Operating a business can be daunting in itself, and when it comes time to retire, move on to a new venture or pass along the ownership torch, selling your business can be a burdensome process. That’s why mergers and acquisition specialists are in business — to assist in assuring that the transition goes as smoothly as possible.
Here to answer this week’s “Behind the List” questions are Michael J. Rowley (chief operating officer) and Randall C. Raifsnider (senior manager) of Herbein Co. Inc. in Wyomissing.
Lehigh Valley Business: How long has Herbein Co. Inc. been operating in the region and what are its primary services?
Rowley: Herbein Co. Inc. has been serving clients since 1972, starting at a home kitchen table in Berks County. As our client base expanded, we opened offices in western Pennsylvania and we currently serve clients in over 40 states.
Although we remain strong in providing traditional accounting, auditing and tax services, we specialize in advisory services that go beyond the numbers to help our clients succeed. As an example, we provide merger and acquisition services on both buy- and sell-sides.
We have teams in place to assist clients with specialized services such as succession/transition planning, risk management, Affordable (health) Care Act consulting, asset-based lending, retirement planning and business valuations.
Through our subsidiary, Financial Outsourcing Solutions, we are able to offer internal audit services for financial institutions. Additionally, we are aligned with Herbein Wealth Management for wealth management services.
LVB: Merger and acquisition transactions can be very complex for a business owner. How do the M&A professionals at Herbein work with clients to provide the best solutions and outcomes?
Raifsnider: Our transactions advisory services group is uniquely structured. We have a core group of very experienced M&A professionals who consult with and provide key transaction advisory services, including both buy-side and sell-side due diligence, deal structuring, the preparation of quality of earnings reports, fairness opinions, etc.
In addition, our firm has an extremely wide breadth of industry knowledge across a number of industry groups. We are able to utilize this industry experience by incorporating individuals within the firm with specialized knowledge of a particular industry when working on a transaction within that industry.