How to prep a family biz for sale to private equity

"We do a lot of representation of family businesses," says Warren Feder of Carl Marks Advisors , in this video shot at ACG Philadelphia's M&A East conference. "So my challenge is always dealing with the family, and dealing with really unsophisticated sellers in the lower middle market, and helping them understand what it means to sell to a private equity fund and what's required to do that."