Mergers and Acquisitions with Matt and Randy Crabtree

Is your firm ready for a sale, even if you're not planning one yet? 🤔 Sarah Prevost, Lynda Artesani, and Steve Libhart welcome Randy Crabtree, CPA, co-founder and partner of Tri-Merit Specialty Tax Professionals, and his son Matt Crabtree of Breakaway Advising for a father-and-son conversation about mergers and acquisitions. Matt shares the advisor's view of today's M&A market, while Randy speaks from the trenches after multiple deals and his recent pivot from the specialty tax firm he started 20 years ago. In this episode: ✅ Why the M&A market has been "the wild west" since 2016, and how COVID changed due diligence ✅ How $3.7 trillion in private equity dry powder is driving deals in professional services ✅ Randy's story of realizing he wasn't in the wrong company, just the wrong role ✅ What happens to owners after the sale, and how long they typically stay on ✅ Why the right buyer can matter more than the highest offer ✅ Matt's Four T's of preparing to sell: Time, Talent, Traction, and Transparency ✅ Why to start preparing about five years before going to market ✅ The value of an M&A attorney and a quality of earnings report ✅ How AI and new training models will shape the next generation of the profession Perfect for law firm owners, accounting firm owners, and anyone in professional services who wants to understand their options and build a business that's valuable, whether or not they ever sell. 00:25 Introduction to the Crabtree Family and Their Expertise 03:17 The Current State of Mergers and Acquisitions 06:13 The Impact of COVID-19 on M&A Dynamics 09:14 Preparing for Sale: Timing and Strategy 12:06 Personal Experiences in Business Transitions 15:02 The Role of Culture in M&A Transactions 17:55 Navigating Post-Sale Challenges 20:57 The Future of M&A in Professional Services 23:42 The Influence of AI on Business Valuation 27:26 Private Equity and Market Dynamics 28:22 The Wild West of AI in Business 29:37 Navigating the Private Equity Landscape 32:21 Generational Shifts in Work Ethic 33:15 Embracing Change in Professional Services 38:17 Preparing for Business Transactions 40:21 The Four T's of Selling a Business 44:29 Building a Strong Advisory Team 🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips. 📩 Have a question or topic idea? Email us at info@accountantslawpod.com 🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com 🌐 Visit us at accountantslawpod.com Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice. The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.