• During an M&A process, it is extremely important to generate interest from multiple parties in order to induce competition among buyers. Too often sellers go down the M&A path with only one buyer, which a) eliminates competition that could increase the value of the business and b) exposes the seller to significant risk if the buyer does not have the financial wherewithal to complete the transaction.

• Running a complete M&A process, soliciting a large, yet targeted universe of potential acquirors, and hand picking the best candidates is the only way to achieve maximum value for your business.

• Timing is an important function of the process that keeps buyers not only interested, but excited to do a deal. A professional advisor can set an M&A timetable that allows the maximum competition among buyers while at the same time maintaining the impetus to close the deal.

• When undergoing a formal M&A process, it is important to execute a structured process that targets a wide audience of potential buyers and fosters a competitive bidding environment. Set forth below is a typical timeline of a professionally structured M&A process:

• Many of the larger buyers are public companies with stock that trades at a multiple to earnings. Earnings that are “acquired” in a transaction immediately create value at a multiple of such earnings. For example, if the stock of a buyer is trading at 15 times price to earnings (P/E) and the buyer acquires a company with $1 million in earnings, the transaction has generated $15 million of value to the buyer.

• We have experience in running successful M&A processes that generate interest and a competitive bidding environment in order to ensure our clients realize maximum value for their company.