Mergers, Acquisitions, and Successions
Mergers, Acquisitions, and Successions
Framing your business merger and acquisition strategy or starting your family business succession planning is a big deal. You have spent years building your business, it is not a simple and passive transaction and at MNCLS, we understand that. We know the connection you have formed with your business, that’s why we want to help you make the most of your next step, whether that’s a business merger, acquisition, or succession.
If you are selling your business, we help plan your long and short-term strategy to position your company to have the most value. If acquiring a business or joining as a partner, we help navigate that process so it is straightforward for all parties. We help handle all the details, such as past or ongoing project liabilities or worker’s compensation, so you can cleanly exit or acquire the business. Since we offer a legal and business perspective, we know what questions to ask and what problems to avoid so your business merger, acquisition, or succession capitalizes on the value you’ve spent years building.
MAKE SURE YOUR BUSINESS GETS THE VALUE IT DESERVES
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Implementing a clear business merger
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Navigating the small business acquisition process
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Developing business succession plans
PROCESS
What is our process?
We want to understand what you want from your business. For transactional issues, what are the important issues that need to be addressed in the document we are drafting? For disputes, what is the desired resolution or outcome?
Step One: Understand your business
For transactional, what have the parties agreed to and has agreement been reached on all the key issues? For disputes, we need to know whether the contract addresses the issue, how it was addressed, who’s at fault, and what damages resulted.
Step Two: Outline the issue
Implement the developed plan, approved by the client, that repairs or fixes the transactional or dispute issue to reach the goals and outcomes you define as success. Each solution is personalized to the needs of individual businesses.
Step Four: Carry out the solution
For transactional, create a personalized document that addresses the issue that matches the standard of your business. For disputes, we use the contract to determine who is accountable and gather facts to fill in the contract gaps.
Step Three: Develop the plan
Common Issues
Selling your business can be a difficult process that requires an in-depth business exit strategy. If not thoughtfully planned and executed, it risks future business problems including large financial issues. We have helped numerous contractors and other business owners with business transactions, from selling between partners to planning business succession to children, and we understand not only the legal consideration but the emotional and business factors as well.
MERGERS, ACQUISITIONS, AND SUCCESSIONS
Using our business background, we can provide a ballpark idea of how much your business is worth. The bottom line, your business is worth what someone else is willing to pay for it. From suggestions for “facelifts” that increase the value to getting a business valuation from a business valuation professional, we can help implement a business exit strategy that builds the value of your business for selling.
Typically, we recommend starting your exit planning three to five years in advance. There are countless items that you need to prepare, such as accounting documentation, that will enhance your selling power. We’ll help you decide whether your business needs “a simple coat of paint” or “a major facelift” to achieve the sale price you expect to receive. The goal is to have the business transition be as efficient as possible while realizing the full value from the business you’ve built.
The act of giving part ownership to another individual is a complicated situation. It means giving away, forever, all or a part of the control of your business. Forever. It requires entrusting power and authority to the employee or employees over your business which is a significant business decision.
We can help you evaluate your options for rewarding your employees that are best for your business. If sharing ownership is the best option, we can make that happen. If you are looking for a creative way to share profits and entice key employees not to leave without sharing ownership, we have options for doing that, too.