They Got Acquired - It pays to get creative

August 13, 2024
​Read on web​

Sometimes finding the right buyer means getting creative.

As the founders of B2B media company Annex Business Media neared retirement, they attracted a few offers from buyers – but weren’t confident those buyers would continue the legacy they’d built or run the business effectively.

So they looked for another option, and it came in the form of an Employee-Management Partnership.

The company is based in Canada, which doesn’t offer an ESOP, or employee stock ownership plan. So they based it partly on the ESOP and partly on the employment ownership trust (EOT).

“Think of that as a modified ESOP,” said Scott Jamieson, who was COO before the acquisition and became CEO after the deal. “Combined you have an employee-management partnership (EMP) that is likely unique, at least in the world of media.”

Sound complex? It is.

We break it down in our story today:

​Determined to keep the company in good hands, this B2B media business sold to its management and employees​

💬 If you want to leave a comment about this story or ask questions, this LinkedIn post is the best place to do it.

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Behind the business (of TGA)

Last month my husband Ben and I hiked the Julian Alps to celebrate our 10-year anniversary.

Between the height gain, alpine exposure and via ferrata sections, it was the most challenging hiking I’ve ever done.

The hike got me thinking about my comfort zone, and how it can be tricky when you’re pushing yourself physically to know what’s too much.

It can be hard to pinpoint where things change from “this is hard” to “this is dangerous.”

As we were walking, Ben and I got to talking about how this is true for business, too.

You want to be optimistic about your capabilities, creating an environment when you can stretch and learn. But we all hit points where we wonder, is this too much? Is it time to quit?

And when you’re doing something that’s supposed to be hard — whether that’s climbing a mountain or building a business — it’s not always clear when things shift from challenging-in-a-good-way to it’s-time-to-call-it.

The good news is that if you’re willing to toe that line, the threshold can move. Something that would’ve been too much before is now within your newly defined comfort zone.

I noticed that on our way down from Triglav, the highest peak in Slovenia. Drops that previously would’ve made my stomach lurch felt like no big deal. By stretching myself, and getting as close as possible to that line, I’d grown.

Now I’m back home and facing new challenges with work. And asking myself, can I do this? Is this too hard? Do I need to take a different approach?

I don’t know exactly where my line is. But so far, I haven’t hit it. So far, I know the right choice is simply to keep moving forward.

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​
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