When selling a business, not all investors are created equal. Some are “tyre-kickers,” exploring opportunities with little intent or capacity to close a deal. Others are motivated investors who are serious, financially capable and strategically aligned.

A quality M&A process is what separates the two, ensuring owners spend time with the right investors and ultimately secure the strongest outcome.

Preparation Builds Confidence
Motivated investors are attracted to businesses that present well. A structured process supported by robust financial analysis, a professional Information Memorandum gives them confidence from the start.

It’s more than packaging data. It’s about showcasing the business and its unique strengths, positioning it within the market and presenting financials that reflect true, sustainable profitability.

Confidential Marketing Protects Value
Confidentiality is critical. Carefully crafted confidential marketing materials, qualifying investors and strict approvals ensure sensitive details are shared only with qualified investors.

This protects your business, builds trust and signals professionalism. Motivated investors respond positively to processes that are clear, disciplined and secure.

Competitive Tension Unlocks the Upside
The real power of a quality M&A process comes when multiple motivated investors are engaged at the same time. This creates competitive tension.

Rather than negotiating with a single party, owners can weigh multiple offers against one another. Investors know they aren’t the only option and that awareness often pushes them to sharpen their price; improve their terms and move faster to secure exclusivity.

Strategically aligned investors can achieve revenue and cost synergies e.g. by access to new products, services or technology that can be cross leveraged into complementary distribution channels.

A well-managed competitive process prompts investors to put their best foot forward, driven by the risk of losing a strategically valuable opportunity to a rival bidder.

This competitive dynamic doesn’t just protect value, it can significantly increase it, often adding a premium to the final transaction outcome.

Motivated investors don’t just appear. They are the product of a disciplined M&A process that combines preparation, rigorous screening, broad market reach and well-managed negotiations.

For business owners, this not only avoids wasted time and risk, but also create the competitive tension that maximises value and secures the right deal, on the right terms.

The stakeholders in a business sale or purchase transaction have differing needs and concerns. Understanding these needs is crucial for making correct decisions. For individuals who may have never before purchased or sold a business, a fireside chat is often useful to explain how the process works. Here are some observations covered in the fireside chat.

Needs
Normally, buyers and sellers have an overriding need to achieve an outcome and prefer that this be done as safely as possible. Typically, a lawyer and accountant are employed to advise on how to make the transaction as safe as possible, to optimise the structure of the transaction for tax and other factors and to help bring about the deal.
The M&A Advisor may be expected to find the buyer or seller and to facilitate the transaction, including identifying and qualifying purchasers, coordinating discussions, managing negotiations and achieving a result. This aligns their goals with those of their client, who also has an overriding wish to achieve the outcome, provided the degree of commercial risk is acceptable. The seller and buyer usually have more to gain from the sale than all their advisors, so inevitable compromises are made to reach a workable (win-win) outcome.

Basis of Appointment of Advisors
How advisors are paid encourages them to act in an appropriate and predictable way. Lawyers and accountants normally charge for the time they spend on a project, not according to the outcome. This is logical as their assistance is needed in making the transaction as safe and well-structured as possible.
Brokers or M&A Advisors are usually appointed and incentivised by either buyer or seller to achieve a specific outcome and are paid according to the result. It is natural to expect they will be keen to succeed.
The key is to ensure working with an M&A Advisor who looks for win-win outcomes and whose business relies heavily on referrals from clients, buyers and their advisors and who takes a long-term view of all relationships. Divest Merge Acquire does, as our ‘Testimonials’ confirm.

Lawyers
Lawyers, for both buyer and seller, must protect their clients, themselves and their business.
This is best done by pointing out all the possible pitfalls in the transaction and where appropriate, advising against proceeding if this is likely to be compromised.
This is logical and reasonable in today’s litigious world, where lawyers, in particular, have become both the perpetrators of and also the victims of, this higher risk world.
They want to protect their clients so they are less likely to turn on them if something goes wrong later. Note – they do not have an overriding need to see a transaction take place, as this theoretically increases their risk. Most lawyers would prefer to act for the seller rather than the buyer, as there is inherently less risk to a seller in a business transaction.

Accountants
Accountants are in a similar position to lawyers regarding risk, although they are generally closer to their clients because of more regular consultation on ongoing accounting and related business activities. They may have known their client for many years and assisted with how the business has developed. They will naturally want to see the best possible outcome for their client.
This can manifest itself in an optimistic valuation for a selling client and a conservative valuation for a buyer. While both positions can be justified, they may result in unrealistic expectations for their clients.

