SealedBid’s Jerry Clark was a featured guest on Dynasty Leadership’s podcast. Todd Eberhardt, Founder of Dynasty Leadership, and Jerry discussed what owners really need to know to sell their business.
Since founding the company in 1993, Jerry, and the SealedBid team, have completed over 300 successful transactions across a wide variety of industries. The SealedBid team works closely with owners and deal teams to maximize value through succession and exit planning.
On the podcast, Jerry explains SealedBid’s Structured Transaction Process which details the marketing and negotiation phases of a transaction and how an owner can exit successfully. Additionally, Todd and Jerry discuss individual, financial and strategic buyers and the process of purchasing a company.
To listen to the Podcast, press play on the imbedded link below:
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Selling your business is something most owners do once. It could represent a lifetime’s worth of work, so why not get the most out of the opportunity? SealedBid can help maximize the value of your company when you are ready to sell!
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
Jerry Clark is a man of seeming contradictions – accomplished business professional and contributor, yet nearly a rock star! On the one hand, Jerry is the one to go to if you want to sell your business. He’s the founder and managing officer of SealedBid Marketing (“SealedBid”), a boutique M&A firm in Minneapolis that’s acquired a reputation for success in the lower mid-market. SealedBid celebrates its 25th anniversary in 2018, and that kind of longevity provides some insight into the man at the helm.
His colleagues and his clients will tell you that Jerry has a near-magical talent for closing successful M&A transactions. No one deal is the same and Jerry has a knack for:
Accomplishing the goals, often differing/conflicting, of each shareholder/stakeholder
Providing leadership and maximizing value throughout the transaction process
Completing transactions with added complexity (real estate, distressed assets, strategic/competitive opportunity, crucial IP, health events, etc.)
And the list goes on…
But Jerry is not just all about deals. He is also a contributor through his roles as past president of The Minnesota Golf Association, member of the International Business Brokers Association and M&A Source, past president of the Minnesota-Dakotas Certified Commercial Investment Member (CCIM) Chapter and many time speaker/panelist.
Jerry is definitely a left-brain kind of guy: analytical, methodical, logical.
The Epicureans (Jerry Clark in the middle)
But on the other hand…that career, that life, almost didn’t happen.
That’s because Jerry was also a guitar player in a rock band. He’s an artist, a musician, a flexible, creative, right-brain kind of guy. He’s one of the founding members of The Epicureans, a 60s rock band that has been inducted into the Minnesota Rock and Country Hall of Fame.
“We traveled throughout the Midwest,” Jerry recalls, “we played clubs and ballrooms back in those days, a lot of college bars, and then we recorded a song in 1966 that just about made it called ‘Baby Be Mine.’”
In the 60s and 70s, Jerry was on track to build a successful career in the entertainment industry. He managed many rock bands in the 60s and was a rock concert promoter and bar/ballroom owner in the 70s, rubbing shoulders with nationally-known bands like Dr. Hook, REO Speedwagon, Styx, Cheap Trick, Black Oak Arkansas and Starland Vocal Band to name a few. For five years, in the 70s, Jerry promoted the Southern Minnesota Rock Spectacular, an outdoor rock concert that drew up to 10,000 people.
For two decades, Jerry was playing, managing and promoting rock ‘n roll, and his lifestyle couldn’t have been farther from the world of business mergers and acquisitions. He tells the story of his teenage band arriving at a bar to play a gig, only to find that it had been taken over by Hell’s Angels. The stage was so tiny, the space was so tight, and the neck of his bass was so long, that he couldn’t stop poking a biker in the head with his guitar.
“We were jammed in there…and I kept accidentally bumping this guy,” Jerry explains, “this was a big guy with a spiked helmet, and I said, ‘Sorry man,’ and he said ‘Okay, okay.’ Then I did it again, and I said, ‘Sorry, man.’ And the third time, the guy said, ‘Don’t let that happen again.’ So we were playing with our guitars stuck next to our bodies and pointing straight up to the ceiling.”
