New England Bailing Wire engaged George & Company during a period of significant uncertainty. What began as a request for a market analysis to understand the value of the business evolved into a time-sensitive sale following an unexpected change in family succession plans.

George & Company was asked to balance valuation realities, family dynamics, employee stability, and estate considerations—while ultimately bringing the business to market under challenging circumstances.

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Owner Situation

The owner of New England Bailing Wire was ill and evaluating long-term transition options for the second-generation family business. His primary concerns included:

• Understanding the value of the company
• Preserving the business legacy
• Determining whether his son wanted—and was prepared—to take over operations

Although succession within the family was the preferred outcome, the owner was uncertain about his son’s interest and readiness. With his health declining and limited time to execute a traditional transition plan, the owner sought professional guidance from George & Company.

Key Challenges

The owner’s failing health significantly compressed the timeline for decision-making. He did not believe he had sufficient runway to train his son to assume leadership.

Rather than immediately taking the company to market, the owner chose to invest in leadership infrastructure—hiring a new CFO, COO, and Director of Marketing—to create a stronger platform should his son step in.

Based on the company’s EBITDA at that time, George & Company initially valued the business at approximately a 5.5x multiple.

Approximately 20 months later, George & Company received a call from the owner. While on his deathbed, his son informed him of plans to relocate out of state, removing family succession as a viable option. Two weeks after formally engaging George & Company to sell the business, the owner passed away.

George & Company’s Approach

George & Company worked closely with the individual responsible for the client’s estate to reassess the business and prepare it for sale.

Key elements of the advisory process included:

• Recasting financials to account for the owner’s health-related impact and redundant overhead
• Evaluating significant machinery assets alongside declining trailing twelve-month revenue
• Setting realistic market expectations given rising costs and operational uncertainty

The business was taken to market with a working valuation range of approximately $3–$4 million and roughly $1 million in net working capital.

A major concern throughout the process was employee retention. To address uncertainty and prevent talent loss, George & Company met directly with key employees, affirming that the company would only be sold to a buyer who valued the workforce and intended to retain them—honoring the original owner’s wishes.

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Outcome and Results

Within six months, New England Bailing Wire was sold to a regional company with complementary equipment, operational capabilities, and a shared philosophy toward employees.

The business sold for $3.5 million. With the exception of a small number of roles, employees were retained following the transaction—providing continuity for both the workforce and customers.

Key Takeaways for Business Owners

This case underscores several important lessons for business owners:

• The importance of early planning: Waiting to confirm succession intentions can significantly limit options and value.
• Family dynamics impact outcomes: Emotional attachment to a preferred outcome can delay necessary decisions.
• Preparedness matters: Investing in leadership and infrastructure can create flexibility—even if original plans change.

From a sell-side advisory perspective, George & Company’s role is not always about maximizing price alone. In situations involving health concerns, family transitions, or legacy considerations, success is often defined by finding solutions that balance financial outcomes with human priorities.

Certain financial details, identities, and operational specifics have been generalized or omitted to protect client confidentiality.