Baby boomers are a unique generation. As a group they currently own more than 65% of businesses with employees, businesses they are ready or getting ready to sell. And as a group, they are just as concerned with the intentions of their buyer as they are with the offer.
Why We're Here
OneAccord Capital applies stewardship, experience and long-term vision to buy and grow private companies owned by baby boomers in the Pacific Northwest. Closing on our first acquisition, Graphic Label, Inc., in August was a major milestone. In many ways, GLi represents the very reasons we founded OneAccord Capital.
Lyle and Shelley Von Essen, baby boomers, are enterprising, ambitious business owners. They bought GLi in 1993 and developed it into the successful company it is today. The impact GLi has had on the Von Essen’s hometown of Yakima is exponential. It provides jobs for locals, business for vendors and contributes to the civic health of Yakima.
When the time came for the Von Essens to sell, they were concerned about far more than how much they could get out of the deal. They had a legacy to protect. Like many of their counterparts, they wanted their business to continue thriving so they could do right by their employees and customers and keep their commitments to the community. With so many boomers selling their businesses, the enormous challenge was attracting the right buyer.
Filling the Gap
Traditional equity, on the whole, isn’t interested. Small, privately-owned companies in blue collar industries simply don’t attract the offers like technology startups and huge enterprises. If a business like GLi does attract a buyer, that buyer is often interested in one thing: flipping. That often means restructuring the business, growing it aggressively and selling it within 2-5 years for a tidy profit without any thought for legacy, community impact, civic responsibility—basically everything people like the Von Essens value most.
This means there’s a gap in the market: lots of legacies for sale and few buyers. Part of OneAccord Capital's mission is to address that gap. As a firm, we take the time to build our relationship with a seller, earning and establishing their trust. As they get to know us, they see how serious we are about stewardship and our values. They also see our operational know-how and commitment to persevere and invest over the long term so their business keeps thriving.
OneAccord Capital acquired Graphic Label, Inc., in July. Since then we’ve been working hard to chart a course for the company’s next decade, because when OAC buys a business it does so with a minimal 10-year commitment. For the next 10 years, we’ll grow GLi, continuing to employ the people already there, hiring more locals, carrying out the Von Essens’ commitments to the Yakima community and working diligently to preserve their legacy.
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