He was once robbed by two men in ski masks, but turned the tables with a bold, spur-of-the-moment gambit. “In the 70s, I had to take the cash bag to the bank deposit box after the bar closed because there were no credit cards…it was all cash,” Jerry recalls.
“They showed that they had guns in their pockets…And I told them, ‘There’s no way I’m giving you this. I know your name, I know who you are!’ And I said one of the guy’s names, and they looked at each other, and they turned around and ran. It was probably one of the dumbest moves I ever made in my life,” he laughs, “but I did it.”
Jerry’s success as a rock promoter soon opened the door to a tempting offer that proved to be a turning point in his career.
“I had a chance to go national…to work in the entertainment world in Los Angeles. My wife (Betty of 50 years in 2017) and I talked about it, and we preferred not to move to L.A., so I made the entrance into selling small businesses.”
Jerry turned away from the world of rock n’ roll and entered the business world. But he brought a rich and varied life experience with him, and many skills that would prove invaluable to his new line of work: knowledge of contracts, a history of working with a wide variety of people, and most of all, experience negotiating.
“My father died when I was 15,” Jerry explains. “I was put in a survival mode at 15 because I had to fend for myself. It was…the school of hard knocks, learning how to run a business. I ran all the operational parts of the band, the bar, the concerts, you name it. I did the booking, the financing, the taxes, I did everything.
“I was negotiating from the time I was a teenager. Through my twenties, I was always in the process of negotiating, whether it was booking the band, getting the right price for the band, the longevity of the show they were going to play… I was a one-man business show.
“So I think the negotiation aspects early on, in all phases, whether it was how much you’re going to pay, what bands you’re going to get, working with contracts at an early age…kind of set the framework for when I started to work.”
Jerry says that his life experience of working with all kinds of different people helped him hone the listening skills that are so critical to successful negotiation. “From dealing with musicians, to people in the food and beverage industry, working with people on the other side of the bar, you might say, to working with the golf association, which is a totally different type of political environment…it’s definitely been advantageous to work through all of these different venues.
That why it’s…good in our business…to really be able to bend but not break in the process.”
When he entered the M&A world, Jerry learned the ropes by working as a broker. “Working with smaller, main street businesses, I did all kinds of hand holding and scrubbing to create successful transactions – – for 13, 14 years I had a lot of success doing brokerage for a variety of small businesses.”
“And then, after that…I took a contract for the government as a regional sales center director with the Resolution Trust Corporation. I was given a management role with a team of people overseeing multi-million and mega-million dollar transactions of varieties of types of businesses that were held by the failed savings and loans.”
Jerry honed another important skill while he was with the Resolution Trust: attention to a methodical and orderly transaction process.
“We used a structured transaction process, from pre-engagement to the whole gamut of it. We had…Gantt charts that would encompass the room. (If) we were going to do this multi-stage sale of assets, whether it was multi-family or single-family, or commercial, we’d have this Gantt chart flowing across this huge room, showing all the different phases of that transaction. So that was my big takeaway…the structured transaction process.”
Original SealedBid Logo
Jerry founded SealedBid Marketing in 1993 upon the dissolution of the Resolution Trust Corporation. He was at first focused on the sale of distressed companies, but he quickly embraced the economic boom of the ‘90s to add the sale of profitable companies to SealedBid’s services which is the company’s primary focus today along with providing buy-side services to both strategic and financial buyers.
His company and reputation quickly grew from a mostly non-Metro-based clientele to the current headquarters in Edina to service not only the Minneapolis/St. Paul area but clients all over Minnesota. The expansion eventually continued to include neighboring states in the upper Midwest, and occasionally clients across North America.
And what was once a company that consisted of Jerry and one assistant has grown into a small but skilled transaction team. The core team includes Vice President Blake Johnson, Senior Advisor Bill Clark (Jerry’s son), and Marketing Specialist Isabel Meza. But the full team totals about 10 people across various functions. The team concept is a crucial element for Jerry and plays to SealedBid’s overall transaction process and success.
