At Lakeside Acquisitions we understand that no two companies and no two deals are the same.
We take the time to understand the nuances and intricacies of your business in order to represent you successfully and secure the best terms.
We prepare for the inevitable hurdles that come with finding the right deal, allowing us to navigate each step of the process as efficiently as possible. We typically refer to ourselves as “the quarterback” of the deal, working in tandem with you, your attorney and your accountant to execute the strategic “game plan”.
The Process
1. Complimentary Consultation Call
Complimentary Consultation Call. A 30 to 45-minute phone call designed to give you more information on our services and process. We aim to learn some high-level information on your business and exit strategy goals and provide insight on what we are seeing in today’s M&A market.
2. Business Valuation Analysis
Business Valuation Analysis (One Time BVA Fee). We analyze key documents and business information (such as your P&Ls, Balance Sheets, Tax Returns, Equipment/Vehicle Lists, Employee Payroll, etc.) through the “eyes of a buyer” and the “eyes of a lender”, working closely with you and your accountant to understand the intricacies of your business. We deliver our Business Valuation Analysis report to you within two weeks of receiving all information.
Analysis includes the breakdown of your “Walk Away Proceeds” (i.e. your take home proceeds after paying off debt & estimated taxes). There is no future obligation to Lakeside Acquisitions if you choose not to proceed on going to market. We highly advise that you complete a Business Valuation Analysis every three years for wealth management and retirement planning purposes.
3. Engagement Agreement
If you are comfortable with our Business Valuation Analysis and wish to go to market with us, we will send you our Engagement Agreement. It is a 12-month exclusive contract, including an Engagement Fee to be paid upfront and a Success Fee to be paid at closing.
4. Go Live Preparation
Lakeside will build out marketing materials for your review and approval including a one-page teaser and CIM (Confidential Information Memorandum). We then organize and build out a secure online data room for buyers to review information after they have signed an NDA and have been approved by us. Lastly, we put together a targeted buyer list with our top buyer prospects for your review and approval. We then utilize Lakeside’s extensive database and active outbound marketing strategies to target these specific buyers in addition to advertising on select business-for-sale websites.
5. Indication of Interests
From the day we go live, we set an IOI deadline (Indication of Interest), dependent upon the size of the buyer list. Interested buyers must submit a high-level interest letter with a valuation range and structure, financing contingencies and sources, timeline for Due-Diligence and Closing, management plans, etc. We will review the IOIs with you and invite select buyers to Management Meetings.
6. Management Meetings
We will coordinate Management Meetings for 1-1.5 hours with each selected buyer to answer their additional questions about your company. This is a chance for you to get to know the buyers and interview them just as much as they are interviewing you. Lakeside will prepare you in advance of these meetings to field the buyers’ questions and be there to lead each call.
7. Letters of Intent
After Management Meetings, we set a deadline for buyers to submit a Letter of Intent (LOI) including all terms of sale and review these terms with you and your attorney.
8. Negotiation
We handle all of the negotiations with buyers, continuing conversations and discussing terms until we have an agreement and executed Letter of Intent from both parties.
9. Due-Diligence
As the lengthiest part of the process, this intense 90 to 120-day period is required by buyers to allow them to audit your business financials, accounting, operations, legal, etc. prior to closing. Lakeside’s expertise is critical during this phase of the process to keep closing on track and mitigate buyer concerns.
10. Coordination & Closing
Once Due-Diligence is complete, attorneys coordinate all necessary legal documents and information to close and complete the sale.
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