Case Study: “Getting Divorced. What’s Our Transportation Business Worth?”
Business owners seek business valuations for many reasons. One of the most common reasons is for settling a divorce. The following case study offers a look into a reality over 50% of transportation business owners face at some point in their career.
Recently, two owners of a transportation business reached out to Charles Tenney & Associates to help them address a serious problem. The operating owner and his spouse were in the process of trying to reach a divorce settlement but were miles apart on the value of their respective shares of the business they co-owned. The operating owner was using a valuation formula he had heard about from an industry colleague. The spouse’s valuation source was her personal accountant of many years.
As the operating owner attempted to bridge the gap with his spouse, the tension only escalated along each of their attorney fees. At some point in the process, the owner and spouse remembered attending a seminar together on the topic of buying and selling transportation companies a few years back. They remembered that Charles Tenney & Associates led the discussion and agreed that seeking out a third party industry expert was probably the only way they could both be satisfied in resolving what was becoming a very stressful and expensive dispute.
Charles Tenney & Associates accepted the assignment, produced the results of the valuation within 10 business days, and helped the owners quickly and civilly settle the dispute that had dragged on for the previous18 months.
Establishing the value of a transportation business is often only one of many disputes that accompany the process of settling a divorce. The lesson to be learned here is that Charles Tenney & Associates, a transportation industry expert, is uniquely equipped and commonly relied on to help resolve this specific issue. The owners in this case study found the resolution they were looking for but not before exhausting thousands in attorney fees and straining an already damaged relationship. Don’t make what is already a very emotional and financially taxing process harder than it has to be.
If you and your spouse are in the process of addressing a similar matter, please submit the contact form below to speak to an industry specialist.
