We have developed a tried and tested 7 step process to ensure our clients maximise the value achieved on the sale of their business. In summary:
Step 1: Prepare your business for sale
We will review your business, identifying the key areas of growth, maintainable earnings, intellectual property rights and proven areas for expansion, which will be key aspects of interest to buyers. We will also review external factors such as market conditions and assess the right timing for the sale of your business to particular buyers. If appropriate, we will recommend a value building programme before commencing the sale process.
Step 2: Recommend the best sale process
We will advise you on the best way to achieve your desired outcome, considering whether it would be best to negotiate with a single purchaser, manage a private sale, run a controlled auction or orchestrate a full public auction of the business. Each has advantages, including in terms of achieving competitive tension and maintaining confidentiality.
Step 3: Prepare the sales documentation
We will help prepare the principal selling documents comprising some or all of a short summary, an information memorandum, a vendor due diligence pack and a data-room. These will highlight the key selling messages about your business that create value in the eyes of buyers, as well as identifying excess costs, surplus assets and revenue, margin and other synergy opportunities. We will focus not just on your standalone profits but what the best buyer can do with those profits when combined with their business.
Step 4: Market the opportunity and select the buyer
Access to the widest possible pool of prospective buyers is generally crucial to achieving maximum value. Drawing on Corbett Keeling’s sector expertise, our access to financial buyers, our international network of corporate finance partners at Globalscope and our proprietary and other databases, we will select and approach the most appropriate buyers. With your lawyers, we will agree confidentiality terms and then handle communication with them.
Step 5 : Negotiate the sale
We will advise you on evaluating the offers you receive for the business and negotiate with each of the offerors to ensure you receive the best possible terms on its sale. If the business has a number of different shareholders, we will manage discussions on behalf of each of them.
Step 6 : Manage the entire process
We will manage the sale process throughout, coordinating all the lawyers, accountants and due diligence specialists together with tax, pensions and other advisers.
Step 7: Completion
Transactions can be like riding in the Grand National. Every time you jump one fence, another presents itself. We will lead all parties over the various hurdles to completion, normally in a timetable of a minimum of 3 and a maximum of 12 months.