Rick Gould, managing partner of New York-based PR mergers and acquisitions consultancy Gould+Partners, has penned a new book, “Doing It the Right Way: 13 Crucial Steps for A Successful PR Agency Merger or Acquisition.”
The how-to guide provides M&A tips and advice for PR agency owners to boost profitability, enhance valuations and execute a successful agency sale.
The book features 13 steps PR agency owners should take over the course of a sale and offers checklists designed to guide owners through the process of selling an agency, detailing the varying types of agency buyers, business plans and key financial metrics involved. The book also provides guidance on the alternate roles of the CEO and CFO in the context of a sale, and how to match the vision of the seller with the vision of the buyer.
Gould told O’Dwyer’s he created the book to educate PR pros on the inner workings of PR M&A.
“When I get calls, emails and comments during meetings that a prospective seller expects to receive three-to-five times ‘net revenue’ if they sell his or her firm, it frustrates me,” Gould said. “It creates false expectations and false hopes. I have to give the owner a reality check for what the agency is most likely worth.”
The book will be released in May and will be available on Amazon.com. Profits from this edition will be donated to children’s charities.