The decision to sell a business is often a difficult one. Many of the proprietors we speak to have been in the industry for many years (or decades), and have developed some enduring relationships with staff and customers. Most have never sold a business.
It's often hard to let go.
At Ascent Partners, we'd like to be thought of as a trusted advisor, one that assists and guides proprietors though the process so that they can realise maximum value from what is often their life's work.
The team at Ascent Partners has more than 30 years experience in print, graphic communications and related industries. We talk the printer's language. We understand printing. We know the plant and equipment. We understand the industry.
And, importantly, we have the track record. We have concluded a large number of industry-based business sales, and have conducted dozens of business appraisals. This means you can rely on our ability to provide realistic and correct advice throughout the sales process.
Whether you are an offset printer, packaging printer, screen printer, wide format printer, franchisee, large format printer, print management firm, designer, trade binder or a pre press house, our services can assist you in finding the right buyer for your business, or client list.
We offer an Australia wide "business matching" service and a complete "business sales" service:
Service Level 1 - Business
Matching
APPRAISE, PREPARE, MARKET and MATCH
and REFER QUALIFIED BUYERS
We follow a process that matches "market ready" vendors with "qualified" purchasers::
- APPRAISE - First thing first: If you're going to sell your business, you need to know what it's worth. There's not much point in taking a business to market that is well above market price, nor is there much point in selling yourself out too cheaply. That's why we always appraise a business thoroughly and advise you of the market realities. Our appraisals are based on market evidence – what businesses like yours have sold for - not what a financial formula says it is worth.
To enable us to conduct the appraisal we'll ask you for information about your business. This includes financial information, details about your company history, your clients, your plant and equipment, your staff, and the services you offer. After analysis and discussion, we then provide an appraised value of your business or your client list and the rationale behind that appraisal.
After the appraisal, you'll have the information you need to make a practical, commercially sound decision to continue with the sales process, or to trade on. Either way our appraisal service aims to provide you with the market reality of what your business is worth so that you are armed with the facts you need to make appropriate plans for your future.
- PREPARE - Based on our appraisal and discussions with you as the vendor, we prepare a sales document (information memorandum) about your business which will later be provided to qualified purchasers. This document needs to be accurate and complete. We want to provide enough information to let potential buyers know whether or not the business is suitable for their needs.
At this stage we also offer you advice about the sales process, what needs to be done and planned for and who needs to be included. We'll also advise you of the usual sequence of events, and who the likely buyers are, so you can make the decisions that will ensure you achieve the best value from your business.
- MARKET AND MATCH - We have a very good data base of registered buyers; people who have contacted us and asked to be advised when a particular type of business comes on the market. They want to be the first to know. We also cast the net further, leveraging our contacts and advertising your business as the 'lead' in the weekly Print 21 Online newsletter, (www.print21online.com) and then each week subsequently, with a link to our web site.
When we discuss businesses with potential purchasers, one of the foremost considerations in our mind is the need to keep the sale as confidential as possible. That's why we qualify purchasers before we hold any detailed discussions, and provide them with the information memorandum on your business ONLY after they have signed a confidentiality agreement and satisfied us that they are genuine.
- REFER QUALIFIED PURCHASERS - Once we have identified suitable prospects and provided them with the information memorandum, the prospective purchasers will make one of two decisions. Either they will decide to discontinue the process after considering the more detailed information, or they will want to meet you and visit your business. When we identify people interested in taking the next step, we'll provide you with their names, background, and contact details. Meetings are then arranged, and our service is complete – from here, you will handle the sales process yourself.
This service is ideal if you only need "front end" help from us – help appraising the business, preparing sales documents, advertising, identifying and matching to our registered prospects, and qualifying purchasers. You take the responsibility for managing and negotiating the sale and transaction process.
FEE STRUCTURE
Our fee structure is simple and banded in annual turnover ranges. Flat fees are charged for the initial appraisal, and then we charge "as you go" flat monthly fees. No success fees are applicable for this service.
Service Level 2 - Business
Sales
APPRAISE, PREPARE,
MARKET and MATCH and SELL
If you don't want to handle the sale of your business yourself, we can provide a complete sales service which includes the Business Matching Service outlined above, but instead of referring the leads to you, we act as your sole licensed sales agent. We manage the prospects and sales process for you - actively selling the business, negotiating and advising you right through to the final transaction.
To ensure we can offer the best and most comprehensive service to clients Australia wide, we often engage local licensed business agents to help us with the sales process. We still manage the sales, but your local agent attends the inspections and offers additional local assistance and advice. This means you get the best of both worlds – the extensive industry-based experience of Ascent Partners to ensure accurate appraisal, preparation, marketing, matching and networks, and the local agent's on the spot, personal service and business sales expertise.
As well as all the services provide in the Business Matching Service detailed above, this Business Sales service offers:
- Liaising with purchasers – they deal only with us as your agent, not directly with you, unless you agree. This allows you to continue to run the business while you rely our expertise to manage the prospective purchasers
- Attending site visits and meetings between you and prospective purchasers
- Providing regular feedback on the market and prospective purchasers
- Discussing offers and negotiating the deal – discussing terms, analysing deals, recommending and advising
- Advising on transition periods, staff entitlements, transferring of leases, deal structures
- Helping you through the process of dealing with lawyers, accountants, financiers and landlords
- Handling legal briefings to enable contracts to be prepared
- Holding of deposits in our trust accounts
- Assisting you throughout the due diligence process
- Providing assistance and advice in settlement
This is not a definitive list, of course. Every deal is different and there are many issues to consider throughout the sales process. Our role is to sell and settle the business as seamlessly as possible, while allowing you to run your business as normal.
We understand it can be an extremely stressful period for you as a vendor. We will work with you, as a trusted advisor, to help overcome the hurdles and issues that often arise in business sales, so the stress is minimised. As your agent, our job is to work on your behalf and negotiate the best deal.
FEE STRUCTURE
Our fee structure is the same as with our Business Matching service, with the addition of a success fee.
Conditions for Acting as a Sales Agent
We only work as the sole sales agent, although this may be in conjunction with a local licensed business agent. Sole Agency agreements must be a minimum of 120 days