Make it Clear to Advisors What is Expected of Them
There is no such thing as a perfect contract. Usually, making it perfect for one party will ruin it for the other. Communication, motivation, and common sense are required for an outcome to be possible. The best accountants and lawyers do much more than point out problems, which is a relatively easy thing to do. The most valuable advisors point out the problems and then offer solutions!
There have been stories about lawyers prolonging disputes to increase their fees and accountants obstructing transactions to retain their clients. However, there is rarely any evidence of these selfish motives. The vast majority of professional advisors act in good faith and with appropriate competence.

Focus on the Outcome
Always keep the focus on the long-term goal. All stakeholders to the transaction, for both buyer and seller, share a strong desire to be able to look back and see a good overall result for everyone – buyer, seller, employees, financiers, lawyers, accountants, M&A Advisors, etc.
Staying focused on the outcome will help keep perspective when negotiating individual aspects of the transaction and counter the tendency to be drawn into point-scoring during the negotiation, which makes one lose sight of the big picture.

Some Further Tips for Navigating Transaction Issues
Practically speaking, there is no such thing as a risk-free transaction. People buying a business are knowingly entering into the world of commercial risk. Those selling already live every day with business risk. The sale transaction is no different from all other transactions the parties deal with.
If a lawyer is asked, “should I do X?” their default response will be “NO.” The lawyer has nowhere to go here but ‘No’ unless this is a risk-free outcome. If asked, “If I do X, then what might the consequences be?” this gives the lawyer the opportunity to provide some useful commercial advice.
One could also ask what they would do if they were in the same shoes. Lawyers are commercially astute, so give them the opportunity to help without the risk of turning on them if it doesn’t work out. In many situations, lawyers may write to their client advising them not to proceed with a particular situation. They would do this to protect their clients and themselves, but may fully expect the client will proceed anyway.
The interesting thing is that both the buyer and seller are obtaining advice according to these same guidelines. It is therefore likely that, with each lawyer striving to make the transaction ‘risk-free’ to themselves and their respective clients, the default outcome is for no transaction to occur!

In the end, accountants and lawyers know that a commercial decision will be made. They expect this and would be surprised if an attractive deal is pulled back from, even if it contains commercial risk. Generally, the more experienced at business one is, the better they can discern and rationalize the advice received. Seasoned business people who know the ropes often relegate advisors to less prominent roles according to their specialised expertise. Inexperienced buyers and sellers will tend to rely entirely on their advisors. In some cases, the accountant and lawyer find themselves being relied on for commercial advice where they may not be qualified. This may increase their risk and therefore force them to be even more conservative.

Imagine being one of 200 passengers on a flight starting the rumble down the runway and readying to launch into the skies. Relaxation comes from knowing that the flight is in the hands of very capable, well-trained and supported pilots. Comfort is found in the knowledge that, although they know their routine, they do not rely on memory and skill alone; they also work to checklists.
Pilots use checklists for two reasons:

1. They are trained to do so instead of relying on memory.
2. Checklists have proven time and time again that they work.

Over the last 40+ years, aviation has undergone a radical cultural transformation. This transformation has been a critical shift in the industry to where safety has become the number one priority. Checklists were developed for flight crews in the 1980s. Using checklists has made a significant difference in aviation, despite an overall increase in air travel, aircraft accidents have remained on a steady decline.

The most dangerous part of any flight is landing, with nearly half of all fatal aviation accidents occurring in the last fraction of a journey.
As a passenger, taking stock of the situation and relaxing in the thought that the flight is still in the hands of competent and disciplined pilots working through procedures and checklists brings comfort. The landing gear will be lowered, flaps set correctly and airspeed checked routinely, with the plane landing safely on the ground passengers are ready for the day’s business or holiday.

