BUSINESS $1MM over asking

Our Client

Our client is an Executive Search and IT Staffing company who has helped staff and work with some of the largest companies in their industry. One of the main partners of the business had recently left around two years ago to pursue other interests and opportunities, leaving the other business partner alone to either grow the company or sell it to other interested parties.

*To protect client confidentiality, we’ve blinded this client’s name throughout the case study


Growing a company without a complete leadership team is arduous, so this solo business partner had a tall task in front of them if they wanted to see the business grow and flourish. They had been hovering around $1MM adjusted EBITDA for the past few years and needed more resources in the form of a partner/buyer to accelerate to the next stage. The business owner had minimal experience in the world of mergers, acquisitions, and selling a business, so they required a lot of hand-holding and step-by-step guidance to navigate the process successfully.

Solutions Implemented

Our team at GillAgency engaged in multiple conversations with potential suitors who ultimately estimated that the business would be worth at least 1X the adjusted EBITDA, but our goal was to earn more for our client. So, we launched a detailed process to get their business listed and available for sale on the open market.

Our other solutions included:

  • We updated the Confidential Information Memorandum on an ongoing basis with questions and answers from potential buyers to keep the document alive and relevant.
  • Set up in-person meetings for our client to travel and discuss the business with potential buyers.
  • Negotiated on our client’s behalf to find the best possible final sale price acceptable to both parties.

Along the way, we had several offers come in that were very close to the asking price. Still, we advised our client that with the proper tactics, patience, and strategy, we could negotiate more favorable terms, find a better buyer, or even help the client maintain equity in their business throughout the process. We determined that the best buyer available was an acquaintance of another buyer already in the GillAgency database, so we leveraged our connections and industry expertise to introduce our client and the buyer to get to the final stage.


95% of the buyers we engaged with throughout the process were extremely well qualified and able to produce their own funding for the acquisition. These businesses included strategic buyers, holding companies, private equity firms, and high-net-worth individuals.

Ultimately, we eventually settled with a strategic buyer at a price that included restructuring and stabilizing the two arms of my client’s business with an earn-out for upside potential. My client received an employment contract and an option for equity at a future date, all of which were part of his desired exit strategy. This particular buyer became seriously interested in the purchase after the GillAgency team demonstrated my client’s wide variety of clients, revenue streams, and obvious upside for cross-selling and upselling opportunities.

Because of our involvement in the transaction, we reduced the number of due diligence items and completed the process in under two weeks. Contract negotiations took another two weeks, and we successfully closed the final deal. The company sold for $1MM over asking, taking seven months total to complete from the time we listed. Another successful transaction, thanks to the GillAgency team


Tom Taft

Executive, Laurel Group

Sundeep was fantastic to work with from the start. He brought me a dozen plus interested buyers to the table and worked aggressively to push the process. We received multiple term sheets and finally chose a company that was in the right geography, the right size, and the cultural fit was spot on. I would highly recommend Sundeep to any company looking to sell their business.