Shareholder Advisory for Majority Owners

The purchase price is not the proceeds. Equity value is enterprise value less net debt, and what a shareholder receives after that depends on how much arrives as cash at close, how much rolls into the new entity, how much sits in an earnout and how much is lent back to the buyer as a seller note. Exit Boston advises majority shareholders through internal transfers, succession and recapitalizations by working that arithmetic first, then negotiating the structure. A $30 million offer with 30 percent at risk is not better than a $25 million offer in cash.

Business owners reviewing an ownership transition plan

Our Shareholder Advisory Services

Structured guidance for shareholders planning ownership changes, succession and internal transactions, built around proceeds, structure and post-close control.

Ownership Transitions

Advise majority shareholders through internal transfers: what the equity is worth after net debt, who can fund the purchase, how control passes, and how the consideration is split between cash, notes and retained equity.

Succession Planning

Build a succession plan on the question an investment committee actually asks, which is who runs this after close. That means named successors, real authority, a management cadence and incentives that survive the transfer.

Corporate Restructuring

Guide restructuring decisions with the capital stack in view: senior bank debt at roughly two to three times EBITDA, private credit above it, preferred and common equity, and the rollover that keeps a shareholder invested.

Structure Before Price

Two Offers, and One of Them Is Worse

Chapter 17 of The Real Exit sets out the comparison every shareholder eventually faces. Offer A: $25 million, all cash at closing. Offer B: $30 million, 70 percent cash, 20 percent rollover equity, 10 percent earnout. Offer B has the larger headline and $9 million of it depends on the buyer, the plan and the next three years. Which one is better is a real question with a real answer, and it turns on the credibility of that buyer and the reachability of those targets. Exit Boston works it out before exclusivity, not after.

Advisors discussing shareholder transition options
The Exit Boston Difference

Why Choose Exit Boston?

A seasoned advisory team for ownership decisions where the structure decides the outcome.

Transaction Experience

Our leadership has participated in 50 to 100 closed middle-market transactions across more than two decades.

Proceeds Modeling

We model equity value after net debt, then model what each structure actually pays you and when it pays you.

Financial Depth

CPA, CFO, valuation, modeling and diligence experience applied to shareholder arithmetic, not just to advice.

Counterparty Read

An earnout is only worth the buyer behind it. We qualify capital certainty and operating capability before you agree to be paid over time.

Meet the Exit Boston Team

Advisors for ownership decisions where structure decides the outcome.

Portrait of Rick McDonald, Founder and Managing Director of Exit Boston

Rick McDonald

Founder & Managing Director

Rick McDonald is the Founder and Managing Director of Exit Boston, a New England middle-market M&A advisory firm headquartered in Danvers, MA. With more than two decades of active deal advisory work, Rick has been directly involved in 50 to 100 closed middle-market transactions, guiding founders and private business owners through company sales, recapitalizations, and strategic transitions. His deep expertise spans business valuation, institutional buyer readiness, and deal structuring tailored to each founder's financial goals and legacy objectives. Beyond his advisory practice, Rick serves as an Adjunct Professor of Finance at Endicott College, reflecting his commitment to sharing knowledge across the financial community. His leadership has earned Exit Boston national recognition, including a top-ten ranking among U.S. M&A advisory firms by Axial.

Portrait of Sevan Demirdogen, Partner at Exit Boston

Sevan Demirdogen

Partner

Sevan Demirdogen is a Partner at Exit Boston, bringing over 40 years of executive leadership experience managing domestic and international businesses across multiple industries. His distinguished career includes serving as CEO and Board Member of Kano Laboratories, President and Executive Vice President of Scapa Group plc, and senior leadership roles at Illinois Tool Works. Sevan's deep operational background and boardroom experience provide Exit Boston's clients with invaluable insight into what institutional buyers look for in acquisition targets. His perspective helps founder-led businesses identify and address operational gaps, strengthen management structures, and position themselves for premium valuations. Sevan's global experience across North America and international markets makes him a trusted advisor for business owners navigating complex strategic transitions.

Portrait of Steve Vesey, Co-Founder of Exit Boston

Steve Vesey

Co-Founder

Steve Vesey is Co-Founder of Exit Boston and a seasoned CPA with over 40 years of accounting and financial advisory experience. He has dedicated more than 25 years to preparing business valuations and has assisted hundreds of business owners with succession planning and exit strategy development. Steve's deep expertise in business valuation and exit planning forms a critical foundation of Exit Boston's advisory approach, ensuring that every engagement is grounded in rigorous financial analysis and a clear understanding of value drivers. His ability to assess a business through the eyes of both an accountant and a strategic advisor helps founders understand their true market value and identify opportunities to maximize their outcome prior to a sale or transition.

Portrait of David Hockley, Partner at Exit Boston

David Hockley

Partner

David Hockley is a Partner at Exit Boston and a serial entrepreneur and operator with over 15 years of experience scaling high-growth businesses across Europe, North America, Asia, and the Middle East. Having personally driven more than $300 million in sales throughout his career, David brings a rare combination of entrepreneurial hustle and institutional discipline to every client engagement. He specializes in scaling founder-led businesses, preparing companies for strategic exits, and improving institutional buyer readiness. David's firsthand experience building and exiting businesses across diverse geographies gives him a unique ability to empathize with founders while providing the strategic clarity needed to attract competitive acquisition offers from private equity firms, strategic acquirers, and family offices.

