Our Sales Process
We'll handle your business as our familys
My mother always says if you have both good news and bad news, then start with the bad news first. So, the bad news is the process of selling your business is often lengthy, stressful and expensive.
The good news is that Edgeborough Acquisitions understands the challenges associated with selling a business and is here to help. With our proven plan and expert guidance, we can make the process much smoother and easier for you. Although it may be new and reasonably complicated at times, our comprehensive approach takes into account all the different types of sale that are possible.
We will walk you through the process step by step as your sale progresses, but as we know clients want to see a rough guide at this very early exploration stage here it is below.
Initial Enquiry
The first step in our sales process begins with an initial enquiry from a prospective business seller. We encourage you to reach out to us through our contact form, our email at info@edgeboroughacquisitions.co.uk or by giving us a call at +44 7717 153792. We will promptly respond to your enquiry and gather some initial information about your business.
Exploratory Call
Following the initial enquiry, we schedule a discovery call to further explore your business and understand your goals and objectives. This conversation allows us to gather more in-depth information about your business like what is for sale, the current ownership structure, a preferred timeline (if you have one) and assess the potential for a successful acquisition.
Face-to-Face Consultation
If the initial discussions are promising, we arrange an in-person meeting to delve deeper into the details of your business that would take no more than 90 minutes. This meeting is a crucial stage where we aim to reach a resolution on price, timescales, and deal structure. It is essential that all owners of the assets for sale are present at this meeting to ensure effective communication and decision-making.
The meeting will be held at the Edgeborough Acquisitions offices in Farnham, Surrey.
Signing Heads of Terms
The Heads of Terms is a key step in the process. We need to agree and then outline how the sale will be achieved as this will serve as a foundation for further engagement with solicitors, accountants, and bankers involved in the acquisition process.
Without a signed agreement outlining the terms, professionals will not have the necessary information to assess and provide advice. This ensures that professionals can confidently invest their time and expertise in facilitating the acquisition and will save money for both sides of the acquisition by avoiding unnecessary wasted professional time.
Due Diligence
Once both sides have reached an agreement on the terms of the sale, it's time to let the accountants earn their fees by leading the due diligence phase (which is checking the company is what it claims to be and owns what it claims to own).
This strategy will prioritize low risk and sustainability, ensuring that the acquisition does not cause undue stress on the company's financial health. At Edgeborough Acquisitions, we understand the significance of working with professional advisers to facilitate a smooth and secure acquisition process.
Sale & Purchase Agreement
Now that the owners have agreed on the price and terms of the acquisition, it's time to engage solicitors to handle the legal aspects. We highly recommend working with solicitors who specialise in mergers and acquisitions (M&A) to ensure a smooth and successful transaction.
We can provide you with a list of reputable M&A solicitors. These professionals have a proven track record and can save you time, frustration, and money. Prices typically range from £8,000 to £15,000+. Therefore, it is crucial to include this expense in your financial plan. Be cautious of significantly lower quotes, as they may compromise the quality of service.
For clarity, it is standard practice that you would be responsible for covering your own legal costs, while we would bear our own expenses. This ensures transparency and fairness in the process.
Transition
We understand that this phase of the acquisition process can be a busy and potentially stressful time. However, we want to assure you that we are well-prepared to assist you thoroughly and alleviate any concerns. We have developed comprehensive checklists for every step of the acquisition process.
Rest assured, we are committed to providing you with the support and guidance you need throughout this journey. Our checklists and expertise will be at your disposal, ensuring a thorough and well-organized acquisition process.