As an M&A advisor, the stakes may not be as high as life and death, but to clients and stakeholders, their livelihoods rely on competence, training, consistency and professional execution of the task entrusted.
Taking clients and their respective stakeholders on the journey to bring about the sale of a business involves ensuring nothing has been missed or overlooked.
Meticulous preparation of business documentation includes working through the financial statement preparation, normalisation adjustments, calculations and preparing for launch.
Every subsequent step in the process, piling on substantial resources by the advisor, the client and their other professional advisors, often amounting to hundreds of thousands of dollars of investment, will be built on and rely on the solid foundation work done at the outset.
When reaching the sharp end of the deal, the financials will sail through due diligence, the business has been accurately and fairly represented and the negotiated price will stand the rigors of audit and extensive analysis.
DMA’s hundreds of procedures, checklists and auto texts make all processes routine, lockstep and consistent across every process.
With more than 75 complex, large-scale sale and acquisition engagements in progress at any time, DMA’s team must rely on its well-trained staff adhering to their long-established yet constantly evolving and improving procedures and checklists.
Even when team members have been working in the business for 20+ years, they adhere to their systems and leave nothing to chance.
Procedures are an integral part of DMA’s daily routine and are updated regularly as improvements are made or new technology is adopted.
These procedures and checklists are very comprehensive and detailed, yet easy to work with and follow.
The financial statement processing procedures alone cover 19 pages, including 130+ steps and 75 sample queries regarding possible adjustment items, plus second and third reviews. All in all, thousands of items are completed and checked off one of the inter-linked checklist items before a project is finalised.

By having and adhering to detailed checklists and procedures from the outset, nothing is left to chance, missed, or done erroneously. Using these well-established protocols, the scope for mistakes or missteps is very low and the team proceeds with confidence.
It is exceedingly difficult to retro-install such systems into an organisation so they become the backbone of all activities. It is a much easier path to have these built in on establishment of the business. This culture has pervaded in the DMA team for 25+ years and all new team members quickly learn to appreciate the importance and uncompromising requirement to work to and maintain these systems.

These procedures extend to every incoming and outgoing email being saved to the central CRM/database, which forms the hub of all communications and processes. Client projects are managed through every one of hundreds of steps and sub-steps in the process assigned to each project and signed off by those completing the step.

In some instances, on arrival at DMA, experienced accountants and others may need to ‘unlearn’ habits acquired at other professional offices, including many of the big-name firms, where there has been a free-for-all on how things are done and accounted for.
DMA presents a significantly different world for most of them and they quickly understand the benefits of such a tight and coherent operation and learn to change their thinking and mindset of the standard to which they need to work so they do not let themselves or the rest of the team down. It can be a revelation as to how well things can operate once such a high standard is culturally welded into the fabric of the business.

Back on a flight – this time the going has been tough, gusty wind, in a fighter aircraft setting up for a night landing on a carrier’s deck heaving in high seas. Calling the ball and working hard to bring that baby home. Just need to know that the checklist included lowering the hook!

In M&A, there may be a few curve balls thrown up unexpectedly, and the going may be tough in stages. But safely through processes in place, clients safely land into retirement or into their new business venture, employees, customers, and suppliers all settle into the new regime, and it is back to business as usual.

Successful business owners, despite their expertise, may occasionally fall prey to a smooth-talking marketeer in areas outside their knowledge. It is easy to be misled by unscrupulous marketeers offering to sell businesses through various channels, such as magazines or to overseas buyers, often at inflated prices. However, avoiding these pitfalls is also straightforward.

When selling a business after many years of dedication, it is prudent to select the right advisor or broker by following a few simple steps:

1. Eliminate the Marketeers via Research 

Conduct online research on the names of any prospective advisory firms along with the name of the local consumer protection agency. In Australia, this is the ACCC.
This simple step will help rule out firms that regulators have already identified as problematic. Surprisingly, some of these firms still operate under different names and continue to deceive business owners daily.
It is frustrating for reputable operators to follow behind a marketeer after a business owner has invested significant amounts of money and more critically, lost 1–2 years before realising nothing will happen.

2. Consult a Trusted Business Advisor

This typically means consulting an accountant, who usually deals with M&A advisory firms in the course of their career.
If they do not know a reputable M&A advisory firm, they can easily tap into their business networks to find one or more.
Almost all clients are referred by their accountant, banker, lawyer, or a trusted colleague.

3. Contact the Firm and Speak to an Advisor 

Request information from the firm explaining the size and type of businesses they sell and their methods.

4. Evaluate Key Questions

Consider the following:
• Does the firm have a record of successful transactions of comparable size?
• Are the key advisors suitably qualified and experienced?
• Will the advisor personally oversee the project?
• Does the firm understand, respect, and manage client confidentiality?
• Does the firm hold the appropriate licenses?
• How does the firm source target purchasers?
• Will the firm professionally present the business opportunity?
• How well does the firm communicate with clients?
• How well does the firm cooperate with other professional advisors?
• Will the firm provide an indicative valuation before the client commits?
• Does the firm manage the full process to completion?

