalized in July but only recently announced. The new owner, Vic Partners LLC, is a private equity firm mostly made up of Detroit-area investors, and the group plans to put money toward a range of improvements and hire new staff.