The Chronicle Herald is reporting that Don Mills has sold Corporate Research Associates (CRA) to three members of his management team.
Halifax-based CRA is well known in the market research sector and has offices throughout Atlantic as well as Ottawa and Bermuda.
This is another example of a management buyout (MBO), where existing management acquire the business they work for. Many entrepreneurs are surprised to know that MBOs are a viable succession/exit alternative and that’s because of the prevalence of capital in the marketplace to fund such acquisitions. Every financial institution likes to fund MBOs and there are also plenty of private equity funds interested in backing management teams.