Process
Selling a business is a big step for you and everyone around you. Here’s what you can expect.
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Exit on your terms.
Exiting a small business is a highly personal process. It almost never means selling and walking away.
From the first conversation, we focus on owners’ goals inside and outside the business.
Most transitions take 3-9 months.
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A true partner
Fair deals grow strong communities. We operate with genuine concern for our partner companies and their employees, customers, retiring owners, vendors, and the communities they serve.
A recent industry survey by Live Oak Bank showed that 98% of owners thought their deal was fair, 1 year post-close.
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Timely dealing
Timely, clear communication is important.
A business we like should receive a formal offer (LOI) within two weeks. If all parties want to move forward, the entire closing process should take about three months.
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The steps
A typical process takes 2-3 months pre-close and 1-6 months post-close:
Introductions
1-3 follow-up meetings
Non-binding Letter of Intent, putting financial and transition terms from initial meetings in writing.
Due diligence
Closing
Post close transition period.
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Who you know
You’ve heard it: It’s not what you know, it’s who you know.
If you know someone who might be selling sooner than you are, let us know through our referral program.
If you introduce us to an owner that we eventually invest with, we’ll send you $10,000 (or more), a nice vacation, and a handwritten thank you letter for that introduction.