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When business owners John Hartman and Ted Gallagher were looking to sell E.H.C. Associates, they enlisted the help of Joseph Guarino, Principal, President, and CEO of LINK Business. E.H.C. trusted the firm to find a company that would carry their legacy forward. “The LINK team was instrumental in finding the perfect buyer for me, my partner, and our employees. We insisted that we wanted a local buyer that would not cut costs by terminating staff or making major changes to our team. Joe was able to take this information and find us a local buyer that has the same morals and sense of community that we have,” says Ted Gallagher, E.H.C.’s Vice President and Partner.
For Lou Castelli, Managing Partner at PennSpring Capital, the desired outcome was to find businesses with significant potential and to grow it with the owners “so that everyone wins.” The local private equity firm typically only buys 51-60% of companies. They invest capital and operational expertise in professionalizing and ultimately fully monetizing that business for them and the seller.
“LINK did a great job of bringing E.H.C. to us (a good, well-capitalized, experienced buyer) and represented their potential well. We got our desired outcome of being able to execute on a deal and invest in a company that we think has high potential,” says Castelli.
Each group member worked with other local experts to make this transition smooth. Accountant Jeff Bleacher ensured E.H.C. was in the best financial position possible to facilitate an agreement that benefited both the buyer and the seller, and Matthew Kelly, an attorney, provided legal guidance.
“Lancaster County is a very collaborative place to do business. Most of our business comes from referrals from accountants, attorneys, wealth planners, and consultants that work with the great businesses in our community. As we also refer our clients to these professionals, we develop collaborative working relationships,” says Guarino. Because of the collective work of these Lancaster business professionals, E.H.C. will continue to grow and serve this community.
If you want to learn more about LINK Business and the merger and acquisition division, LINK Enterprise, visit linkenterpriseusa.com
Lancaster Legacies: Companies in Lancaster are known for their strong work ethic, collaboration, and deep connection to the community. In this series, Fig features multi-generational legacy businesses that have stood the test of time and made changes as they look to the future.