In The NewsPrepare Early When Considering Selling a Business Says Lawrence WilderPublished: 12/03/2010 Lawrence Wilder advocates that businesses start early preparing early when considering selling as an exit strategy. Mr. Wilder's comments appeared in "Planning Ahead Key to Getting Top Value When Selling," an article which appeared in the December 3, 2010 edition of The Globe and Mail. Wilder, a partner in the Securities and Mergers & Acquistions groups, said that companies can get started long before the actual sale date by being organized and ensuring that financial reporting and other bits of housekeeping are in place. “You certainly will get a better value if you have your ducks in a row than if you don't,” Mr. Wilder said. Once a business owner has decided to sell, he or she will need to hire an auditor, legal counsel, a business valuator and, sometimes, a mergers and acquisition adviser. The team completes a company review, Mr. Wilder said. Everything from sales projections to employee and intellectual property agreements inform both the sales memorandum document that is used to market the company and the valuation of the business. “Most accounting firms have divisions that will assist in finding a buyer,” Mr. Wilder said. “They'll quietly market it around the street, and, very often, they won't name the company. They'll just say it has approximately x…revenues, and to please contact the accounting firm to get the name of the person who's selling.” |