TIDY
All businesses encounter legal, financial and tax issues during their lifetime but when considering any corporate finance process, these issues need to be identified upfront and, where possible, sensibly mitigated prior to a process starting.
TRANSEPT'S IMPACT
timing
Consider both macro and the micro circumstances when making a timing judgement.
On the macro-side, seek analysis on the economic backdrop and consider investor trends in the market for a particular asset class or funding structure.
On the micro-side, pinpoint the availability of financial information and where the business is in the delivery of growth plans.
Transept's Impact
team
Unless the management team are making a full-exit, then owners need to consider the experience and longevity of the existing management team in-place from a buyer's perspective. If there is a skills-gap or a key hire is yet to be made, then these factors should be weighed before going to market.
Family-owned businesses also need to consider their personal circumstances and the rationale for exit.