Selling a business – The process

We will undertake an initial appraisal of the business.

We will let you have our opinion on the value of the business and any other relevant comments.

Our standard broker agreement will need to be signed if you wish to formally instruct us.

We will draft an Information Memorandum for your approval.

By this stage we will have developed a profile of the most likely type of buyer (trade, individual(s) or investors). Each of our clients businesses therefore requires an individual and tailored approach to marketing. Our marketing will consist of all or some of the following:

• Confidential direct approaches to potential trade buyers identified by us.
• Confidential approaches to sector specific prospects we jointly identify with our client.
• Approaches to purchasers registered with us.
• Advertising in national press.
• Advertising via a number of national and international internet sites.
• Advertising in the trade press.

Confidentiality is a major issue for the majority of our clients. All prospective purchasers are closely vetted by us and will need to sign a confidentiality agreement prior to any commercially sensitive information being released.

Once they have been vetted and signed a confidentiality agreement we will arrange for you to meet all suitable prospective purchasers.

All offers will be made to us and communicated to you as soon as they are received.

We will handle all negotiation with prospective purchasers and take your instructions at all stages.

Once the price and structure of the sale has been agreed we will draft heads of terms to be signed by you and your purchaser.

Your purchaser will want to undertake some detailed due diligence at this stage. We will facilitate this process and deal with any issues that arise.

When heads of terms have been signed we will contact both parties legal advisors.

We will keep in contact with both parties and the other professional advisors involved as the sale progresses towards completion.