Privately owned businesses are a fundamental part of the economy and account for a vast majority of job creation. Preserving these businesses through effective transitions – generally through a sale or merger, but sometimes via a recapitalization or succession plan – is our passion. We have either worked for or owned businesses ourselves, and know the character-building experience of meeting payroll and maintaining sales.
When it comes to selling, we use a comprehensive multi-step approach with you at the center. We identify and frame the opportunity, which is outlined in detail within the confidential information memorandum. We go to market without a price, and seek multiple acquisition proposals. We manage the entire sales process and bring the deal home.
Buyers will offer different values for a company, depending on their motivation and needs. We are pro-active in approaching prospective buyers, from strategic/synergistic buyers to private equity funds and capable individual investors, to identify those most motivated and therefore willing to pay the highest price.
Our initial meeting focuses on getting to know you and the business. We clarify the engagement and explain the anticipated schedule. When appropriate, we will provide the information needs list to move through the sequence, outlined below.
We perform a comprehensive financial review, assemble an estimate of value and review the report with ownership.
We gather details about the company, prepare the confidential information memorandum and develop a preliminary buyer prospect list.
We distribute a mailing to targeted buyers using a blind summary. After obtaining non-disclosure agreements, we distribute the information package and follow up. Our goal is to get multiple parties interested, especially those who would place the greatest value in the acquisition.
Our process narrows the field of interested parties through letters of intent. These are evaluated with owners and one is selected. The focus then shifts to due diligence review, development of the definitive agreement and eventually a closing.
"The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home."
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition."
"BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal."
"These types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement."
"The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth."
"John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail."
"John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals."
"The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner."
Looking Back to Plan the Future
As one year closes; another is just beginning. It is an excellent time for company owners to consider the options for what is next.
Growth Through Acquisition in the Lower Mid-market
Growth through acquisition has been a strategy largely used by mid-sized and larger companies for years. Now firms in the lower mid-market are getting into it as well.
PEI Cites 8 Attributes of Quality Deals
Quality deal flow is among the top concerns for M&A advisors. A recent blog posted by Private Equity Information offers 8 key attributes of “quality deals.”
In an M&A Program: Why Consider a Business “Carve Out”?
An M&A program need not be limited in the search to the complete acquisition of a company.
The BIA Report on Consumer Confidence
"NH consumer confidence remains high" according to the latest BIA Survey conducted October 10 and October 18, 2018 by the UNH Survey Center.
Business Transition Snippets
Here are a few observations we culled from sources we regularly review that relate to business transitions.
What to expect in the LOI exclusivity period
A question that often emerges when reviewing proposals for acquisition with owners is the exclusivity period.
Growth through acquisition isn't just for the big companies
Growth through acquisition Is a valid strategy for businesses in the lower mid-market as well as the mid-market.
The exit decision- timing and issues
When should a business owner start thinking about planning their exit? Early! This is a high-stakes decision and should not be first contemplated when it is imminent.
April PEG investments
It is interesting to watch trends in private equity investments. In general, they reflect confidence in the value of making things. Transactions give insights on the broader acquisition environment, p
Precision Machining Company
Initially, liquidation was a serious consideration. It would offer a quick exit but would hurt loyal employees and disrupt the customers who had come to rely on its quality production.
Green Product Company
Our client owners could dig in for the long haul…However, this would take five years or more. Owners simply lacked the horsepower to do it.
Water Purification Company and Young Buyers
Owners decided they wanted to retire. They also wanted to be fair to the staff who had been loyal to them. Could the company be sold, the staff retained and the facility remain in use?
Magnetics Company with High Profile Customers
(T)he manufacturer would need to focus on growing EBITDA to capture interest from major strategic buyers and achieve a higher multiple of earnings.