Searching for a takeover candidate
Internal follow-up or external buyer?
In many companies, it takes far too long to search for a takeover candidate or to prepare the follow-up adequately, both at management and owner level. Sooner or later, every company will be confronted with this question, when a potential takeover candidate presents himself or when a key person dies unexpectedly.
Anticipating the succession is even more crucial in family businesses, because of the emotional and family ties between the different generations or when there are tensions between the potential successors or between the active and inactive shareholders.
The financing of the acquisition must be feasible and must not be at the expense of the future of the company.
If the internal monitoring is not possible, or if the positions cannot be reconciled, it can be examined whether it would not be better to look for an external buyer.
Deminor has a team of financial and legal experts with unique expertise and experience in the preparation and guidance of the internal follow-up process or in the search for an external candidate acquirer.
Each process of search for a takeover candidate is tailor-made and depends on the phase the company is in.
This is followed by the successive steps in which Deminor can guide you. In some cases, Deminor’s intervention only starts with the execution phase.
|Step 1||Analysis of the company and its shareholder structure|
|Step 2||Individual and/or group conversations with all parties involved to make an inventory of the various scenarios and issues to be addressed|
|Step 3||Synthesis of the views and proposal of approach and roadmap|
|Step 4||Establishing the agreements with a view to the further process|
|Implementation by internal follow-up||Implementation by an external transferee|
|Step 5||Preparation of a business plan (multi-year plan) and objective valuation. Analysis of the internal data room and drafting of the due diligence for the successors.||Preparation of a business plan (multi-year plan) and objective valuation. Preparation of the data room and due diligence for external candidates. Preparation of sales memorandum and list of potential candidates.|
|Step 6||Drafting of an acquisition plan (method, financing, internal operation and agreements, inheritance arrangement, etc.).||Contact with the potential acquirers, deliberation and negotiation of the acquisition proposals.|
|Step 7||Presentation and negotiation of the plan with all parties involved.||Preparation of all acquisition documents up to the closing of the sale.|
|Step 8||Elaboration of the acquisition, signing of the agreements and closing.|
In respect of the confidential nature of the files, references are only available on request.
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