Anatomy of a Letter of Intent

A letter of intent (LOI) is a documented handshake between a potential buyer and a potential seller that sets forth the principal points of the agreement. In this way, an LOI mitigates the risk that prolonged negotiations may not result in a closing. In addition, with transactions requiring financing, the buyer’s lender may require a […]

ESOP’s Fables: Fiduciary Concerns in Change-of-Control Transactions

Fiduciary Concerns in Change-of-Control Transactions Several years ago, corporate transactions involving employee stock ownership plans (ESOPs) grew tremendously. Yet, just as ESOPs became an integral part of the leveraging of corporate America, they got slammed by the same forces as domestic companies. Some ESOP companies prospered while others faded away, starved for more capital. Fiduciaries […]

Is an Equity Recapitalization Right for You?

Change continues to be a natural part of business. Does one or more of your partners want to exit, but you want to stay (or vice versa)? Do you want to unlock some of the value in your business, but continue to own a significant portion of it and enjoy the future upside? Or, do […]

Making An Acquisition The Smart Way

If you are a would-be buyer, you need to develop a well thought-out process that generates proprietary deal flow, minimizing your risk and maximizing your return on investment (ROI). The right approach will also enable management to continue focusing on its existing business; increasing your probability of acquiring the right company at the right price, […]

Managing A Business In Preparation Of A Sale

You might be thinking about retiring or pursuing other interests, or you might be young with lots of gas left in the tank. Regardless, it can take years to prepare a business for sale. So, if you are a business owner and want the process to be smooth and the fruits to be sweet, it’s […]

Taxing Considerations for Business Sellers

When selling your business, tax considerations play an important role in maximizing the cash return to you and the rest of the shareholders. Because Uncle Sam will penalize you if he doesn’t receive a share of the proceeds, it’s in your best interests to ensure he gets his due – but not one penny more. […]

Selling Your Business? Learn To Think Like a Buyer

You’ve built a great business with love and care. The business has grown larger than you’d ever imagined, and it generates a nice profit that has allowed you and your family to live a comfortable life. Now you’ve decided it’s time to sell. You assume there’s a buyer out there who will pay you a […]

Rethinking A Sales Strategy

Whether you’re thinking about a divestiture or a sale of your company, or if you’re in the middle of an operational turnaround or managing your business as usual, maintaining and growing sales are critical to your success. That’s why every business needs a disciplined approach to selling. One such approach is outlined by Robert B. […]