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Selling a business you’ve spent decades building is never easy, but having the right legal team in place makes a stressful time much easier to navigate.

CMM’s M&A team recently represented a client who had devoted nearly 40 years to its business of selling building cleaning supplies and sanitation products. To close the multimillion-dollar stock deal, we guided our client through a complex F-reorganization under the Internal Revenue Code. For companies in New York, this process, in short, involves forming additional companies and merging the existing corporation into a newly created LLC prior to closing.

Vincent J. Costa led the CMM team, which also included Zachary Mike and paralegal Cailey McByrne. Vinny and Zach skillfully managed the client’s concerns and deftly handled the major NYC firm representing the buyer. Cailey kept the deal on track and made all necessary filings with the Department of State, all while keeping the dozens of versions of transaction documents well organized and the open issues in the forefront. Our client was very happy with the outcome of the sale to the buyer, a specialized distributor with operations throughout the United States.

CMM has the experience to handle the most complex M&A transactions. Contact us today.

Joe Campolo delivered these remarks for HIA-LI’s 26th Annual Business Achievement Awards virtual ceremony on September 29, 2020.

Good morning everyone. My name is Joe Campolo and I proudly serve as Chairman of the Board of Directors of HIA-LI. Now more than ever, I am thrilled to join you in celebrating the best and the brightest on Long Island. Almost 10 years ago, CMM learned that we were the recipients of the Rookie of the Year Award, and to this day, especially when faced with the nonstop challenges of 2020, that remains a proud moment for us and a source of inspiration to keep fighting no matter how difficult the circumstances. So to all of the finalists and recipients, I extend my most heartfelt congratulations.

This year has tested us, and continues to do so. Fortunately, I believe that leaders aren’t born – they are made by the times they exist in and how they rise to the occasion.

The richness of Long Island lies not only in our real estate and our school districts, but in our innovative businesses, restaurants, and hospitality. I have spent my entire career helping to build Long Island – and I am not willing to sit back and watch these businesses be destroyed without a fight. How do we do it? By being leaders.

Leading through this pandemic requires both an acceptance of reality and being adaptable to our ever-changing circumstances.

This March, like many of you, our team headed home with stacks of folders, remote login instructions, and no clue that our world had changed forever.

Personally, I felt like I had been hit in the head with a bat, and I wasn’t alone. The next few days were filled with panicked calls from clients and friends who simply had no idea what the future held, and how their businesses could survive. Within a few days, most people were either overtaken by panic (not sure what to do, so doing nothing), or in total denial (refusing to accept reality).

I was trained in the U.S. Marine Corps that no one is coming to help me. So I did the only thing that made sense to me: worked with my team to help cut through that static, and take action.

Among other things, that first week, we set up a coronavirus relief hotline open to all members of the business community, whether or not they were existing CMM clients, where we provided free advice to critical questions businesses were asking about their very survival. I know that this work helped many businesses stay open when they otherwise wouldn’t have.

We don’t know where this next chapter leads us, but we can all control our responses. We must be patient and focused, yet optimistic and zealous.

We must continue to endure the most stressful conditions we will likely face in our lifetimes. We must look at a macro level, accept, and adapt. We must help others along the way. We must find new ways to bring value to our new reality.