Now, on the occasion of the 25th anniversary of SealedBid, Jerry reflects on the satisfaction of using all the skills gleaned from his unlikely career path to bring his client together with the best possible buyer for their company. “What I most enjoy doing, is getting our team together, figuring out an avenue that we have to move forward with our prospective client, getting that done in the most pragmatic way possible to accomplish their goals,” Jerry says.
“It’s really a good feeling, when you can get everything done with as much of a win-win situation as you can make it,” he adds. “It’s really a feeling of accomplishment, to get everything done in a fashion that meets their expectations. I like getting to the finality of it.
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
SealedBid had a great 2022 and below are some of the exciting highlights!
2022/2023 Holiday Charity
SealedBid made our annual Holiday donation to St. Jude Children’s Research Hospital. This is one of our favorite charities (and a past Holiday Charity Voting Campaign recipient!). Thank you, St. Jude Children’s Research Hospital, for all you do, we look forward to supporting you throughout 2023.
Catch the SBM team at the St. Jude Walk/Run event in the Twin Cities in September 2023!
2022 SealedBid Successful Transactions
For nearly 30 years, we have built a national network of strategic and financial acquirers, M&A advisors and transaction professionals. SealedBid’s longevity in the marketplace and core team of experienced advisors create success and maximize value for lower-middle market companies pursuing M&A. Below is a selection of 2022 closed transactions:
News & Events
Private Equity Roundtable: In early 2022, Jerry Clark was a participant in the Private Equity Roundtable “State of the Middle Market 2022” hosted by Fredrikson & Byron P.A. and GF Data.
CMMA Golf Social Sponsor: SealedBid was a Corporate Sponsor at the 2022 Central Minnesota Manufacturers Association (“CMMA“) Golf Social! This was the fourth year in a row that we were a Corporate Sponsor at this event.
Real Estate Summit: Jerry Clark and Blake Johnson attended the 24th annual Industrial and Economic Development Summit.
FFA Fundraising: This summer, Blake Johnson participated in the Minnesota Future Farmers of America (“FFA”) Foundation’s 19th annual golf tournament & fundraiser. FFA is the premier youth organization preparing members for leadership and careers in the science, business and technology of agriculture.
State of Manufacturing: SealedBid participated in the 2022 State of Manufacturing event which highlighted the manufacturing industry’s outlook and opinions on the economy and other issues impacting businesses. This event was hosted by Enterprise Minnesota.
Annual TMA Fundraiser: This fall, Jerry Clark attended the 20th Annual Wine Tasting/Fundraising event for Charity, hosted by TMA’s Minnesota Chapter.
ACE!! Congratulations Jerry: In 2022, Jerry Clark made a hole-in-one TWO times on two separate rounds within a MONTH of each other!! (we figured two aces deserved two exclamation points)
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
SealedBid had a very busy 2021 so we wanted to share some of the exciting highlights!
2021 SealedBid Successful Transactions
SealedBid has been the intermediary in over 250 successful transactions throughout the past 25+ years! We have experience with a variety of industries, including distribution, manufacturing, technology and service based companies. In 2021, SealedBid completed two Management Buyouts as well as two Sell-Side transactions!
SealedBid released TWO “Where are they now?” updates! We are excited about this new Case Study series that highlights our clients’ work and life post-transaction.
The first piece highlights Dan Charbonneau (of CBT Nuggets) who sold a majority interest of his company as part of a recapitalization. Read the full “Where are they now?” on Dan Charbonneau.
The second piece focuses on Jock Donaldson (previous owner of MyTana LLC) who completed a transaction with a strategic acquirer. Read the full “Where are they now?” on Jock Donaldson.
News & Events
Platinum Club Award: Our firm received the highest honors as it relates to M&A Advisory for combined enterprise value in 2020 and we continued that momentum in 2021!
Congratulations Isabel! SealedBid team member, Isabel Meza and her husband welcomed the birth of their daughter this past summer.
Congratulations Jerry! Our resident rock and roller was inducted alongside his bandmates from The Epicureans into the Iowa Rock ‘n Roll Music Association Hall of Fame!
