Being ready for a business sale before the process begins is fundamental to a smooth transaction.
Being ready for sale means:
You should have good monthly historical management accounts, with profit and loss account, balance sheet, cash flow and key performance indicators. These should reconcile to the year end statutory accounts.
You should be able to articulate any one off, non-recurring transactions that you have had in your business that can be an adjustment to your EBITDA.
You should know how much cash your business needs to operate and whether there is any surplus cash that belongs to the shareholders – this sounds easy but it is subjective and you need to be ready with a strong argument to defend your view.
You should have a clearly articulated strategy going forward, with detailed numbers reflecting this. With our experience, we can help challenge your strategy.
In order to be able to deliver the above well, we believe that your advisor should have a strong background and not just have worked in practice, working on the theory. This is where Langricks stand out.
Our founder Chris Langrick has not only worked in the KPMG Transaction Services Team, working on some fantastic transactions, including the flotation of Moneysupermarket.com, he has worked overseas as a Finance Director in industry, listing an oil and gas business on the UK stock exchange whilst having also been through the process of acquiring a business directly himself.
At Langricks we help companies and business owners plan and exit their business through a simple but methodical approach to achieve maximum value.
If your end goal is to sell the business you need to start getting your ducks in a row now to maximise the value and iron out any potential issues before they are seen within the sales process.
Don’t just take our word for it see for yourself…
Get your business ready for sale with Langricks Vendor assist solutions.