Articles [2017]

Timing Your Exit - Don’t Underestimate the Length of the Sales Process Part 1

Wednesday 29 November 2017

Unfortunately, for those of us who like to plan, the time it takes to sell a business is not predictable.  Even after the sale has completed, the business owner is likely to be ‘tied in’ to a handover arrangement for a number of months.  Depending up…

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Deal Structure and Deferred Consideration

Friday 17 November 2017

There are many factors that contribute to making a deal acceptable to both Buyer and Seller and one of the most important of these is deal structure.   It can be a surprise to a Seller to learn that they will almost certainly not receive all of their…

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The Meaning of ‘Debt Free Cash Free’ - Updated

Wednesday 08 November 2017

We last wrote about this topic in August 2012 and we have recently come across some new information which readers may find useful.  “£XXX for 100% of the shares of XYZ Ltd on a debt free, cash free basis” This approach is commonly used in the sale …

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Acquisition Support Services – On-Market & Off-Market Search

Monday 16 October 2017

The first step in any acquisition process should be to document the criteria which a valid target company must meet.  Once the criteria have been set the search process can begin.  The first step in searching will be ‘On Market’. ‘On-Market’ means t…

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Acquisition Support Services – Determining the Acquisition Budget

Thursday 05 October 2017

The first step in any acquisition process should be to document the criteria which a valid target company must meet.  It is better to start with as much focus as possible.  The criteria can then be widened or relaxed if insufficient targets can be fo…

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"I'm Better Off Keeping My Business"

Friday 22 September 2017

“I’m better off keeping my business” is not an uncommon reaction when we provide business owners with a genuinely achievable guide price for their business, as opposed to an inflated price designed only to seduce the owner into committing to sell. Th…

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Real World Business Valuation

Thursday 11 May 2017

There is no perfect mathematical formula for valuing a private business – ultimately the business is worth what a buyer is prepared to pay. However, with a combination of science and art, applied by somebody who understands both the nuances of the …

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