Key services

• Business valuation
• Collaboration with the in-house accounts team

Background
Selling a business is often an option when it comes time to retire, or market conditions indicate a business could sell for a premium, unlocking wealth for the owners. Yet, the process of selling a business can be complex and time-consuming. Considerations include a thorough determination of the business’s fair market value. This requires the company to get its house in order, ensure its accounts management systems and reporting are accurate and up to date, and make necessary financial and legal preparations for the transfer of ownership.

The challenge
A new client advised us that they were looking to sell their business. They were specifically looking for advice and assistance in the ready-for-sale process. While the client has in-house accounting, they didn’t have the confidence or capacity to undertake the ready-for-sale process and associated tasks.

The solution
We worked with the client and their internal team to review their prior financial reports, management accounts, and forecasts to identify issues and suggest areas for improvement. We assisted in implementing good corporate governance and documenting procedures for the client and their business, which the new business owner would value.

The client found a potential buyer, and they commenced due diligence. We assisted the client in the Sell-Side Due Diligence and participated in negotiations, including liaising with legal counsel for contract drafting and the structuring of the sale, which ensured the client maximised their after-tax return. As a result, we had a pleased client who achieved a better-than-expected result!