In this episode of “Show Me The Way,” Dave sits down with Quentin McArthur, President of McQueeny Group, to discuss his process of moving from an employee to owner of a business, to later merging that business. They reflect on the good and bad, and give advice for others looking to grow a business through mergers.

Dave asks Quentin to discuss his background, and how he ended up where he is now.

• Quentin begins talking about how he ended up graduating from K-State, and how he fell into his career path. 

Dave sorts through Quentin’s history of moving from an employee, to owner of that one business, to then owner of a larger business entity, and asks about that newest company.

• Quentin says they merged with Innovative Technical Solutions (ITS), and their sister company One Power, which operate in the same market space

Dave says that to grow a business you either do so by buying assets of a business, stocks, or through mergers, and asks Quentin why he chose merger rather than another path.

• Quentin says that while he sees the end of his career in the not-so-distant future, he wanted to leave the company in a better place.

Dave asks how long the process took from beginning to end.

• Quentin notes that while they were informally talking about it for 3-4 months, once they agreed to go ahead, it was about 6 more months.

Dave asks how purchasing the McQueeny Group from its prior owners compares and contrasts with this merger process.

• Quentin reflects back on his process of purchasing the business and said the most difficult part was that they had never done anything like that before.

Dave flips around the thinking and asks what some of the positives have been from the merger.

• Quentin notes that they have recognized a lot of synergies working together, and the benefits of working with similar industries has helped.

Dave asks Quentin how he felt and dealt with the “deal fatigue” that is common during these types of processes, and what advice he has for others who might be experiencing the same.

• Quentin explains his process getting through the thoughts of wishing each day was the last day of the merger process.

Dave focuses on the future and asks Quentin his views on the future of the business.

• He discusses the future growth of the business through geographical additions.

Dave asks what advice he has for others who might be looking to grow a business through merger or acquisition.

• Quentin’s advice is to ask yourself why you are running the business, whether that is to grow your personal wealth, or if the organization comes first.

To reach out to Quentin McArthur, go out to their website: https://www.mcqueenygroup.com/

To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected] 

Disclosure

This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.