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What every agency founder should know about M&A
In Ad Age’s Small Agency Playbook series, CourtAvenue Co-Founder Kenny Tomlin shares what he’s learned about M&A from both sides of the table, from selling Rockfish to WPP in 2011 to leading multiple acquisitions at CourtAvenue. His advice for founders weighing a term sheet: protect your optionality through cash flow, growth, and trust; vet the buyer as closely as they vet you; and know when to walk away.