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Step 1: Share & Sign Off On Expectations

Before proceeding with any sell-side activities, we will conduct a value assessment of your business. For obvious reasons, it is essential that we share a similar belief at the outset in terms of what your business might be worth. From there, we will clearly outline our responsibilities throughout the transition process as well as your own as we enter into an exclusive Sell-Side Representation Agreement. This agreement includes an initial retainer that is credited against the ultimate success fee. The success fee is typically calculated using an industry-standard formula applied to the final value of your sale.

Step 2: Target potential buyers. Market your business.

Acuity Mergers + Acquisitions will prepare a Confidential Information Memorandum (CIM) that tells your company’s story in enough detail to allow a potential buyer to decide whether or not to pursue an acquisition. This step also typically includes determining a list price for your business based on the valuation performed in step one.

We will also prepare a one-page generic summary about your business and begin marketing across multiple channels. We keep the identity of your company and other critical information protected until a buyer has been qualified and has executed an appropriate NDA.

It’s at this point that Acuity typically distinguishes itself from most advisors in the market by adding a proactive search component to the industry’s standard networking channels. Based on the unique characteristics of your business, we utilize our database to develop a list of potential buyers, including those who may not even be actively seeking an acquisition. We then contact these potential buyers directly to explain the opportunity and gauge their interest. This approach has delivered great results for our clients in the past, culminating either in a direct sale, or learning about other potential buyers within our target group.

This step ends with an offer to purchase your business. If you provisionally accept the offer, then we move on to the next step in our process. It is not uncommon for a series of offers and counteroffers to occur before final acceptance. If you ultimately reject the offer, we will continue to market your business to other potential buyers.

Step 3: Due Diligence/Document Preparation and Review

Once a provisional sales agreement has been reached, we will disseminate information to all parties so that everyone has a full understanding of the deal. Basically, we help the buyer obtain whatever information is necessary to verify the value of your business, since this is often important for obtaining financing for the deal.

As due diligence is successfully completed, document preparation begins. This typically includes an asset purchase agreement and related documents drafted by an attorney based on the accepted offer or letter of intent from step two. Review from both the legal and business perspective begins here. A lease may be needed. If you, as the owner/seller will be providing ongoing services, a consulting agreement will be initiated.

Step 4: Closing

Once all contingencies are satisfied and financing is finalized, we will work with all parties in creating and compiling the necessary documentation for the final transaction. If the deal involves real estate, this may include coordination with a title company and other professionals for a parallel closing on the real estate. It’s our job to ensure that all relevant professionals (e.g., attorneys, accountants, etc.) have reviewed and approved the deal structure and the documentation prior to closing so that the process is completed smoothly.