DATE: September 27, 2022
Nolan’s “Get to Know Us” Blog Series highlights a different team member, offering an inside look into our company culture and the talented professionals who drive our firm. This post highlights Pat Nolan. Pat founded Nolan and Associates in 1976 and has participated in closing several hundred transactions across a broad spectrum of the middle market.
Here’s a little bit more about Pat!
1. Describe working at Nolan in 3 words.
Energizing, challenging and rewarding
2. What is the most rewarding aspect of working with business owners?
Assisting our business owner clients with the value realization / creation part of the transaction process is the most rewarding aspect of working with business owners. On the sell side, in most cases, with the sale of their business, the owners monetize the value they have created and experience the most significant economic event of their lifetime, following years of hard work and great sacrifices dealing with the daily challenges of business ownership. On the buy side, our business owner clients put themselves in the value creation business when they purchase a platform business or a business that they can bolt-on to an existing platform. Assisting our business owner clients with their sell and buy side initiatives that generate such watershed value realization / creation events for them provides us with quite a sense of satisfaction and accomplishment and an even greater appreciation for our business owner clients.
3. What is your #1 piece of advice for business owners considering a sale?
Prepare your business for sale while you are operating it: a.) accurate monthly financial statements, balanced client base, management team in-place, meaningful market position, etc., b.) be realistic regarding your sale expectations, and c.) hire an investment banker capable of capturing the very best outcome the market has to offer.
4. How do you spend your free time?
Most of my free time is spent enjoying my family – 3 children and 8 grandchildren. Additionally, I’m known to take a daily 4 mile walk, play a little pickleball and participate in other fitness related activities. I’m also enthusiastic about most things associated with the Universities of Notre Dame and Illinois, Millikin University, St. Teresa High School and the St. Louis Cardinals.
5. What are you most looking forward to in the second half of 2022?
I would like to see Team Nolan continue to deliver stellar outcomes for all of our clients, each and every time out.