Current SealedBid Opportunities
Company B2692: Environmental Solutions Company (Coming Soon)
Company B2651: Branded Mobile Technology Company (See the full B2651 Profile)
Company B2640: Healthcare Service Company (See the full B2640 Profile)
Company B2630: Industrial E-Commerce Retailer (Under LOI)
2021/2022 Holiday Charity
SealedBid made our annual Holiday donation to St. Jude Children’s Research Hospital. This is one of our favorite charities (and a past Holiday Charity Voting Campaign recipient!). Thank you, St. Jude Children’s Research Hospital, for all you do, we look forward to supporting you throughout 2022.
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
For twenty five years, Minneapolis-based SealedBid Marketing (“SealedBid”) has negotiated successful merger and acquisition transactions for its clients. Since its founding, SealedBid has built a strong reputation in the upper Midwest and beyond as the “go-to” M&A firm for the lower mid-market which is defined as privately held companies with revenues between two million and fifty million dollars. The SealedBid transaction team has over 50 years of experience providing financial, marketing and advisory services for clients pursuing a sale or growth through acquisition.
SealedBid built its reputation as a boutique firm through:
Outstanding client service
Expert advice
An orderly and methodical transaction process
Consistently excellent results
SealedBid offers its clients diligent research and discreet marketing paired with hands-on, senior-level attention and the full spectrum of its transaction team’s combined expertise. The business practice of focusing on a limited number of engagements at any one point, ensures clients have a dedicated claim on its most valuable resource – time.
SealedBid was founded in 1993 by Gerald Clark―“Jerry” to everyone who knows him. As SealedBid’s Founder and Managing Officer, Jerry leads the transaction team, and is involved in every phase of the transaction process. His 30-plus years of M&A experience allow SealedBid to offer its clients an organized, pragmatic and ultimately successful sales experience. Jerry is an expert M&A negotiator, praised by both buyers and sellers for his integrity, his willingness to listen, his disciplined approach to process and his ability to negotiate a win-win scenario even in the most challenging transactions.
Before founding SealedBid 25+ years ago, Jerry was Director of Sales in Minneapolis, Cleveland and Washington, D.C. for the Resolution Trust Corporation, and his successful management of the marketing and sale of two billion dollars in assets helped give him the knowledge and experience that would be the foundation of SealedBid’s success.
When Jerry founded SealedBid, his recent experience at the Resolution Trust made the marketing and sale of distressed companies SealedBid’s early focus. But as the economy shifted from the recession of the late ‘80s, to the boom of the ‘90s, Jerry embraced the opportunity and quickly added the sale of profitable companies to SealedBid’s services, which is the primary focus today.
It was the first incremental expansion of many for SealedBid. Jerry explains that at first, SealedBid was a small company―just himself and one office assistant―and he was helping sell companies to small buyers. “We were dealing with individuals, financial buyers and strategic buyers looking at the companies we were marketing for sale.”
The SealedBid Team (Jerry Clark on far right)
But as time passed, the word started to get out that this M&A company stayed fully involved with the sales process and engaged with clients throughout every phase of the project, working along-side attorneys and CPAs right through final negotiations to a successful conclusion. Jerry states, “Our reputation was starting to become quite good as far as taking a deal…from pre-transaction to closing with the sellers.”
As word of SealedBid’s expertise and successful results spread, demand for its services grew, and the company expanded the geographical reach. “We started out…in the Minnesota market, then in southern Minnesota and northern Iowa, and continued to expand,” Jerry says.
SealedBid also expanded in terms of the types of companies that it engaged. “We sold a plastics company, and…it kind of put us on the map…then we…did another larger…plastics company, and it just opened a lot of networking opportunities in that manufacturing world, with both buyers and sellers,” Jerry explains.
Now, SealedBid’s clients include companies in various industries, not just in the upper Midwest, but across North America. To maintain the company focus over the last decade, Jerry has worked hard to build a strong transaction team to help meet clients’ needs. Today’s core team includes Vice President Blake Johnson, Senior Advisor Bill Clark, Financial Analyst Larry Lundgren and Marketing Specialist Isabel Meza with the full team totaling about 10 people across various functions. The team concept is a crucial element for Jerry and plays to SealedBid’s overall transaction process and success.
