It’s your deal. We are here to help.
Many firms, from large investment banks to small business brokers, will tout how well they sell companies. We believe it is the entrepreneurs and management teams, as well as the compelling attributes of great companies and the respective markets they serve, that ultimately “sell” the business.
Our job as advisors is to design and execute the sale process, identify and engage with strong potential buyers, and guide you through each step of the journey, at all times ensuring we are building towards the best available outcome while also protecting you and your company in the process. We lead the preparations and overall execution but you should expect you and your team to be fully involved in the process in order to maximize the outcome of all terms, including valuation.
Considering the Sale of Your Business?
We love meeting with business owners and/or their family, legal, accounting or other trusted advisors to discuss their situations and potential objectives in transitioning ownership of their business. In learning about your company and your objectives, we can discuss potential approaches for a path forward and whether we might be a match for each other, or whether we have other suggestions perhaps better suited for your situation.
Importantly, and not surprisingly, it is never too soon to be thinking about the future transition of your business. Advanced preparations and planning can have an important impact on value or other important elements of a future transaction.
So, please don’t wait to be in touch – we are patient and are more than happy to start a conversation that can quite often run for years before you and we agree it ultimately makes sense to formally initiate a sale process. Let’s connect.
About the Sales Process
Every situation is different and we believe strongly that you deserve a sale process specifically designed to optimize the outcome from your specific situation. Having said that, here we can talk generically about the steps to explore a sale of your business. Be assured the first step is to carefully consider the range of alternatives – there is no cookie cutter process, and the specifics of your company, industry, timing and transaction objectives are weighed with consideration of market conditions and buyer realities.
Some logical steps and timeframes you might consider:
Preparations Phase
Commonly 1-2 months, depending on the existing level of “preparedness” of your company.
In this initial phase of the process, we’ll do a deep-dive to learn your business and industry. We will do market research, understand your financial profile and key drivers and consider along with you and your team the most favourable positioning for your company in a sale process. We’ll thoroughly evaluate your business’s readiness to sell, propose any suggestions if necessary in anticipation of any concerns, and then create a strategic plan to initiate and execute a market-driven sale process.
Our team will work with you to prepare marketing materials to be used throughout the process, including organizing the company for intensive due diligence expected to happen later in the process.
This in-depth preparation process provides a firm foundation for the next phases of the transaction.
Marketing and Due Diligence
Say 2–3 months, depending on the breadth and nature of the buyer audience.
During this phase of the process, we will expose your business under NDA with the best possible potential buyers – the particulars of your company and industry will drive just how broad or targeted the reach out is. We will solicit initial interest and then work to narrow down to a curated group of the strongest potential buyers to progress their assessment of the opportunity. We then facilitate a comprehensive due diligence program enabling selected buyers to evaluate the financial and operational aspects of your company in a confidential manner.
Throughout the marketing phase, we strive to create healthy competition to drive strong value as well as comfort and certainty when narrowing down to a selected buyer. Our job is to help you present the opportunity, receive the best possible options, help you review proposals, and ultimately facilitate a discussion with one group on the best possible deal terms. Very often, and in the best cases, all significant business terms are negotiated and agreed before entering into exclusivity with one buyer.
Closing
Once you have chosen the preferred suitor, we work closely with you and your other advisors to close a transaction. This stage includes confirmatory due diligence, final negotiations of various definitive documents, and supporting the buyer in a variety of matters necessary to complete the deal, including lender approval as one example. At this stage it is very important key issues get resolved, and careful attention is required to keep things on track.