The full M&A process, step by step

Confidential first conversation

We start by understanding why you are considering a sale, what matters most to you, and what a successful outcome would look like. For some owners, that means the highest possible price. For others, it also means protecting employees, preserving a legacy, avoiding disruption, or choosing a buyer who understands the business.

Market Value Study

Before making a major decision, you need to know what buyers are likely to pay. We review your company, earnings, growth, risk profile, industry, and recent market activity to estimate a realistic market value range.

This is not a tax appraisal or a generic formula. The purpose is to help you understand whether the current market can support the outcome you want, and what factors may raise or lower buyer interest.

Preparation before going to market

This is where the process becomes real. We help organize the story and the information buyers will need, including normalized financials, add-backs, growth opportunities, customer and vendor context, management depth, equipment or asset detail, and answers to the obvious diligence questions.

We also build the secure data room and marketing materials. The data room is a private online folder for financial and business documents. The marketing package usually starts with an anonymous teaser and then moves to more detailed materials only after a buyer is qualified and under NDA.

Confidential buyer outreach

We create a targeted buyer list, usually including strategic buyers, private equity groups, family offices, independent sponsors, and qualified individuals where appropriate. We do not simply blast your company name into the market.

Initial outreach is confidential. Buyers see enough to understand the opportunity, but not enough to identify the company. Your identity is shared only after the buyer is screened, confidentiality is documented, and the process calls for it.

Indications of Interest and buyer comparison

Qualified buyers submit preliminary interest, often called an Indication of Interest. These are not just price quotes. We compare headline value, cash at close, seller financing, earnouts, rollover equity, financing certainty, timing, diligence requirements, employee plans, and cultural fit.

This is where a competitive process creates leverage. Instead of letting one buyer frame the conversation, we put multiple serious buyers side by side and use that comparison to push for better price, better terms, and better certainty.

Management meetings and final offers

Shortlisted buyers meet with you and the advisor team. This stage gives buyers more context and gives you a chance to evaluate who they are, how they think, and whether they can actually close.

After meetings, buyers submit refined proposals. We negotiate the important deal points before selecting a finalist, because leverage is strongest while multiple buyers are still engaged.

Letter of Intent

The Letter of Intent, or LOI, outlines the buyer's proposed price, structure, timeline, exclusivity period, diligence expectations, major conditions, and closing path. Most economic terms are generally non-binding until final documents are signed, but the LOI often includes binding provisions around confidentiality and exclusivity.

The LOI is a major milestone because it narrows the process to one buyer. That is why we negotiate hard before signing it. Once exclusivity begins, the buyer typically gets deeper access to the business, and your leverage changes.

Due diligence and closing

After the LOI, the buyer verifies what they are buying. They may review financials, tax, legal, operations, customers, vendors, employees, insurance, equipment, real estate, working capital, contracts, financing, and other deal-specific items.

At the same time, attorneys draft the purchase agreement and related closing documents. We coordinate the buyer, lender, attorneys, CPA, escrow, and other parties so the transaction keeps moving and you know what is happening.