Jerry explains, “Over the last several years, our strong team presence…has really given us a reputation in the market as the firm to go to when marketing a company in the lower mid-market. We strive to provide the same level of expertise, the same process and the same ability to maximize value for clients that don’t attract the big investment banks’ attention. The crew of Blake, Bill and Isabel have really developed a seamless marketing process for the sell-side and the buy-side that accomplishes this well.”
On the occasion of SealedBid’s 25th anniversary, Bill says, “Consistency is our biggest success. Consistency is…many different things. It’s…Jerry Clark, as the team captain with teamwork being the cornerstone of what SealedBid is. It’s the consistency of our process, and the overall success we have brought to our clients for 25+ years.”
Blake adds, “The respect we’ve earned from our peers and transaction professionals throughout the industry speaks volumes to our reputation and quality service.”
As SealedBid celebrates 25 successful years, its founder reiterates his company’s essential philosophy.
“We’re a boutique M&A firm that knows its strengths and enjoys the market niche we serve. Working with clients to make a transaction successful, typically the largest financial event of their lives, is extremely enjoyable and we’re proud to say we build lasting friendships throughout the process,” Jerry concludes. “We’re a boutique firm. We want to keep…our personalized touch.”
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
SealedBid had an exciting, milestone year in 2018 so we thought it made sense to create a page to highlight the activity!
Historically, our M&A Spotlights have tended to be educational in nature but since 2018 was such a big year for us, we decided to shift the focus a bit – please take a look:
The first M&A Spotlight was released in April. This was the “Special Founder’s Spotlight: The Guy Who Ties the Knot” which highlighed the founder and managing officer of SealedBid, Jerry Clark. You will learn about Jerry’s career history, and how it led to the creation of SealedBid.
The second M&A Spotlight was released in October and focused on the history of SealedBid as a Company. The Spotlight “Sealedbid M&A Spotlight: 25 Year Anniversary” discusses SealedBid’s formation and how the Company has grown/transformed throughout these past 25+ years.
What is a milestone year without a milestone event…so once again, a big “THANK YOU” to everyone that attended or acknowledged SealedBid’s 25 year anniversary celebration in November! Despite the not so great weather, we hope you had as great of a time as we did. Below are a few photos that we wanted to share from the event:
Recent SealedBid Successes:
SealedBid has been the intermediary in over 250 successful transactions throughout the past 25+ years! We have experience with a variety of industries including distribution, manufacturing, technology and service based companies. Below are some of our recent successful transactions:
2018/2019 Holiday Charity:
Instead of having our typical Holiday Charity Voting Campaign, SealedBid has decided to choose the organization that will receive our 2018 Holiday donation and our support throughout 2019. SealedBid has chosen to give a donation to one of our favorite charities (and a past Holiday Charity Voting Campaign recipient!), St. Jude Children’s Research Hospital! Thank you St. Jude Children’s Research Hospital, for all you do, we look forward to supporting you throughout 2019.
If you are interested in learning more about SealedBid, our services or our team, please do not hesitate to contact us at (952) 893-0232. SealedBid will work closely with you, your financial advisor, attorney, accountant and banker from the initial stages of pre-marketing through closing and post-closing.
But Jerry is not just all about deals. He is also a contributor through his roles as past president of The Minnesota Golf Association, member of the International Business Brokers Association and M&A Source, past president of the Minnesota-Dakotas Certified Commercial Investment Member (CCIM) Chapter and many time speaker/panelist.
Now, on the occasion of the 25th anniversary of SealedBid, Jerry reflects on the satisfaction of using all the skills gleaned from his unlikely career path to bring his client together with the best possible buyer for their company. “What I most enjoy doing, is getting our team together, figuring out an avenue that we have to move forward with our prospective client, getting that done in the most pragmatic way possible to accomplish their goals,” Jerry says.
