FAQ

A structured process creates competitive tension (an “auction effect”), surfaces the best buyers, and maximizes value. The first offer isn’t always the right one, and the “obvious” buyer is rarely the best buyer.

We act as your advocate from strategy through closing, positioning the business, preparing materials, running buyer outreach, negotiating terms, and guiding due diligence and documentation. We don’t lend; we advise before, during, and after the transaction.

A mix of strategic acquirers and financial buyers: private equity funds (including add-on platforms), pension funds with PE arms, family offices, and independent sponsors. Our job is to narrow that universe to qualified, relevant bidders.

Development → Marketing → Closing. Prepare the company and materials; contact buyers and solicit indications; then manage diligence, negotiate legal documents, and close.

A structured information request covering financials (audited and internal), customers/suppliers, operations, legal, tax, HR, IP, and more, organized for a data room and the CIM.

Initial outreach uses an anonymized Teaser (no company name); detailed information is shared only after a buyer signs a Confidentiality Agreement (NDA/CA) and receives the Confidential Information Memorandum (CIM).

Teaser: short, anonymous snapshot. CIM: 40–60 page in-depth presentation. Process Letter: sets deadlines and asks for non-binding offers. IOI/NBO: buyer’s preliminary, non-binding valuation and structure. LOI/Term Sheet: a detailed, mostly non-binding agreement (with binding confidentiality & exclusivity) that sets the path to closing.

Typical exclusivity is 60–90 days to complete confirmatory diligence and definitive agreements.

In most deals, sellers keep remaining cash after paying off debt at closing; buyers acquire the business on a cash-free, debt-free basis, subject to a Working Capital Adjustment.

A target working capital level (based on historical norms) is agreed so the business can run post-close. Actual net working capital is compared to the target; any shortfall/excess leads to a price adjustment, often a six-figure swing if not managed early.

Late or poorly handled working-capital topics are a common cause, which is why your advisor models scenarios and negotiates definitions early.

Your advisor aligns key terms (valuation ranges, structure, conditions) so offers can be compared “apples to apples,” then weighs value, ability to close, structure, resources, and fit.

After initial offers, shortlisted buyers visit HQ, meet leadership, and review a management presentation, your moment to demonstrate strategy, operations, team, metrics, and growth levers.

Definitive terms: price and consideration structure (e.g., cash, earn-out), reps & warranties, covenants, indemnities, schedules/disclosures, and closing mechanics. Buyers often draft the first version; negotiation follows the LOI.

Advisors blend proprietary networks, premium databases, industry groups, and prior inbounds to create a tiered buyer list (strategic and financial) and track outreach stages.

Your working group includes the M&A advisor, corporate/securities counsel (plus tax/HR as needed), auditors, accountants, and insurance advisers, each with defined responsibilities through diligence and documentation.

A strong CIM tells the full story (market, growth strategy, operations, financials, adjustments, projections) and anticipates concerns; it must be supportable in diligence, don’t include claims you can’t evidence.

You’ll focus on portfolio dynamics (timing vs. fund life), buyer-universe mapping, and process efficiency. Expect sophisticated discussions on structure (rollover equity, earn-outs, or continuation vehicles).

As a rule of thumb, plan 6–9 months from preparation to closing (~2–3 months to prepare and launch, ~2–3 months for marketing and indications, ~2–3 months for confirmatory diligence under LOI).

Typically a modest monthly retainer plus a success-based fee at closing that scales with outcome/size; exact terms depend on deal scope and complexity.