With a loyal staff base and a twelve-year run, this audio transcription services business decided now was a good time to sell after previously considering how to build up their business. Here’s Pamela and Debra’s story.
“My business partner, Debra, and I came to the decision to sell our transcription business because, after twelve years of working hard and growing the business, we were ready to move on to pastures new. The business produces transcripts from recordings of meetings, interviews, conferences and other events for a wide range of clients.
Uscita were recommended to us by our accountant, initially with the intention of working on the business and building it up, rather than to sell.
We’d met with Paul before we’d decided to put the company on the market, discussing how we could add more value and build a more solid foundation.
As we’d been in touch with Paul on an ongoing basis, we then started to look at what we hoped to gain from the sale of the business and what price to market ourselves at.
Uscita marketed us, they created the materials and the description, for example the portfolio and sales particulars. They liaised on our behalf, sending NDAs to any interested parties. Paul was very helpful when it came to meeting prospective buyers face to face, attending all the meetings, preparing an agenda and advising us on how best to present ourselves.
The advice we were given was all information we wouldn’t have thought of ourselves, for example keeping meetings to a specific time frame and restricting the information we were providing to the prospective buyers.
We received a number of offers fairly quickly, but none that we considered acceptable as an important requirement for us was that whoever bought the business would keep our existing staff. They had helped us to build the business and we wanted job security for them. We also thought they were the best people to ensure that our clients would continue to receive a high quality service. Paul offered advice on the offers, clarifying for us exactly what each one involved.
When we found the right buyer, there were some obstacles to overcome but a deal was reached which we felt was the best deal for us. They were a good fit for us, a small company who had worked on similar contracts and had a similar approach to us.
I’d recommend Uscita to those looking to add value to, build or sell their company. Paul and Alex were both hugely supportive. They helped us to get to grips with the figures and offered invaluable financial advice.
The attention to detail was apparent and, with Paul digging under the surface to help us understand what was being offered, he was worth his weight in gold. I’ve been really appreciative of the support from Uscita as well as the after-sale care Alex and Paul have provided us with.”
From the co-owner of an Audio Transcription Services Company
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