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Buying a Business: Closing the Deal
Buying a Business: Closing the Deal
hosted by: David Mariano, Director and head
of the firm’s Buy-Side advisory practice
Buying a Business: Closing the Deal
When buying a business, closing the deal requires a delicate balance of efficiency and risk management. You want to avoid deal fatigue for all parties while giving yourself enough time for diligence.
David Mariano and David Dunstan continue the series on making acquisitions by discussing what it takes to get a deal closed. It often doesn’t make sense to drag out the process for either party, but the buyer needs sufficient time for diligence.
Key questions in this episode:
* As the buyer, do you want to move quickly or slowly?
* Is it important to communicate regularly with the seller during the closing process?
* What are some of the best practices in terms of an effective closing process?
* What happens when the assumptions that were built into an offer letter do not check out?
* How does a business owner manage risk versus rewards in terms of timing?
* How firm is price from letter of intent to close?
* Why is it important to develop relationships with professional advisors?
Key points in this episode:
* Why it’s important to balance timing and due diligence.
* When it’s time to curb your enthusiasm (hint: never).
* How to communicate effectively with and share diligence with the seller (4:47).
* Why buyers should share their timeline with a seller once the deal is accepted.
* How the nature of the business (industry, growth stage, etc.) can effect your timing.
* Some essential things to factor into the transaction process.
* Why it’s important to include certain assumptions in an offer letter (12:45).
* How to avoid last minute issues (like working capital).
* Why it’s important to assemble the right internal and external teams to assist in the diligence process.
* Assembling a team make this process the most efficient for you (and the seller).
Resources mentioned in this podcast
* Click here for access to training and templates
Listen to Fully Invested below:
View all episodes
Buying a Business: Closing the Deal
hosted by: David Mariano, Director and head
of the firm’s Buy-Side advisory practice
Buying a Business: Closing the Deal
When buying a business, closing the deal requires a delicate balance of efficiency and risk management. You want to avoid deal fatigue for all parties while giving yourself enough time for diligence.
David Mariano and David Dunstan continue the series on making acquisitions by discussing what it takes to get a deal closed. It often doesn’t make sense to drag out the process for either party, but the buyer needs sufficient time for diligence.
Key questions in this episode:
* As the buyer, do you want to move quickly or slowly?
* Is it important to communicate regularly with the seller during the closing process?
* What are some of the best practices in terms of an effective closing process?
* What happens when the assumptions that were built into an offer letter do not check out?
* How does a business owner manage risk versus rewards in terms of timing?
* How firm is price from letter of intent to close?
* Why is it important to develop relationships with professional advisors?
Key points in this episode:
* Why it’s important to balance timing and due diligence.
* When it’s time to curb your enthusiasm (hint: never).
* How to communicate effectively with and share diligence with the seller (4:47).
* Why buyers should share their timeline with a seller once the deal is accepted.
* How the nature of the business (industry, growth stage, etc.) can effect your timing.
* Some essential things to factor into the transaction process.
* Why it’s important to include certain assumptions in an offer letter (12:45).
* How to avoid last minute issues (like working capital).
* Why it’s important to assemble the right internal and external teams to assist in the diligence process.
* Assembling a team make this process the most efficient for you (and the seller).
Resources mentioned in this podcast
* Click here for access to training and templates
Listen to Fully Invested below: