Going through the merger or acquisition process can be a challenging experience for any apparel decorating shop owner. There are financial, legal, HR, and many other considerations that must be evaluated, not to mention things like inventory discussions, succession plans, employment realignment, and many other things.

Recently, Night Owls, based in Texas, and Thrive, based in Arizona, merged under one roof. Apparelist Content Director Cassie Green sat down with Eric and Val Solomon, owners of Night Owls, and Robert Fisher, CFO of Fisher Family Holdings (Thrive), to discuss what the experience was like.

Key Takeaways

• Find and connect with experts, such as accountants and lawyers, to help facilitate the merger/acquisition
• Both parties should do due diligence to ensure that the transaction makes sense from every aspect
• Know what’s right for your business — ask yourself the hard questions about future planning, goals, and what’s best for yourself and your employees
• Know what skills you bring to the table and what gaps you hope to fill