A Roadmap to Closing the Deal When Selling a Business

hosted by: David Mariano, Director and head

of the firm’s Buy-Side advisory practice

A Roadmap to Closing the Deal When Selling a Business

You may have a signed letter of intent with a great buyer, but it’s not time to break out the champagne yet. This is the time to keep the process moving and remain focused on getting the deal closed.

Mark Filippell, a founding partner of Western Reserve and author of The Mergers and Acquisitions Playbook, joins us today to discuss how to get a deal closed. The closing process doesn’t have to feel like a runaway bus ride – use this conversation as your roadmap.

Key questions in this episode:

* How much time can pass between the letter of intent (LOI) and closing?

* How many different people can be involved with a closing?

* Under what kind of circumstances would negotiating dynamics start reversing and what can I do to prevent it (at 05:15)?

* How can a business maintain its financial performance during the transition period?

* How many LOIs are successful in closing after they are signed?

* Has the level of diligence changed over the years?

* When negotiating, which are the more challenging sections of the purchase agreement (at 12:48)?

Key points in this episode:

* Beware the “hosing at the closing.”

* How and when the negotiating dynamics change.

* The importance of disclosure.

* How the digital age has contributed to the complexity of the purchase agreement.

* One of the best regulations to come out of Washington.

* What to do when you suddenly realize you’ve been negotiating with the wrong buyer.

Resources mentioned in this podcast

* Click here for access to training and templates

* The Mergers & Acquisitions Playbook, by Mark Filippell

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