Selling Your Company
Selling your company is a big step and the decision to sell is very difficult. Is it the right time for you personally and for getting the best market price? Is the company itself ready for a sale or does it require grooming or additional management?
There are many strategic and tactical points to consider and we can help you through the entire selling process. We will handle key issues such as preparation for disposal, confidentiality, marketing of the business and negotiation. In brief, the process would include the following -
- Ensuring the business is in the best state for sale e.g.
- housekeeping
- profit maximisation
- Preparing an Initial sale letter (keeping it anonymous if required)
- Marketing the company
- Receiving ‘interested in principle’ approaches and issuing Confidentiality letters
- Preparing the Information Memorandum and Financial Forecasts
- Managing you through any Due Diligence exercises
- Negotiation and Assessment of offers
- control of process
- keeping cool
- ensuring the seriousness and funding strength of bidders
- Finalising the Sale and Purchase Agreement
- minimising warranties and indemnities
- guarantees and claw backs
- deal structure
- earn outs/loan notes etc
Remember that the selling process can cause a major distraction from the day to day running of your business, and at a time when it is vital that it is performing well. It is essential that you use an external adviser who can run the disposal process while using your time efficiently, who keeps you well briefed on developments, and who can achieve a sale by the right sort of buyer in as short a time as possible. The Mill Consultancy has the benefit of advisers who have operated businesses themselves and who understand the challenges of ‘being in the trenches’. We can help you win the task of selling your company successfully.
See also Exits and Succession