Buying and Selling Transportation/Logistics Companies with Peter Stefanovich Peter Stefanovich and and Joe Lynch discuss buying and selling transportation/logistics companies. Peter is a co-founder of Left Lane Associates, a Canadian mergers and acquisitions firm focused exclusively on the North American supply chain industry. About Peter Stefanovich Peter Stefanovich is the Managing Partner at Left Lane Associates, a mergers and acquisition firm representing buyers and sellers in the transportation, logistics, and supply chain industries in North America. Prior to co-founding Left Lane Associates, Peter worked at Radiant Global Logistics (formerly Wheels Group) as a Senior Business Development Manager. Peter’s clients included Sobeys, BestBuy, Steris, and many others. Peter earned a dual major in Business Finance and Political Science at Western University. About Left Lane Associates Left Lane Associates is a Canadian mergers and acquisitions advisory firm focused exclusively on the North American supply chain industry. Left Lane helps maximizes enterprise value for shareholders looking to sell their businesses. For companies looking to buy, Left Lane provides strategic thinking and thought leadership that helps their clients find the perfect cultural, geographical, and sector fit. Key Takeaways - About Buying and Selling Transportation/Logistics Companies Peter shares the insights that he has gained from working with both buyers and sellers in the logistics industry. He tells us such things as why now the best time is to sell a logistics company, things to do when preparing to sell, how long the selling process takes, and why sellers choose to use a broker. Owners of transportation and logistics companies hire Left Lane to sell their business because: Owners in this industry have likely never sold a company before, so they want to trust the process with someone more experienced in the process. You only get one chance to sell your business - once it’s done, you can’t go back Brokers specialize which lets owners focus on their business while preparing to sell. Owners have many reasons for wanting to sell – personal, economy, retirement, industry, change of pace, etc. Owners of transportation and logistics companies often sell because of the four dreaded Ds: divorce, death, delinquent partner, and disease. To receive top dollar for their companies, owners must prepare by taking care of the following: Legal issues must be resolved – internal and external Get authorizations and certifications in order Get rid of underutilized assets Release underperforming employees Lean out the organization Maximize EBITDA (earnings before interest, taxes, depreciation, and amortization) Develop a specialization Technology (CRM, TMS, website, and social media) What people perceive about your company is often based on your web presence. Any dollar you save could be worth 3x-4x more when you sell Learn More About Buying and Selling Transportation/Logistics Companies Peter Stefanovich monetizeyourco Left Lane Associates The Logistics of Logistics Podcast If you enjoy the podcast, please leave a positive review, subscribe, and share it with your friends and colleagues. The Logistics of Logistics Podcast: Google, Apple, Castbox, Spotify, Stitcher, PlayerFM, Tunein, Podbean, Owltail, Libsyn, Overcast