Chapter III, advisory
Six kinds of seller-side work.
Each engagement uses what the owner needs and nothing more. Open any line for detail.
Pre-sale valuation
A defensible range before anyone is told anything. Earnings are normalized and the risks a buyer will price are named first.
- Normalized earnings
- Goodwill and concentration
- Lease and key-person risk
- Likely buyer types
Exit design
Deciding what kind of exit fits the owner: timing, a full sale or recapitalization, family or third party.
- Timing and readiness
- Sale or recapitalization
- Family or outside buyer
Confidential market
Buyers learn about the opportunity without learning the name. Identity is released only behind a signed NDA.
- Coded teasers
- NDA-gated memorandum
- Hand-chosen names
Buyer qualification
Funds, operating skill, and fit are checked before a meeting is offered, so the owner’s time goes to real buyers.
- Proof of funds
- Operating background
- Cultural fit
Managed process
Where the company can bear it, several qualified buyers move in parallel so the terms are tested.
- Parallel interest
- One calendar
- Advisors kept in step
Close and transition
Structure follows the owner’s tax and cash needs, and the handover is one the owner can live with.
- Cash, notes, earn-out
- Tax-aware structure
- Transition plan
Intent
What the engagement is for.
Know value first. Market without a spectacle. Let structure follow the owner’s tax and cash needs. Keep the name quiet through the handoff.
