After more than 30 years of operating your own accounting firm, you have finally decided to fully retire and sell your practice. This type of transaction can be extremely stressful and complicated. While there is no one thing you can do to make the process easy, there are things you can do to make it go smoothly.
With the national healthcare reforms the healthcare industry in New Jersey and around the country is changing. In the past few months, this blog has discussed recent mergers between different New Jersey healthcare facilities. These hospitals are hopeful that these complex business transactions can streamline operations and make the system more efficient and cost effective without sacrificing patient care.
When business goals in New Jersey include expansion plans, there are several options to consider. However, one of the best ways to expand - and do so quickly - is the acquisition of another company or business. The lead-up to an actual acquisition is crucial to a successful transaction. When a company does its due diligence and every detail has been addressed, an acquisition can go very smoothly.
Often a business restructure can help save a floundering New Jersey business. When a business agrees to a merger it can see an influx of capital, consumers and property. These can be just what a business needs to keep going in today's difficult economy.
Over the first nine months of 2012, the Atlantic Club Casino Hotel in Atlantic City, New Jersey had a gross operating loss of $13.6 million. In addition to these losses, the Atlantic Club's gambling revenue was down 11 percent in 2012 and it was ranked 10 of 12 in total slot machine revenue for the casinos in Atlantic City. All in all, the casino was struggling.
Buying a company is a complex business transaction. Acquiring a new business generally requires months of cautious planning and expert negotiation. In order for some acquisitions to be successful, complex agreements must not only be crafted, but they must be approved by governmental agencies and regulatory bodies. If steps are skipped, missed or improperly handled, acquisitions can very easily fall apart.
Two New Jersey banks have recently announced their plans to expand. The banks -- Investors Bancorp and Roma Financial Corp. -- have apparently reached a merger agreement. Under the terms of the agreement, Roma will become part of Investors. Investors will give $113.5 million worth of stock to Roma minority shareholders.
When a company is struggling it must change and adapt or face bankruptcy. In this difficult economy, many businesses -- large and small -- are in this predicament. They may be unable to turn enough profit to stay afloat. For companies in this situation, an acquisition can successfully resolve their financial issues. Through an acquisition, another company can take over the struggling business. It can bring an influx of new capital, new customers and help to save jobs.
It is important for any New Jersey business to have a plan for its growth into the future. Through mergers and acquisitions businesses can grow, change and evolve to meet the needs of their customers, meet their business goals and stay profitable into the future.
An important part of any business' corporate strategy can be expansion. By growing their operations, customers and facilities, businesses can significantly increase their profits. However, many mergers are more complex than they initially seem -- particularly if these mergers run up against New Jersey or federal laws, rules and regulations. When governmental agencies need to get involved, it becomes even more important to have experienced help to complete the deal.