Selling under pressure
Selling under pressure:
When Ian Bowtell lost his sight during life-saving surgery, Counted helped him sell his iconic Toowoomba business—without any staff losing their livelihoods.
The opportunity
“It’s not easy to sell a niche business” says Bronwyn, “but we did have one interested buyer”. With Ian unable to sustain his role as Managing Director, he and Bronwyn’s focus was on their staff and the continued longevity of their business.
“Katina, Steve and Shane provided unconditional support, working tirelessly under pressure, liaising with the buyer and our solicitors throughout the process”, says Ian. In a sale that could have been derailed by one detail, Counted made sure every detail was in order.
The challenge
“I started at Donaldson’s Electric in 1973”, says Ian Bowtell, “and bought the business outright in 2007”. As Managing Director—and with wife Bronwyn working in the business—Ian and the company faced the unthinkable when he was left permanently vision impaired from complications after routine surgery and spent almost 3 months in hospital.
“It brought Ian’s retirement on much earlier than we’d planned”, says Bronwyn. “We had to sell—and there was one interested party—but we were facing many challenges and selling a niche business under such vulnerable circumstances seemed almost impossible”.
The results
“Steve and Katrina chaired the negotiations and basically brought home a miracle deal for us—the sale went through”, says Bronwyn. “They managed the whole process without a hitch – and all of our long term staff entitlements were managed to the satisfaction of all parties—we couldn’t have done it without them”
For Ian the loss of vision catapulted him into retirement too. “It’s a confidence thing”, he says. “I’m getting used to my new world, reassured that our accountants will continue to have our backs”.
“It’s just seamless—they take the stress and the work out of it and always seem ahead of the trends and legislation”.
Bronwyn Bowtell
Owner
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