Buying a business
Grafting on: buying a business
Buying a business means joining your plans to something another owner grew. We make sure the join holds: what you’re buying, what you’re not, and what the seller still owes you after closing.
We usually act for the buyer. We read the seller’s books, contracts and leases before the price is final, write the purchase agreement, and stay on through the first months after closing, when the promises in it come due.
What a purchase with us covers
The letter of intent
Price, structure and the few terms worth settling before anyone spends money on diligence.
Due diligence
The seller’s contracts, leases, permits, employees, debts and tax filings, read with a list of what a lender will ask.
The purchase agreement
Asset or stock purchase, what the seller promises about the business, and what happens if a promise turns out untrue.
After closing
Assigning contracts and leases, the seller’s transition help, seller financing and any earn-out, followed through to the last payment.
What buyers ask before the letter of intent
Should I buy the assets or the company?
Usually the assets, so the seller’s old debts and disputes stay with the seller. Some businesses can only be sold as a company, because a license or contract can’t be transferred. We look at which yours is.
How long does a purchase take?
For a small business, often two to four months from the letter of intent to closing. Diligence and the lender set most of the pace.
Do you represent sellers too?
Sometimes, but never on both sides of the same sale.