We advise on transactions
that help define a company
What we do
Sales & Divestitures
Selling the business you built
Most owners sell a company once. The buyers across the table do it for a living. We run a controlled, competitive process so that competition, not a single buyer's patience, sets the price.
The transactions that go well are the ones that were prepared properly. We front-load the work that most affects outcome: positioning the business against the metrics buyers reward, validating value from several directions before anyone goes to market, and building a curated buyer list rather than a broadcast.
Acquisition Advisory
Growth by acquisition
Buying well is harder than buying. We help clients define the thesis, find targets that fit it, value them on a defensible basis, and negotiate the terms.
Financings
Raise capital without selling
Not every objective requires a sale. A new plant, an acquisition, liquidity for a departing shareholder: the right structure solves these while you keep control.
Valuations
What your business is worth
A valuation is useful in direct proportion to how honestly it is built. We triangulate public comparables, precedent transactions, and the cash flows themselves.
In our clients’ words
We needed an advisor that would keep the deal moving while they looked out for our interests. Tully & Holland did a great job for us. We interviewed several banks and Tully & Holland was the best fit. They knew our industry, and had experience with the buyers.
President & CEO, CuddledownOver the years, we've worked on two acquisitions and the sale of two businesses. Tully & Holland was on top of the process from the beginning to the end and supplied great advice and counsel as we pursued these projects.
President & CEO, Cains FoodsThroughout our relationship, Tully & Holland provided expert M&A guidance as well as strategic advice and market intelligence. Together we closed four deals, propelling our company forward in a new direction. We consider Tully & Holland part of our team and will continue to seek their help in the future.
President, S&S WorldwideTully & Holland was a solid partner in the process of selling our business. They provided industry expertise, dogged determination, skillful negotiating and integrity beyond reproach.
Chief Executive Officer, Phelps IndustriesQuestions owners ask
What does Tully & Holland do?
Tully & Holland is a Boston investment bank, founded in 1992, that advises founders, families and management teams of consumer and healthcare companies on sales and divestitures, acquisitions, financings and valuations.
How long does it take to sell a company?
A Tully & Holland sale process runs in five phases, from preparing the company through final negotiations and closing, and typically takes 22 to 32 weeks in total. The transactions that go well are the ones that were prepared properly, so the work that most affects the outcome is deliberately front-loaded.
What kinds of companies do you advise?
Consumer and healthcare businesses, across six areas of focus: food and beverage, direct-to-consumer, consumer discretionary, consumer health and diagnostics, wellness and beauty, and pet care. Clients are typically founders, families and management teams, many of them approaching a transaction for the first and only time.
Do you advise buyers as well as sellers?
Yes. On the buy side we help clients define the acquisition thesis, find targets that fit it, value them on a defensible basis, and negotiate the terms.
How do you value a business?
We triangulate three independent views: public company comparables, precedent transactions, and the cash flows themselves. A valuation is useful in direct proportion to how honestly it is built, and we validate value from several directions before a company goes to market.
Can I raise capital without selling the company?
Often, yes. A new plant, an acquisition, or liquidity for a departing shareholder can usually be solved with equity growth capital, senior debt, bridge financing or mezzanine financing, while you keep control of the business.
Who at the firm will actually work on my transaction?
The senior team you hire. Our senior management is involved in all phases of the transaction process, and there is no handoff from the people who win an engagement to a junior team that executes it. Our bankers have held senior operating roles at companies including H.J. Heinz, RJR Nabisco, Ocean Spray, Gorton's, Kraft, Diageo, Thermo Fisher Scientific, P&G and Bristol Myers Squibb.
Is Tully & Holland a registered broker-dealer?
Yes. Tully & Holland, Inc. is a member of FINRA and SIPC. The firm's record is public on FINRA BrokerCheck.