Before you respond
An unexpected approach from a competitor or a private equity fund can be flattering, and sometimes it may even be the right offer. However, a buyer who approaches directly may be hoping to agree terms before anyone else has the chance to bid, and the first figure mentioned is rarely the best deal.
We look at the offer with you, to form an objective view of what the business might be worth to a wider set of buyers. This helps you, and your shareholders, decide how, and whether, to respond. That may mean negotiating directly, getting other offers quietly, or declining politely. It is worth seeking advice before agreeing to exclusivity or signing heads of terms, since both narrow your options considerably.
How we help
Assessing the offer
What is being offered, how it is structured, how much of it is deferred or conditional, and how it compares with what the business might achieve elsewhere.
Understanding the buyer
Why this buyer, and why now. Our research shows what the buyer has bought before, how often and at what size, and its reasons for approaching often say a good deal about how much the business is worth to it.
Testing the market
Where it is in your interest, discreet approaches to a small number of other credible buyers, so that the first offer is not the only one.
Responding
Negotiating better terms, running a short competitive process, or declining in a way that leaves the door open.
Other services
Sell-side M&A
Full and majority sales to trade and financial buyers, run as a managed process from preparation through to completion.
Private equity investment
Partial exits and growth investment for shareholders who wish to retain a stake in the business.
Exit readiness
Valuation and preparation ahead of a sale, often a year or more before one.
Begin a conversation.
For a confidential discussion about your business and the future.