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Selling a Business

A Successful Business Transition Closes with Maximum Value and Integrity

CHALLENGE: One of our long-term clients decided to sell their business. They had worked very hard to build a successful business and had cultivated close relationships with employees, customers and vendors. It was important to our client not only to receive maximum value for their business, but also to maintain the integrity of their relationships.

SOLUTION: With their objectives in mind and to fulfill the roles as broker, consultant, and business advisor, our first step was to develop and customize a plan and process that would meet the client’s approval. From there, before discussions took place with any prospective buyers, we prepared a detailed valuation of the company and various financial analyses to help support our position in negotiations. Anticipating buyer’s requests, we also provided additional information. Once prepared, we contacted target prospects and initiated discussions. Our role was to facilitate the process and allow our client to continue to run and maintain their normal business operations. We fielded all communication from prospective buyers and helped coordinate the recommended responses accordingly. It was imperative that we kept our client well informed and made sure they attended all critical meetings and discussions. Once an agreement was reached on the general terms and conditions, we helped coordinate the due diligence process and assisted in the resolution of various issues that arose during the drafting of the purchase agreement as well as offered definitive documents. Often, the process doesn’t end at closing — even for the seller. In anticipation of this, we made sure to stay involved and help address certain post-closing matters.

RESULT: For business owners, the transition of ownership is a very important time, and often a very emotional one. Once a deal was completed, our primary objective was to make sure our client felt good about all significant factors. In this case, we feel strongly that our client received more value than initially anticipated. We did so in a timely manner without interruptions to normal operations and ensured through a strategic sales process that the business was left in good hands.