Ballard Evans is highly active in business disposals and we act exclusively as retained advisors and project managers.
We manage each disposal assignment in order to present our client’s business in a way which will allow us to achieve the most favourable price, terms and structure of a deal.
The process of a business disposal involves a number of distinct stages and Ballard Evans will be involved in each of these stages.
Preparation for Sale
Prior to our engagement on a disposal assignment, we undertake a significant amount of work to understand the business, its performance, the sector it operates in and the potential buyers. This approach allows us to establish likely valuation parameters.
Once engaged, we then collate the information that potential buyers will require in order to make an informed offer for the business and prepare an information memorandum.
We will also prepare a list of target acquirers using a combination of our experience and sector knowledge, sophisticated databases and through dialogue with other advisors. We always agree all target acquirers with our client before approaching them.
We are highly experienced at making discreet approaches to the senior management of target acquirers. We ensure that confidentiality is maintained by ensuring that an appropriate undertaking is put in place.
We issue the information memoranda to interested parties and co-ordinate any requirements for further information. Prospective purchasers will want to meet the vendor(s) and in some cases visit any sites.
Ideally, a number of in-principle offers will be received for the business. We will carry out careful negotiations to ensure the terms of any offer are as favourable as possible for our client. Once an offer is accepted, heads of agreement are prepared.
Once the heads have been agreed, the due diligence process will commence. We manage the due diligence process to minimise the time pressure on our client(s) and reduce disruption to the business.
We also liaise closely with the lawyers to ensure that all key commercial and financial matters are reflected in the relevant documentation.
Throughout the process, we are involved in dealing with issues that arise and we are proactive in finding solutions for these issues.
We drive the timetable to ensure that completion is achieved in as timely a manner as possible. We are results driven and the majority of our fees are contingent on completion of the transaction.