Selling a Business
Owning a business for many people can be a major life-long event. You've put your life's energy into it and have borne the many risks associated with such an endeavor. At some point in time you will either want to retire, relocate, savor a change of life, or maybe you'll have to deal with a personal, family, or health issue. Events like these can create a need to do something about your business.
Business transition planning, or having an “exit strategy” can take on many forms. Among the possible outcomes of a business transition are going public, transferring ownership to a family member or a third party, merging with another company, bringing on additional owners as partners, or selling the business.
Many times a business is a major component of one’s personal and/or family wealth. That asset needs to be protected and its value maintained. If and when a decision is made to sell the business, the utmost care needs to be taken to get the maximum value for it and to transition it as smoothly as possible while meeting the objectives of the owner.
Discretion is critical in the sale of a business. No owner wants their employees, their customers, their competitors, or even their friends to know they are contemplating a sale of their business. We don’t disclose to anyone the particulars of any listed business without a signed non-disclosure agreement from a potential buyer. All of our advertising and promotion is done blindly to attract potential buyers, but they will not know the location, name or any particulars of the business. Although the buyer will eventually want to see the business premises, buyer introductions can take place at a time and place convenient for you.
We will work with your advisers to structure a deal that is the most advantageous to you and that helps you minimize your tax consequences and maximize your cash out. The structure of a deal is important and can have a big impact on your benefit from a sale. We work with each client’s lawyers, accountants, and any other advisers to make sure we are getting the best deal possible for you.