5.  Understand the Target Market 

Considering that 95% of businesses have fewer than 10 employees and only 5% are likely to be $3M+ businesses, it is important to choose a firm that handles either the 95% or the 5%, depending on where the business sits. This is crucial as they are marketed in very different ways.

For more information on these key questions,  visit this link How to choose an M&A Advisory firm: what to look for

Divest Merge Acquire’s (DMA) transaction advisory network is at the forefront nationally in the sale and acquisition of businesses in the $3M – $100M+ range.
DMA’s direct marketing system is so effective that it was previously utilised by other M&A advisory firms under a generic brand, MNA Direct.
This high level of utilisation ensures information is constantly being updated for investor preferences and requirements.
Here is a summary of DMA’s key advantages.

1. UNRIVALLED MARKETING RESOURCE ACTIVE M&A DATABASE – THE SPECIFICATION

• Developed to define market (Aus & NZ business with > 10 employees);
• Over 200,000 Contacts in 132,000 Companies specifically utilised and refined for M&A transactions
• Actively maintained and current
• Key data on each company and individual
• Categorised by relevant industry SIC Codes
• Online accumulated history and investment parameters for active investors

Advantages

• DMA’s targeted marketing reach is broad and deep
• The database enables DMA to readily identify and target prospective investors by particular industries, regions or groups
• Current, relevant data
• Ability to readily determine each target organisation’s M&A aspirations
• Unprecedented database accuracy and usefulness which increases with regular activity
• Approx. 70% of investors are sourced from DMA’s proprietary database, confirming it as the most powerful and effective of all of DMA’s marketing resources.

EFFECTIVE DIRECT MARKETING PROCESS

• Client marketing process includes marketing to (on average) 7,000 contacts, targeted by industry (SIC classification);
• Marketing activities deliver an average of 75 targeted prospective investors for each business opportunity taken to market.

Advantages

• Dramatically increases the likelihood of success and of competition among bidders;
• Accounts for more than 70% of all transactions completed by DMA

BRAND RECOGNITION

• 30,000+ subscribers to DMA’s monthly emailout
• 3,700+ connections/followers on Linkedin; and growing
• Regular targeted emails to database.

Advantages

• DMA is recognised as a leader in its M&A market
• DMA’s team has keen market focus and proven ability to get in front and stay there.

2. PROFESSIONAL NETWORK

TEAM OF EXPERIENCED AND QUALIFIED ADVISORS

• Experienced team of advisors throughout Australia
• Chartered Accountants and industry executives
• Dedicated marketing and administration support teams

Advantages

• Strong networks with professional buyer/seller groups
• Accumulated skills and experience across a broad range of industry sectors
• Ability to optimise all aspects of the outcome for clients

STRONG ACTIVE REFERRAL BASE

• Many active referrers are from professional services firms: accountants, lawyers, financiers, finance brokers and insurers; former clients, prospective investors etc.

Advantages

• Referrals from accountants, lawyers, financiers and insurers
• Creates a secondary network to match investors and prospective buyers and sellers of businesses
• Affirms the quality of DMA’s professional services.

3. REPORTING AND SYSTEMS DOCUMENTED PROCESSES

• Online tracking of client projects
• Documented processes for divestments, acquisitions and capital raising
• Over 150 activities grouped into stages for each process
• Developed from best practices accumulated over a 26-year period

Advantages

• High degree of client service and higher quality service delivery
• Leverage – steps can be completed by any admin/marketing team member
• High efficiency of service delivery

DETAILED REPORTING AND CLIENT MANAGEMENT

• Online sign off for work done by responsible team member
• Status of work flow and deliverables can be reviewed online at any time by team members
• Documentation of deliverables and work retained and archived
• User manual (including online access for Member Firms)
• Detailed reporting to clients of project status – online or periodic eg weekly.

Advantages

• Effective client project management and client service
• Ease of communication of status with client
• Closed file documentation on all engagements is retained for risk control but available as a learning tool (eg. industry knowledge, lessons learned
• High client awareness, confidence and retention.

EXTENSIVE TEMPLATES AND PROCEDURES

• Online user manual containing over 1,500 procedures, autotexts, templates and checklists.

Advantages

• Efficient, reliable and consistent execution of processes and activities.

When a client or colleague seeks advice on selling their business or sourcing acquisition targets, assistance is typically provided by referring them to those best placed to assist.
Without prior experience in the area, referring them to a suitable advisory firm that will best meet their needs can be quite challenging.

This article contains the key questions to ask of any M&A advisory firm.

EXPERIENCE

Does the firm have a record of successful transactions of comparable size?

