Chapter 12 - Working with Advisors
Buying a business is one of the biggest challenges a person may undertake in their life next to getting married and having children. It may also be one of the most complex, yet most people who own businesses only do this once or maybe twice in their careers. Due to this, working with professionals that specialise in the business sale process can make the business sale journey a lot less stressful with a better outcome. Buying a business is a team sport which needs a group of strong professionals to support clients during the process. The following are advisors that generally make up the team on the Sellers side: Merger & Acquisition (M&A) Advisor – Sort of the quarterback that coordinates the process from beginning to end. We will structure the transaction, manage to post Heads of Terms process through closing, support the client's interests and keep everyone including the Buyer and Seller, together and calm when things get stressful and bring the champagne on closing day! Business Lawyer – Their main role is to draft the legal contracts once due diligence is complete, the main document usually being the Share Purchase Agreement and about 15 other ancillary documents. They will also typically perform legal due diligence and may even be asked to advise on the Heads of Terms early in the process.
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