We act as consultants for business sale and acquisition transaction matters, either in a project management capacity or on an ad-hoc basis.
We typically provide business transaction advisory services for clients who require specific assistance with a component or components of a transaction, and when our advice is most economically beneficial in a consulting capacity, instead of as brokers acting on a success fee basis.
Clients often engage us to provide business transaction advisory services to assist with the potential sale of their business in circumstances where, for example, they may have been approached by a competitor who shows interest in acquiring their business, or where they may be considering selling an interest in their business to an employee. In each example, the buyer is defined at the outset. Hence, we typically provide ad-hoc advice for such matters in those areas necessary for our client to engage in negotiations for a potential sale. This includes valuation guidance, negotiations, preparing term sheets, providing guidance on the appropriate documents to provide as part of due diligence, and other relevant matters as needed.
Furthermore, clients considering acquiring a business or interest therein will commonly engage us to provide business deal advisory services to assist them with scoping and targeting potential acquisition opportunities, or providing specific assistance to negotiate the acquisition of a specific business. In such circumstances, our flexible ability to provide ad-hoc consulting services or to project manage acquisitions means our business transaction advisory services provide an efficient and cost-effective solution for our clients.
Our business transaction advisory services help clients to:
- Receive specialist advice on specific components of a business sale or acquisition transaction in circumstances where a full-service brokerage engagement is not suitable nor economical.
- Outsource those components of a business sale or acquisition transaction which clients wish to receive professional advice on, whilst managing some components of the transaction themselves or with the assistance of other advisors.
- Have no ongoing commitment to us beyond an agreed scope of work that we perform.
Groves & Partners has significant experience and expertise in working with business owners and their professional advisors to provide business transaction services, acting for both business sellers and acquirers for entire transaction matters and components thereof.
Our experienced team consists of Chartered Accountants, Registered Business Valuers and Registered Business Brokers. Most of our team have extensive experience at Big 4 accounting firms in disciplines such as auditing, taxation and restructuring. This experience means our transaction advisory services are backed by practical experience and strong technical rigour.
Our Business Transaction Advisory Process
We act in a manner that suits your specific needs. In doing so, we commonly provide transactional advisory services in an ad-hoc manner, touching only on those areas that our clients wish to receive advice on.
The nature of services we can provide as part of our provision of business transaction advisory are outlined below:
1. Initial no-cost review
We typically commence by meeting with you to understand the nature of your circumstances, and the nature of any transaction that is underway. In doing so, we will often review documents such as financial statements and correspondence between the buyer and seller. This review allows us to provide you with our preliminary views on the strategy that should be adopted for the transaction, and to discuss with you the scope of work that we can undertake.
2. Confirm scope of engagement and advise professional fees
Following the conduct of our initial review, we will advise you of our professional fees to undertake the component(s) of work we can assist with, and the scope of our engagement.
3. Information request
We will request further information as is necessary for us to provide you with the advice that you require.
4. Information review
We review the information provided in response to our information request, and ask further queries as necessary to enable us to provide you with advice on required matters.
5. Conduct targeting exercises, identify suitable acquisition targets, and confidentially approach acquisition targets
If required, with particular relevance to acquisition advisory clients, we can provide guidance on suitable potential targets for an acquisition. In doing so, we typically scope out suitable companies which represent a strategic fit for you. Thereafter, subject to your instructions, we can confidentially approach those targets on your behalf.
6. Drafting information memorandums
If required, we can prepare professional information memorandums and similar documents for use as part of a transaction.
7. Provide price and valuation advice
If required, we can provide you with advice on the appropriate price and value relevant to a subject transaction.
8. Prepare a non-binding term sheet and negotiate terms on your behalf
If required, we can draft a non-binding term sheet for use in negotiating a transaction. Oftentimes, clients instruct us to engage in negotiations with acquirers or sellers regarding these terms.
9. Managing due diligence and providing associated advice
If required, we can provide you with due diligence advice, and/or facilitate the conduct of due diligence.
10. Providing a sounding board
We are commonly engaged by clients purely as a sounding board for them as they navigate a transaction themselves. In such circumstances, we are available to meet with you as required to discuss queries and risks associated with the transaction.
11. Meetings and communication with you and your advisors
We typically conduct regular meetings with you and your other professional advisors to provide time-sensitive advice when acting on transaction advice matters.