• What is the value of total transactions the firm has advised on? This should preferably run into the hundreds of millions of dollars.
• What is the target enterprise value range of clients the firm has advised on? The largest? The smallest? What is the average transaction value?

CREDIBILITY

Are the key advisors suitably qualified and experienced?

• Does the advisory team include qualified, expert professionals with a wealth of experience in corporate advisory, business management and transactions?

PROJECT MANAGEMENT

Will the advisors personally oversee the project?

• Will at least one of the firm’s advisors be involved with the project, ensuring personal attention and backup?

CONFIDENTIALITY

Does the firm understand, respect and manage client confidentiality?

• Are processes conducted on a confidential basis, where discretion and sensitivity in marketing and negotiations are required to minimise risk and disruption to the business?
• Are prospective purchasers thoroughly qualified and are they required to complete a confidentiality agreement and investor registration?
• Is client approval sought before every purchaser receives further information about the business?
• How does the firm manage these processes? Is it done systematically, so all team members involved in the project must adhere to the procedure?

REGULATORY

Does the firm hold the appropriate licenses?

• Does the firm and its advisors hold appropriate licenses?

MARKETING RESOURCES

How does the firm source target purchasers?

• What marketing resources does the firm have access to?
• What ongoing costs will be expected to contribute?
• How will the firm contact target purchasers?
• How will the firm make non-target purchasers aware of the opportunity?

PRESENTATION

Will the firm professionally present the business opportunity?

• Does the firm prepare a sophisticated and comprehensive Information Memorandum (IM)? This is a pivotal element to marketing a business, as it is designed to provide purchasers and their advisors with sufficient information to make an initial assessment, as well as build their confidence to proceed with the acquisition.
• Does the firm, as part of its process, analyse the business for its strengths and potential and make recommendations on any aspects which could be improved to maximize the perceived value of the business to interested parties?
• Does the firm require the client’s written approval of the content of the IM?

COMMUNICATION

How well does the firm communicate with clients?

• Does the firm provide high levels of communication and advice throughout the sale process so clients can make informed decisions?
• Is the firm fast-acting and highly responsive in communication with clients and their other advisors, ensuring a smooth process to completion?
• Does the firm document all correspondence and events regarding the sale?
• Does the firm provide regular written and verbal reports of activity and progress, including details and status of every prospective purchaser?

COOPERATION

How well does the firm cooperate with other professional advisors?

• Are the firm’s advisors professionally qualified and do they work seamlessly with clients’ other advisors?

PRELIMINARY VALUATION

Will the firm provide an indicative valuation before the client commits?

• Does the firm provide an indicative valuation of each business before a client commits to proceed to market?

PROCESS TO COMPLETION

Does the firm manage the full process to completion?

• Qualifying Prospective Purchasers, to minimise risk and lost time: Do they assess purchasers’ ability to complete the acquisition and consult clients every step of the way?
• Questions: Do they coordinate the question and answer process to maintain protocols, confidentiality, accuracy, and documentation, as well as provide feedback and advice?
• Inspections: Do they coordinate and attend inspections and other meetings and make recommendations?
• Expressions of Interest evaluation process: Do they assess and rank offers? Assess capacity to finance the transaction? Assess the commitment and ability of interested parties to complete the transaction? Assess strategic fit?
• Negotiation and Completion: Do they capitalise on competitive tension? Focus on value drivers to improve price negotiations? Liaise with legal and accounting advisors? Assist with negotiating warranties, indemnities and guarantees? Assist with Letter of Intent or Heads of Agreement as appropriate?
• Due Diligence: Do they coordinate and facilitate the due diligence process, including establishing and managing virtual data rooms? Do they understand how the various components of working capital requirements interact, and can they map these out in detail?
• Contract terms: Do they understand the various key components and differences between share and asset transactions? Where appropriate, brief or provide the lawyer with a pro-forma Contract of Sale to save time and cost? Negotiate the commercial aspects of the contract of sale?

How Does DMA Measure Up?

DMA is an M&A advisory firm that meets or exceeds all the above criteria. Here are some examples of how:

• Most of DMA’s transactions are in the $3M-$100M+ range.
• DMA’s team consists of qualified, expert professionals with a wealth of experience in corporate advisory, business management, and transactions. They are complemented by an experienced, capable team responsible for the distribution of client marketing material and screening of initial responses.
• DMA and its Member Firms hold the necessary license appropriate to their home State.
• DMA’s database is the primary source of prospective target firms. The database covers all organisations in Australia with more than 10 employees and corporate, private and international investors, allowing it to readily identify and target prospective purchasers. It is understood to be one of the best sources of business intelligence available and is a key point of difference.

