Craft Talk Recap: Gary W. Herviou of A Neumann & Associates, LLC
Presented at OCBA Lunch Meeting on October 17, 2024
At our recent OCBA lunch meeting, Gary W. Herviou from A Neumann & Associates, LLC gave an insightful talk on his firm’s approach to helping business owners with succession planning, business valuations, and the sale or transfer of businesses. With years of expertise, A Neumann & Associates assists business owners in New Jersey through all stages of mergers and acquisitions.
Planning for a Business Transition
As Gary emphasized, preparing for a successful business sale is a strategic process that ideally starts three to five years before the planned sale date. During this period, A Neumann & Associates helps business owners understand:
- Business Valuation – Knowing the market value to inform sale prices or family transfers.
- Exit Strategy and Timing – Preparing for a smooth transition that maximizes value.
- Deal Structure and Tax Implications – Ensuring the best possible financial setup.
- Transition Planning – Offering support and strategic advice for a seamless transition.
Gary shared an example of working with a family-owned business, referred by OCBA member Steve Pelligrinelli, that is considering passing the business down to the next generation. Though not actively planning an open-market sale, they sought a valuation to better understand market worth and make informed decisions. As Gary noted, whether or not the business ultimately engages a broker, the goal is to empower owners with the knowledge needed for smart planning.
Industry Focus and Services
A Neumann & Associates focuses on businesses with revenue of $500,000 and above, including family-owned companies, partnerships, and private firms across multiple sectors—especially service-based industries, retail, and manufacturing. While the firm mainly represents sellers, they occasionally work on the buy-side under retainer agreements.
Upcoming Exit Strategy Seminar
For those interested in learning more, A Neumann & Associates is hosting their annual Exit Strategy Seminar on November 15th in Princeton. This invitation-only event covers the entire business transaction process, from valuations and confidentiality to the unique considerations of privately held businesses. To learn more or reserve a spot, reach out to Gary at Gary.Herviou@neumannassociates.com or call 908-415-3700.