Legacy vs. Liquidity: The True Cost of Selling

When “Too Good to Be True” Actually Is: Why One Family Business Walked Away from a Buyout

Navigating the world of business acquisitions is rarely straightforward, especially for family-owned businesses built on legacy and relationships. In our latest podcast episode, we unpack the real-life story of Bug Off Pest Control, a family-run business that received an unexpected acquisition offer—and ultimately chose to walk away.

A Family Business Built on Trust

For 13 years, siblings Amber and Corey Finley have operated Bug Off Pest Control in Arizona’s East Valley. Their business wasn’t just about pest control—it was about community. They remembered clients’ birthdays, greeted pets by name, and prioritized sending the same technicians to each visit.

This deeply personal approach built a loyal customer base and reflected the heart of what makes family businesses special—something that can’t be easily replicated by larger, corporate competitors.

The Offer That Sparked Big Questions

It all started with a letter: a private equity firm expressed interest in buying Bug Off. The offer appeared solid on paper. The firm was attracted to their strong client base, city contracts, and well-established territory.

Amber and Corey were presented with two options: take a generous payout and exit the business, or stay on under guaranteed employment with set salaries. Either way, it seemed like a promising deal.

Red Flags Start to Surface

But as the conversations progressed, things started to feel off. The buyers wanted full access to customer lists, detailed financials, and operational data—yet offered no earnest money, no safeguards, and no meaningful commitment in return. The contract terms allowed the firm to walk away at any stage, leaving the Finleys exposed.

Amber put it plainly: “We were being asked to hand over the keys to our house with no guarantee they’d even move in.”

Choosing Legacy Over a Payout

Rather than rushing into a deal that didn’t sit right, the family held a vote. Amber, Corey, their father (a co-founder), and Corey’s wife (who manages scheduling) all had a say—and the decision was unanimous: walk away.

Yes, the money was tempting. But the cost—potential exploitation of their client base and giving up control of their legacy—was too high. As Amber reflected, “Sometimes when things seem too good to be true, they are.”

What They Gained by Saying “No”

The process, while frustrating, brought clarity. The Finleys now have a sharper vision for their business’s future, including expansion into new markets and growing their technician team. They also walked away with benchmarks for what a fair, well-structured offer might look like down the road.

Most importantly, they reaffirmed their commitment to the values that built their business in the first place—personal service, trust, and ownership.

Advice for Other Founders

For anyone who gets an unexpected offer in their inbox, the Finleys’ story is a valuable cautionary tale. Here’s what they’d recommend:

• Don’t get swept up in the numbers. Excitement can cloud judgment—pause and assess.

• Protect your data. Never give away sensitive business information without legal safeguards in place.

• Consult legal and financial experts early. The right advice can reveal risks you might miss.

• Know your “why.” A great offer on paper means little if it doesn't align with your goals or values.

• Saying “no” can be powerful. Sometimes it’s the clearest sign that you know your business’s true worth.