In 2023, we were introduced to this specialist electronics company through their accountant. Founded in 2000, the company supplies components to a wide variety of industry sectors. Sensibly, the owner had been planning what they wanted their business exit to look like since 2021. In late 2023 they appointed Paul Dodgshon from Business Partnership to broker the sale of the business.
Finding the ideal buyer
Paul quickly produced the Information Memorandum and other documents key to securing the best sale for our client. Knowing his market well, the vendor produced an extended list of potential buyers which we added to. Paul then discreetly and confidentially targeted the top five to find out if there was any appetite for a purchase without revealing the identity of the company. The eventual buyer turned out to be their number one target.
Whilst Paul pursued potential suitors, the vendor and their management team focused on refining the business structure and creating the appropriate atmosphere and mindset for the sale of the business.
By March 2024, Paul had secured firm interest from a handful of buyers. A deadline was set for final bids to be made. Paul provided feedback on each interested party and his opinion on whether they should progress to the next stage, all with sound reasoning to back it up. By April, a single preferred bid had been secured and due diligence began.
Completing the sale
The deal completed in October 2024, less than a year after Business Partnership were appointed. The vendor was confident they had sold to the best possible buyer. All staff are secure in their roles and a positive outcome has been achieved for all. The vendor is looking forward to spending time with their family, travelling, and enjoying their hobbies of golf and brewing beer.
What the client says…
My accountant is a trusted adviser, so I was happy to follow their recommendation to speak with Paul. We got on well immediately. Paul came across as a very honest, sensible and knowledgeable broker, and I could tell he had done his research. I particularly liked the sale structure he presented. He had prepared an impressive pack containing company information, a valuation of our business, key figures and clear calculations. It was well thought through. I trusted him from day one.
Throughout negotiations, Paul explained all the financial and legally terminology in layman’s terms and was a stickler for discipline. He was instrumental in pulling the key documentation together, arranging meetings and calls, all the while offering me advice and support. It was clear he was experienced in brokering deals on a local and national level.
Paul also gave me valuable coaching advice around how to detach myself from the business, and supported me throughout an arduous due diligence process that lasted six months. The workload was massively demanding, but Paul was ever-present, reminding me to trust in the process, helping to remove obstacles and negotiating on our behalf.
Other parties involved in the sale, including the eventual buyer, were also very complementary about Paul’s role and contribution. They commented on his professional approach, responsiveness, and his impact on getting the deal over the line.
I didn’t appreciate how long the business would take to sell. The process of planning, engaging the right people, approaching suitors, negotiating and due diligence took four years. Having spent a large part of your life building a business you want to achieve the return you deserve. Aside from the financials, my main goals were to protect my employees and preserve the legacy of the business I had built. Thanks to Paul’s guidance and support, I have achieved this.
– Former Managing Director
