We start with an introductory phone call or two to discuss your business at a high level, backgrounds, and motivations. This enables us to determine whether it’s worth moving forward. We’re in-person business type of people, so we’re happy to make an effort to travel in order to get to know you and your business better.

If after the confidential call, we determine that there might be a mutual fit, we execute an NDA for our mutual protection, and request a short list of documents. This typically includes financial statements over the past few years and some operating data/metrics.

After completing our initial diligence, you can expect an Indication of Interest or IOI. This is a one-page letter that will provide the broad outline of a potential deal, which includes price range and other key conditions of the deal. This IOI is mutually non-binding, as there is still room for negotiation on terms. It serves as an indicator that we’re generally aligned on the big items such as price, deal structure etc.

If the IOI is agreeable to both parties, it will be formalized into a Letter of Intent or LOI. This is a legally binding document that expands on all keys points mentioned in the IOI and also addresses other key considerations for the deal.

This is the sprint to the finish. Once the LOI is signed, we’re drafting legal documents, doing a deep dive into the business, and having an accounting firm reviewing the books, all to better understand all aspects of your business.

Once confirmatory diligence is complete and all the legal documents are signed we’re all set to close the transaction and begin working towards transitioning the business. Each transition plan is different and in many cases, the owners/sellers might be staying on to continue to work with us on operating the business. This is where the real work begins!