When David Price, the owner of RA Lock Security Solutions, decided it was time to sell the family-owned business that had been operating since 1969, he faced a daunting journey filled with challenges and uncertainties. Selling a business is no small feat, and David knew he needed guidance to navigate the process. Enter Nolan Duck, Founder and CEO of DBG Advisors, whose expertise and steadfast advice helped transform a difficult experience into a resounding success.
The Challenge
In 2015, David and his family began exploring the idea of selling their business after being approached by a prospective buyer. Unsure of where to begin, they were introduced to Nolan by a trusted advisor. As a first-time seller, David quickly realized the complexities involved. “Deciding to sell was easy,” David shared. “Making sure we were ready to sell was a completely different story.”
The initial sales process proved to be a significant challenge. After months of preparation, a buyer backed out at the eleventh hour, demanding a 25% price reduction. The fallout was chaotic, with employees already informed of the sale and expectations set. “It was a complete disaster,” David recounted. Despite the setback, Nolan’s steady guidance provided much-needed reassurance.
Nolan’s Approach
Nolan’s role extended far beyond that of a broker. He was a trusted advisor, guiding David and his team through every aspect of the process. Nolan took the time to conduct a thorough evaluation of the company, identify areas for improvement, and help build value before going back to market.
Building Value Before the Sale:
Nolan didn’t hesitate to offer honest feedback. “He wasn’t worried about hurting our feelings,” David recalled. “For example, he pointed out our obsolete inventory and helped us address it.” Nolan worked closely with the team to clean up accounting software, streamline inventory processes, and ensure the business was in the best possible position for a future sale.
Integrity First:
When the initial deal fell through, Nolan advised against moving forward with the buyer, even though it meant delaying the sale. “Nolan wasn’t out to just make a commission. He wanted to make sure we were making the right decision,” David said. Nolan’s willingness to prioritize David’s long-term success over a quick sale was a defining moment.
Comprehensive Support:
Nolan’s guidance extended beyond the business itself. In 2024, he helped facilitate the sale of the company’s building to the new owner. “He has so many talents,” David noted. “He’s straightforward, honest, and incredibly knowledgeable.”
Responsive Communication:
David highlighted Nolan’s responsiveness as a key factor in his positive experience. “No matter what, he always got back to us right away,” he said. “Even if he was in a meeting, we’d get a quick text letting us know he’d call as soon as he could.”
The Result
In 2018, after revisiting the market with a stronger, more attractive business, Nolan helped secure a new buyer for RA Lock Security Solutions. The process was smooth, and the sale proved to be a win-win for everyone involved. “It was a great sale and a great opportunity for everybody,” David shared.
Nolan’s expertise and dedication ensured that the business sold for its full value, leaving David and his family confident in the outcome. “I could not think of a more honest person in my life than Nolan,” David said. “He was excellent in guiding us through the entire process.”
“We listed our company with DBG Advisors and quickly learned that Nolan truly had our best interests in mind. He opened our eyes to issues that could have hindered the sale and helped us address them. Thanks to his guidance, we sold our company at full value and felt confident in the entire process. Nolan is straightforward, honest, and incredibly knowledgeable. We wholeheartedly recommend him to anyone thinking about selling their business.”
– David Price, Former Owner of RA Lock Security Solutions
Conclusion
Midlothian, Texas
