About
Our Client
The focus client for this case study previously owned and managed a permanent staffing placement company that operated out of the Midwest. Our client’s company was run by two managing partners who wanted to shift away from handling the day-to-day operations of the staffing and recruitment industry. Consequently, they sought opportunities to divest and sell their stake in the business. One of the owners, who had been handling the sales initiatives for the company, was interested in completely exiting the business. The other owner, who managed the company, was seeking a minority stake and active role in the company when it eventually sold.
Challenges
Before contacting GillAgency, our client had unsuccessfully attempted to list and sell their business on the open marketplace. Despite garnering interest from around the world, they were inundated with requests for information from unqualified buyers. They simply didn’t know who to divulge confidential information to and whether or not it was even worth their time to set up meetings with potential suitors. With limited knowledge of the vetting, selling, due diligence, and closing process, they could not find a buyer on their own (especially one who fit their specific criteria of keeping one of the owners on board as a stakeholder and employee). Ultimately, they reached out to our firm to receive professional guidance and consultative services.
Solutions and Results
Prior to re-listing their business on the market, we walked the client through our detailed, thorough, and efficient vetting process to ensure any potential lead was qualified to make a purchase of this magnitude. We highlighted how we’d maintain confidentiality throughout the experience and would keep our client in the loop with any and all decisions along the way.
Over the course of eight months, we worked hand-in-hand with our client to locate the most appropriate buyer for their business. Considering their unique expectations of the sale, we always considered their primary goals throughout the engagement. We stepped up to address challenging or uncomfortable situations with potential buyers with complex requests or demands and never faltered in our objective to find them the best possible buyer. After receiving numerous LOIs, speaking to many highly qualified investors, and fielding multiple offers, we were able to raise the asking price of the client’s company to match demand and interest. Ultimately, our client chose an offer that best met the company’s and the owners’ individual needs.
We conducted the due diligence for the deal within 30 days as we mandated in the agreement, but the closing took extra time, which we did not anticipate. Regardless, we kept the ball rolling and ensured that all parties were communicated with and fully updated throughout the closing process. We successfully secured a job offer and minority ownership stake in the business for one of the two owners while allowing the other owner to free themself from the company altogether.
Our clients are incredibly pleased with the results achieved, and the strategic buyer is beyond enthusiastic about having acquired a very profitable company that fits their portfolio and business goals.
Tina R.
Owner
As co-founder of a direct placement recruiting firm based in the upper Midwest, I came to know Sundeep Gill through a founder of a well-respected firm also based in our geographical area. While I was skeptical of working with a broker at first, I found Sundeep's deep and vast knowledge of the M&A process to be reassuring and comforting when I had questions and concerns surrounding the process.
Kevin S.
Owner
I had the pleasure of working with Sundeep, who successfully brokered a large deal with a group of investors. Sundeep was highly committed and dedicated throughout the entire process. He set up so many high-quality calls with interested buyers that, at times, we would have four in a day. He attended each call, guiding us throughout the process. Sundeep has successfully secured many LOIs (letter of intent) from interested buyers/investors.
Sundeep also successfully managed a level of personal matter among the partners that bled into the business dealings. When we first got started, it was very easy. A couple of conversations, sent over some paperwork, and Sundeep provided a professional evaluation (what the company is worth).
As time went on, Sundeep raised the price based on responses. He pushed us and kept us on top of things when we because distracted. If you are looking to list a business or gain new investors, I highly recommend Sundeep. I also do my due-diligence and research, especially being a former law enforcement officer. Sundeep definitely checked out and checked all my boxes. The results proved my decision to go with Sundeep correctly.
