Phase 2 – Executing Your Business Transition Plan

Time to complete: Typically 4-6 months

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Once you determine it’s the right time for you, we move on from Phase 1 and into Phase 2 to begin executing your transition plan. For some owners, execution may entail completing an internal sale to partners, management or employees. For many, this means maximizing sale price by selling to a third party utilizing our “No Regrets Transaction Process”.

Similar to selling a house this process is designed to attract a large number of qualified buyers to ensure you get the best price on the best terms. But the details of our process reflect our depth of M&A experience by managing a very coordinated process designed to create more competition and improve the terms of the offers. All with the goal of ensuring you have an enjoyable experience and feel confident about the future.


We start by designing marketing materials, called a “CIM” (Confidential Information Memorandum), aka seller pitchbook, that highlights the unique strengths of your firm as well as the future opportunities your firm is positioned for. Through our years of also working as a buyer of private companies we are able to carefully craft messaging that positions your business in the best light through the eyes of a buyer.

Where we often see owners go wrong in this process is by utilizing an unsophisticated business broker without the expertise to craft compelling marketing materials that create excitement about your business. Most of them also lack the established network to reach a large number of buyers and simply list the business on a website, among many others similar type companies, and hope the right buyer sees and chooses yours.

Through years of M&A experience, we leverage a strategic partnership to proactively access tens of thousands of qualified buyers.


As initial interest starts coming in, we collect specific details about the parties so that we can begin to assess fit.

The first layer of screening compares the details of each interested party to our pre-determined list of must-haves. Once discussed with the seller, those that meet at least a minimum level of qualification will be contacted by our M&A advisor to further vet the buyers and understand their plan, while also taking time to better position your firm to them.

Those parties who are still deemed to be a strong fit are invited to submit an Indication of Interest (“IOI”). The IOI helps us understand, on a very high-level basis, what a more formal offer may look like from each firm.

Those who are still serious contenders after submitting an IOI are given access to the Data Room—a secure cloud-based portal where additional details and documents relevant to the firm are securely stored.


Once we’re satisfied with discussions, we set a date for all Letters of Intent (“LOI”) to be submitted. The LOI is a more formal offer that highlights the proposed purchase price, deal structure, the exclusivity period for buyer due diligence, and other relevant details that the buyer is prepared to move forward with.

Having all parties submit LOIs at the same time creates more of a bidding war, pushing them to submit their highest offer and most attractive terms while leaving the seller with strong negotiating power and the ability to counter offer based on the degree of fit. Once we’ve identified the best fit buyer and are happy with the proposed terms, you will sign the LOI and move into the exclusivity period where the buyer will perform due diligence and prepare the final agreements.

It’s important to note that the Purchase Agreement is often dozens of pages in length and should contain sufficient detail that is understood by both parties. Since this can be very complex legal language, we utilize one of our highly experienced M&A attorneys to represent you with the finalizing of these important documents. Once everything is understood and agreed to, you sign the Purchase Agreement making the sale official.