Tips For Buyers
What Every Buyer Should Know
In the current market, it’s common for manufacturers to receive multiple offers for their business. For most retiring manufacturing executives, the transaction will be about more than money. Sure, they want a good price to help them fund retirement, but it’s also about their legacy. Our clients want to know that the company they built with their blood, sweat and tears will live beyond their involvement.
Our sellers want to know that the employees who helped make them successful will not just have jobs, but have opportunity. Continue reading below on how to make yourself stand out from the crowd.
Dealing With A Broker:
M & A professionals waste an inordinate amount of time weeding out tire kickers and competitors trying to find out whom they have listed, (a special kind of jackass). As a buyer, you may be reluctant to share your information with a broker before you’re sure you want to buy a particular listing.
Accelerated Manufacturing Brokers, Inc., is contractually obligated to know who we’re dealing with and fully vet them both professionally and financially before disclosing whom our client is. It’s an obligation that we take seriously.
If you’re at the beginning of the process and not sure where you want to land, that’s fine. We can still help you, but we expect you to give us the information necessary to help. Here’s what we look for:
Meeting The Seller:
Whether you have manufacturing experience or not, there are certain rules of etiquette when meeting the Seller. As you speak with an owner and tour the facility, you will undoubtedly see things that you would change and/or do differently.
Many of those changes are how you will bring growth to the business that you buy. You may be smarter and have better management and communication skills than the Seller. Don’t be a jackass. Rudeness is not skill. It doesn’t matter how you think you can improve their business, it’s their business.
You might have an MBA from Harvard, but this guy may have built a business that supported families over the course of 50 years on only a high school education. Be respectful or you might not get to the next step. Here’s what manufacturing business owners want to hear from you:
Submitting An LOI For A Manufacturing Business:
Your offer should have certain components to help you stand out from the crowd. As you consider these components, put yourself in the shoes of the Seller and ask yourself how he or she will feel as they review your offer:
All About Relationships
For the Accelerated Manufacturing Brokers team, this is all about relationships. We’ve made life-long friends of some who have purchased businesses through us. We stay in touch and cheer their success. We’re starting to sell some of the same businesses we sold to buyers over the years. Being entrusted to sell the same business twice is the ULTIMATE COMPLIMENT, and one we’re honored to receive.
Moving To The Top Of The List - Buy-Side Engagements
At Accelerated Manufacturing Brokers, Inc., the bulk of our work is with sell-side engagements. Of course we always try to help the buyer who looked at a listing and didn’t find it appropriate. However, some buyers want speed. They want a broker who they know has experience in a particular sector, and work directly for them to find the perfect acquisition. Yes, we can do that. Contact us to learn about speeding the acquisition process with a buy-side engagement.