Once the LOI is signed, the real work of selling your company begins. Sell Side Quarterbacks will manage the in-depth due diligence process, preparing ad hoc schedules and analysis as requested by the buyer and buffering you from the endless stream of questions to the greatest degree possible.
Meetings in the Due Diligence Process
Operations Discussion
Most buyers will request one or more follow-up meetings to dig into the nitty gritty of how your company operates and their operating partner (the manager who will run your company post close) . Sell Side Quarterbacks will set up and attend the meeting to ensure everyone remains on the same page and removes roadblocks as they arise.
Financial Due Diligence
During the course of their due diligence, buyers typically will have a financial person from their group or a 3rd party financial due diligence group essentially audit your company financial records and provide their opinion on the quality of earnings and adherence to GAAP.
Legal Due Diligence
At some point prior to drafting the definitive sales agreement, the buyer will have their outside counsel review all legal and compliance aspects of your business. Our goal is to provide all the legal agreements and compliance certification in the in-depth virtual data room to minimize your interaction with the buyers outside counsel.
Once the buyer is satisfied, Sell Side Quarterbacks will work with your outside counsel and the buyer to draft a definitive sales agreement acceptable to both you and the buyer.
At this point there is one final step before closing - the buyer will require a meeting with your key clients with you present to understand the client's perception of their relationship as a client of the company and provide assurance they will remain a client post close.
Finally the buyer and seller will execute the definitive sales agreement and the sale will be completed!