Assembling the Right Team for Sale
The decision to sell your business may be the most important decision you’ll make. The process is long, time-consuming and involved. In order to efficiently execute this transaction, an owner needs the right guidance and team to ensure a successful sale. Some of the key team members are:
M&A Advisor – choose an advisor that is experienced in dealing with an owner-operated and/or small to mid-sized businesses, has significant M&A experience and contacts with potential buyers.
Lawyer – the lawyer is an integral team member in carefully drafting and structuring the sale agreement and providing sound legal guidance to the owner. An experienced transaction lawyer is always preferred. Also, the lawyer should be able to handle the volume of work and be available for key discussions/negotiations. Lack of transaction experience or inability to manage the volume could potentially impede the transaction.
Accountant – need a strong accountant (internal, external or both) who understands your business, is preferably certified and well-versed with Canadian GAAP (Generally Accepted Accounting Principles). The accountant is required to play a key role in providing financial information during due diligence and discuss buyer questions and issues related to the financial statements.
Key Management – need to involve one or two key managers. They could assist the owner with the transaction process as well as the smooth functioning of the on-going business. Also, potential buyers like to meet with Key Management as they could potentially play a major role with the new buyer post-sale.
Distinct Capital Partners is an owner-operated M&A advisory firm focussed on middle-market companies. We have executed hundreds of transactions and have over 70+ years of combined experience. We have over the years developed a robust network of potential buyers, accountants and transaction lawyers.