Taylor Thompson can attest to that. He nearly sold his company on his own, but in the end he chose to use Sperry's investment banking firm. Lawyers, accountants, and trade associations are places to go for referrals. Pick the buyer you like the best. The sellers of a public company have a fiduciary responsibility to sell to the highest bidder.
Family companies have no such constraint.
It wouldn't have been fair to the staff. He felt Koda would give him autonomy and let him keep the staff intact. Marc Schecter had a choice of buyers when he decided to sell Advance Watch Group. The money allowed Schecter and his brother to cash out the rest of the family. For now, at least.