Portrait of Mike Camarro, Business Development Officer at Exit Boston

Mike Camarro

Business Development Officer

Mike Camarro serves as Business Development Officer at Exit Boston, where he leverages a strong financial background to support client acquisition and advisory engagements. A former controller and CFO, Mike has extensive experience across retail, distribution, technology, and wealth management industries. He has led finance and accounting teams through the rigors of acquisition due diligence and post-acquisition integration, providing him with practical insight into what buyers scrutinize during a transaction. Mike began his career as an auditor at Coopers & Lybrand, building a disciplined financial foundation that informs his work with founder-led businesses today. His ability to bridge finance, operations, and business development makes him a valuable resource for founders preparing for institutional-quality exits.

Portrait of Laura, Senior Research Analyst at Exit Boston

Laura

Senior Research Analyst

Laura serves as Senior Research Analyst at Exit Boston, playing a vital behind-the-scenes role in every client engagement. She is responsible for delivering comprehensive middle-market industry analysis, competitive landscape mapping, buyer universe identification, precedent transaction research, and target buyer profiling. Her work ensures that Exit Boston's deal strategies are informed by current market intelligence and grounded in a thorough understanding of each client's industry and competitive position. By identifying and profiling the most qualified and motivated buyers for each transaction, Laura helps the firm create the competitive tension necessary to achieve premium acquisition outcomes for the founders it serves.

Portrait of Abbey, Chief of Staff and Administrative Director at Exit Boston

Abbey

Chief of Staff & Administrative Director

Abbey serves as Chief of Staff and Administrative Director at Exit Boston, where she is the organizational backbone of the firm's day-to-day operations. With two decades of experience across financial services administration, executive operations, and client engagement management, Abbey brings exceptional professionalism and attention to detail to every interaction. She coordinates client communications, manages engagement pipelines, oversees deal timelines, and ensures the seamless flow of document workflows and client deliverables throughout each transaction. Her deep experience in financial services environments means she understands the sensitivity and precision required in M&A engagements, making her a trusted point of contact for clients navigating complex and high-stakes business transitions.

Portrait of Thor, Director of Transaction Marketing and Investor Relations at Exit Boston

Thor

Director of Transaction Marketing & Investor Relations

Thor serves as Director of Transaction Marketing and Investor Relations at Exit Boston, where he leads the development and execution of the firm's confidential transaction marketing materials. His work includes crafting confidential information memoranda, executive teasers, investor presentations, and institutional transaction marketing campaigns tailored to the specific acquisition criteria of qualified buyers. Thor's expertise in presenting founder-led businesses in an institutional light is central to Exit Boston's ability to attract serious, competitive interest from private equity firms, strategic acquirers, and family offices. His materials are designed to communicate each company's investment thesis with clarity and precision, helping to create the competitive buyer tension that drives premium valuations for the firm's clients.

Portrait of Finn, Assistant Director of Financial Analysis at Exit Boston

Finn

Assistant Director of Financial Analysis

Finn serves as Assistant Director of Financial Analysis at Exit Boston, providing critical analytical support across the firm's deal advisory engagements. His responsibilities span financial management, cash operations, financial modeling, accounting, and deal advisory analysis, ensuring that each transaction is supported by rigorous and accurate financial work product. Finn's contributions are essential to the preparation of the detailed financial analyses that underpin Exit Boston's valuation work and buyer-facing materials. His attention to detail and commitment to financial precision help ensure that every engagement reflects the institutional-quality standards that the firm's clients expect and that serious buyers demand. Finn plays an important role in supporting the firm's mission of preparing founder-led businesses for premium acquisition outcomes.

Frequently Asked Questions

What are shareholder advisory services?

Shareholder advisory is strategic and financial guidance for owners facing a change in ownership: an internal transfer, a succession plan, a recapitalization or corporate restructuring. The useful part is rarely the strategy. It is the arithmetic. What is the equity worth once net debt is deducted from enterprise value, who can actually fund the purchase, and how is the consideration split between cash at close, retained equity, seller notes and contingent payments.

Who can benefit from shareholder advisory?

How does shareholder advisory support succession planning?

What is an internal ownership transition?

What should shareholders consider before restructuring ownership?

How is a business valued for a shareholder transaction?

Can shareholder advisory remain confidential?

How quickly can Exit Boston respond to an advisory inquiry?

What is rollover equity and should I take it?

Have Questions About Your Ownership Transition?

Speak confidentially with an advisor about proceeds, structure and timing.

Recognized M&A Leadership

Awards and Recognition

Axial Advisor 100 recognition logo

2026 Axial Advisor 100

Featured among leading U.S. M&A advisors.

Axial industry award recognition logo

2025 Axial Industry Award

Top food and beverage M&A firm.

Axial Top Advisor recognition logo

2024 Axial Top Advisor

Ranked #1 in Massachusetts, Q2 2024 Axial.

Start a Confidential Conversation

Share your ownership objectives, liquidity needs and timeline. An Exit Boston advisor responds within one business day.

Contact Us Today

For immediate assistance, feel free to give us a direct call at 617-EXIT-111 (617-394-8111). You can also send us a quick email at info@exit-boston.com.