Selling a business

Considering selling your business?

Selling your business should be the ultimate reward for your hard work and commitment. Given the numbers involved it could be the biggest decision of your business life.

Areos know you want the right result for yourself and likely the people in your team. We take the time to understand your needs and goals. All our work is then based on supporting you, making the process smooth and achieving the best possible outcome.

Areos 'Selling Your Business' Process

We take a staged approach that ensures you feel confident and well informed.

1.
Understanding

Listening to your needs and goals.

2.
The Groundwork

Learning about your business

3.
Research & Marketing

Shortlisting and marketing your business

4.
Negotiation & Heads of Terms

Agreeing price and the process of taking over

5.
Due Diligence Support

Ensuring your business is ready for sale

6.
Project
Management

Keeping the
process on track

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1. Understanding

The initial stage is firstly all about understanding what you as the seller want to achieve from the process.

Do you want to sell all or part of the business?

How much do you want for your business?

Do you want to be able to walk away immediately?

The outcome of this will steer what the whole transaction looks like, as ultimately meeting your goals has to be the most important consideration.

At this stage we will also take the time to really get to know your business. By understanding how your business works we will be better placed to demonstrate to potential purchasers its true value, which will lead to a higher sale price.

Basing a sale price on what the business is worth to the purchaser is highly likely to result in a higher sale price.

2. The Groundwork

If we are engaged at an earlier enough stage and before a buyer is found, we are able to work with you to help get your business in shape for a sale, which will maximise the value.

At this early stage it is also an opportunity to identify and deal with any potential problems that might arise during due diligence.

Good preparation will certainly help ensure that the transaction progresses without any hiccups.

3. Research & marketing

If we are engaged to market the business in addition to a consultancy capacity to aid with the sale then we will use our findings from the Understanding stage to draft an Information Memorandum for the business (“IM”).

The IM is an information brochure about the business, which will give detailed information to an agreed shortlist of potential purchasers.

Once the IM has been agreed, we undertake an extensive targeted marketing campaign to find suitable purchasers. Before sending any detailed confidential information to potential purchasers we would work closely with you to ensure you are happy with the list.

We understand just how sensitive selling a business can be and the need for absolute discretion.

4. Negotiation & heads of terms

It is important to keep in mind your original goals when negotiating any sale. Our aim will be to agree the most favourable terms keeping in mind what is more important to you.

When terms have been agreed they need to be set out in the Heads of Terms (“HOTs”). It is well worth spending the time to ensure the HOTs are comprehensive as these will be used as a basis for the Share Purchase Agreement (“SPA”). Well drafted HOTs should give the reader a clear understanding of the deal and there should be no surprises when the first draft of the SPA is issued.

We will work with your legal team to ensure this process works as efficiently as possible.

5. Due diligence support

Any purchaser will undertake in depth financial, taxation and legal due diligence on your business.

Due to our accounting and taxation background we have carried out extensive due diligence work on potential targets ourselves, this gives us a real understanding as to what is required and how information should be best presented.

We will work with you and your finance team to support you through this process. If we are engaged prior to a buyer being found, we can assist with building your data room in advance.

6. Project management

Selling a business is a time consuming process, especially for the seller. We will work with all parties to ensure that the process stays on track, unnecessary distractions for the seller are avoided and ultimately help the deal get over the line.