Bernard Baxter is committed to providing an efficient, structured and professional approach to helping you buy a business. Please find below a series of steps that describes the end to end process of acquiring a business.
Business Acquisition Approach Step by Step
- You decide that you wish to acquire a business.
- You contact Bernard Baxter.
- A Bernard Baxter lead consultant discusses your objectives for acquiring a business.
- The lead consultant discusses our business acquisition service and process.
- You decide that you want to proceed with Bernard Baxter to purchase a business.
- A business engagement letter is then signed by you.
- Your business acquisition requirements are clearly and accurately defined which include industry, turnover, location, number of employees etc.
- Bernard Baxter drafts a business acquisition memorandum.
- Bernard Baxter undertakes market & database research to locate, approach and qualify business acquisition opportunities.
- Bernard Baxter provides and reviews a number of business acquisition opportunities with you.
- You decide which business acquisition opportunities that you would like to move forward with.
- Bernard Baxter obtains further information on the acquisition target, such as the annual accounts, asset list etc
- Bernard Baxter arranges meetings with you and the business acquisition targets, with a Bernard Baxter consultant in attendance.
- You decide on a business to make a formal offer on.
- A formal offer is made to purchase the business.
- Bernard Baxter manages all communication with the business acquisition targets.
- You appoint a legal representative.
- The acquisition target accepts the initial offer.
- You and your representatives perform performs due diligence on the business, which includes financial and legal due diligence.
- A Heads of Terms Agreement is drawn up by your legal representative.
- Further sales negotiations take place, with agreement on final purchase price and deal structure.
- A Sale & Purchase Agreement is drafted by your legal representatives then signed by you and the business seller.
- The Business acquisition has now been successfully completed, by Bernard Baxter effectively managing the business acquisition process.