Page 31 - Wealth of Experience - Selling a Business 2019

CASE STUDY – DONNA COPE

A HIGH PRESSURE

ENVIRONMENT

The sale process was a The due diligence was extremely
time where we had to thorough. There were a number of
knuckle down and focus, areas we had to address and issues
to resolve. We were really grilled on
getting everything in order everything during the process. We
- accounts, finances, even had to seek legal counsel on a
you name it! As Finance particular issue that was raised.
Director, there was a lot What would I do differently? Sort out
of responsibility with me the issues that I knew would come up
to ensure we were ship in due diligence before the process
shape. Working until 4am began. Had
to come in and do it again we had been aware that we were
the next day was draining. going to sell in a few year’s time we
definitely would have made different
In earlier years we were regularly business decisions. Planning is key to
approached by the big players in our the whole process. We should have
sector, looking to acquire us. For the had selling at the back of our mind for
most part we weren’t interested in years before.
selling to them. That all changed when
we were approached by a private
equity firm. “Planning is key to

During the sale, everything becomes the whole process.
increasingly important, tight deadlines We should have had
can lead to a few stressful situations. selling at the back of
Relationships change and can be our mind for years.”
put under pressure. From a personal
point of view, however, it was a great
opportunity - when times are hard you
really grow.
That said, if I was going to give
When you’re doing the due diligence sellers one piece of advice I’d say
and going through the sales process, be prepared to work hard and try to
sometimes people can lose touch with do it all with as positive a frame of
reality and get too focussed on the mind as you can muster. It’s a time of
overall outcome. excitement as well as hard graft.

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