• Over 80% of purchasers for businesses have been sourced from DMA’s database or DMA’s website.
• DMA prefers to provide an indicative valuation of each business before a client commits to proceed to market.
• DMA manages the entire process, from start to completion.

FIND OUT MORE

DMA can provide a Divestment Proposal containing information to assist prospective clients in understanding more about the process.

Selecting an advisor for an event as significant as a business sale can often be a difficult decision. To assist in the process, we’ve put together a suggested checklist to adopt when conducting your ‘due diligence’ on an M&A advisor, based on some of the key questions we get asked routinely. Divest Merge Acquire’s credentials are included as a benchmark for comparison.

M&A REFERRAL CHECKLIST:

1. Experience
Does the firm have a record of successful transactions of comparable size?

• Divest Merge Acquire has provided advice on clients’ businesses totalling more than $550M.

• Most of Divest Merge Acquire’s transactions are in the $1-$50M+ range and the average transaction value is around $5-10M.
• Divest Merge Acquire is regularly appointed by private equity groups, local and overseas listed companies looking for acquisition targets in specific industries.

2. Credibility
Are the key advisors suitably qualified and experienced?

• Divest Merge Acquire’s team of advisors consists of Chartered Accountants and expert Industry Professionals with a wealth of experience in corporate advisory, business management and transactions.
• Our advisors are complemented by an experienced, capable team responsible for the distribution of client marketing material and screening of initial responses.

3. Management
Will the advisors personally oversee the project?

• At least two of Divest Merge Acquire’s advisors are involved with each project, ensuring personal attention and backup.

4. Confidentiality
Does the firm understand and respect client confidentiality?

• Divest Merge Acquire manages transactions under strict confidentiality, with the utmost discretion and sensitivity in marketing and negotiations to minimise risk and disruption to the business.
• Prospective purchasers (or buyers) are thoroughly qualified through a strict process. Before a clients identity is released, an investor registration form is completed along with a Confidentiality Agreement. Our team then research each respondent and prepare a summary report for our clients review and approval. If approved, the clients identity is released and an Information Memorandum is provided. These precautions minimise the risk to the business.

5. Regulatory
Does the firm hold the appropriate licences?

• Divest Merge Acquire holds an Australian Financial Services Licence (AFSL). This confirms Divest Merge Acquire’s status as a quality service provider and underlines its commitment to deliver the highest possible standard of advice and service.
• Divest Merge Acquire’s Member Firms are either authorised representatives or hold equivalent licences appropriate to their home State.

6. Marketing Resources
Where does the firm source most purchasers from?

• Divest Merge Acquire’s database covers all organisations in Australia with more than 10 employees, and corporate, private and international investors, stratified by Industry SIC codes. This allows us to readily identify and target prospective purchasers among key industry groups and demographics. More than $3 million has been invested in this asset alone. It is understood to be one of the best sources of business intelligence available and is a key point of difference.
• More than 80% of purchasers are either already on Divest Merge Acquire’s database or referred by those who are, including accountants, former clients, lawyers and financiers. The remaining purchasers come primarily from Divest Merge Acquire’s and other websites.

7. Presentation
Will the firm professionally present the business opportunity?

• DMA prepares a sophisticated and comprehensive Information Memorandum (IM). This is a pivotal element to marketing a business, as it is designed to provide purchasers and their advisors with sufficient information to make an initial assessment, as well as build their confidence to proceed with the acquisition.

• As part of the process, we analyse our client’s business for its strengths and potential, and make recommendations on any aspects which could be improved to maximise the perceived value of the business to interested parties.

• The IM requires the client’s written approval prior to release.
• The IM is issued to prospective purchasers only after they have signed a Confidentiality Agreement, completed an Investor Registration and have been approved by our client.

8. Communication
How well does the firm communicate with clients?

• Divest Merge Acquire provides high-level communication and advice throughout the sale process so clients can make informed decisions.

• Divest Merge Acquire’s fast acting and highly responsive communication with clients and their other advisors ensures a smooth process to completion.

• Divest Merge Acquire maintains documentation of key events regarding the sale.
• We provide regular written and verbal reports of activity and progress, including details and status of every prospective purchaser.

9. Cooperation

Can they work with us and other professional advisors?

• Divest Merge Acquire’s advisors are professionally qualified and work seamlessly with clients’ other advisors