Dave Richards, Managing Partner

Dave Richards, Managing Partner
Dave has experience in all areas of federal and multi-state taxation and is the partner in charge of the firm's Transaction Advisory Group. He regularly advises firm clients on selling their business, mergers, acquisitions, and joint ventures.
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Recent Posts

How Will Tax Reform Impact M+A Activity in the US?

The recently passed Tax Cuts + Jobs Act (TCJA) includes changes that impact almost all aspects of the current tax system. Some of these changes will also directly impact the volume of mergers and acquisitions (M+A) we see happening across the country in the near term, as well as the way deals are modeled and negotiated.

Could Your Business Benefit From a Merger or Acquisition? Top 7 Reasons for M+A.

I’ve helped countless business owners sell their businesses over the years. On the other side of the spectrum, I’ve also helped business owners expand their businesses through mergers and acquisitions (M+A). The benefits that can come from M+A are numerous.

Below, I’ve outlined some of the top reasons our clients have decided to merge with or acquire a new business:

Acquisition Due Diligence - 3 Key Areas to Investigate

Due diligence is a vital step in the process of acquiring a business. As a buyer, you’ll want to ensure that you know exactly what you’re purchasing prior to agreeing to the transaction—this not only includes assets and future sales forecasts, but also liabilities, contracts, employee agreements, litigation risks, intellectual property, and much more.

By doing your homework in advance, you’ll not only be prepared to deal with any potential issues, you will also have a better sense of the value of the company you’re hoping to purchase. Your due diligence will vary depending on the type of company you’re purchasing, and the type of industry you’re in, but in general, here are some of the key areas you’ll want to investigate:

Selling Your Business - 4 Things to Know about EBITDA

You may not be quite ready to sell your business yet, but if you're considering the possibility, now is the right time to start planning. As I've discussed in previous blog posts, selling your business is a process, not an event. One of the most important parts of that process is determining the value of your company.

So how do you know what your company is worth? Many deal values are simply multiples of Adjusted EBITDA, so it's critical to understand what this number is, and how to arrive at it. Here are the top 4 things you should know about EBITDA and how it relates to the sale of your business:

4 Tips for Selling Your Business

In a recent workshop that CRR hosted, I joined several industry-leading experts to walk our clients through the process of selling their business—from tax, legal, marketing, and financial planning perspectives.

For those of you who weren't able to attend, I've summarized a few of the key discussion points that came up during the workshop.

5 Ways to Prepare for the Sale of Your Business

As I often tell my clients, selling your business is a process, not an event. Determining the right time to sell, and finding the right buyer to sell to, can be stressful. There are tax and legal issues to consider, and negotiations can be complex and lengthy. However, as is true for most major business (and life) decisions, preparing as much as possible ahead of time can help you feel more confident, smooth the transaction process, and increase your chances of realizing a higher return on your life’s work.

6 Stages of Selling Your Business

I often meet with clients who have successfully managed their business for many years, but have no real plan when it comes to cashing in their life's work. As a business owner, you're focused on day-to-day profitability - and rightly so - but it's equally important to have an exit strategy plan that will allow you to realize the value of your investment.