The focus client provided custom software development solutions for a large conglomerate of buying groups. They are a global leader in custom software development and technology consulting that solves complex business challenges through enterprise web and mobile solutions.
*To protect client confidentiality, we’ve blinded this client’s name throughout the case study
We are a boutique, commission-only business brokerage firm dedicated to providing our clients with fantastic exits, one business at a time. Compared to typical brokerage firms that work on hundreds of concurrent listings, our team is highly selective about the companies we choose to work with.
As a result, we can deliver phenomenal results and outcomes to the businesses we partner with. We serve all industries, but our primary focus is technology, manufacturing, and distribution. Our team boasts over 50 years of combined experience in buying and selling businesses.
The client’s business was owned and operated by two partners who decided to pivot their time and focus on their preferred passion projects, all centered around cryptocurrency and the blockchain. It was evident that they didn’t have enough bandwidth to support the demands of running a successful software company while simultaneously pursuing their other passions, so they wanted to explore the idea of selling their business.
Because our client had a significant number of offshore and onshore employees, their goal was to find the right buyer or investor who would be committed to keeping their company culture alive. So, they approached our team to help them navigate the process.
Our team began by having a kickoff conference call with our client’s team to align on goals, details about the company, employees, infrastructure, current financial status, and any other essential items we needed to know about. We discussed the past growth of the company as well as future growth plans, who the potential buyer could be, if they are willing to do any owner financing, and what the transition time would look like. After careful review and research, we provided a Broker’s Opinion of Value that was in line with the owner’s expectations.
Our other solutions included:
- Creating a confidential information memorandum (CIM) to give potential buyers a detailed first impression of their business before meeting the selling company in person.
- Putting together a blind teaser for the company to introduce their business to potential buyers. A well-written teaser is essential in the M&A process as it keeps the Buyer’s interest and can facilitate continuing the steps to a final deal.
- Creating marketing and financial documents to help with the go-to-market strategy
After getting owner approval on all of these materials, our team started to publicize the availability of their business. We advertised the company on over twenty sites, including social media platforms, and distributed the teaser to all our buyers in the GillAgency database. These buyers include private equity firms, high net worth individuals, strategic buyers, first-time buyers, family offices, holding companies, and C suite of private and public companies.
Within hours of us going to market, we started receiving a lot of inquiries from both our database of buyers as well as new external interest. Because our client’s business was very lean and didn’t have a lot of overhead, they were a desirable option for strategic buyers interested in acquiring businesses like theirs. We fielded and vetted many buyers after they had a chance to review the CIM (after they signed an NDA) and ultimately helped our client sell their business much faster — and for far more money — than initially anticipated
GillAgency helped us sell our business with a much higher value than we had hoped for. What impressed us most was how patient, methodical and aggressive they were with buyers, attorneys, banks and even accountants. Within hours of listing the business in the way they told us, we got leads and in a week we had 2 offers. They stayed with us all the way to the end as we sold our business … I highly recommend GillAgency and their team for any business buying and selling needs that you may have. They are not pushy and because they operate only on commissions, you can be rest assured that they will always give you the right advice. Thanks so much for all that you did for us that changed all our lives.