Smart Business Magazine, December 2019
30 Smart Business Cleveland December 2019 DEALMAKERS DEALMAKER FEATURE Familiarity breeds comfort not always a good thing in the world of M A As SueAnn Naso and Carmella Calta discussed the sale of Staffing Solutions Enterprises it became tempting for these friends and business partners to skip some of the key principles of effective dealmaking You think because you know each other because youre both intimately involved in the business that you dont necessarily have to do a lot of planning says Naso who bought the staffing firm from Calta last month We almost went down that path It was the professional advisers we brought to the table who said Nope you still need to take the time to go through these steps Had they not come back and challenged us around that we may not have put the best structure in place from an organizational perspective for me to acquire the business When buying a business take the time to do it right SueAnn Naso Naso has been with Staffing Solutions since 1992 serving as president since 2009 The sale was initiated by Caltas decision to retire following a 45 year tenure with the organization In this Dealmakers feature we spoke with Naso about the planning that went into the sale and the important role that advisers played in the transaction Lay the groundwork When Naso became president in 2009 she also bought a small share of the company Thats when the topic of succession planning first came up She never had children so there werent others in the family that were interested in the business Naso says Her option was pretty much to sell the business And I said Well I dont BY MARK SCOTT mscott@ sbnonline com Smart Business Dealmakers is a weekly digital newsletter featuring the top business leaders in the Cleveland M A scene Sign up today at www smartbusinessdealmakers com cleveland
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