If you would like to explore further a partnership of this type, the following are the basic steps in the process:

  1. Preliminary Conversation – We would appreciate the opportunity to visit with you at or near your location, to learn more about your company and its long term objectives.
  2. Confidentiality Agreement – Prior to a visit or divulging any sensitive information, we would sign a mutual confidentiality agreement, to protect the data that might be provided by each party.
  3. Preliminary Data Request – In order for us to provide you with an informed opinion of a possible partnership structure and a preliminary range of value, we will ask that you provide us three full years of historical financial statements, plus the most recent projections for the current year. It would be helpful if you could also provide us with clarification on any possible non-recurring costs or other items that might impact the financials. We will also request preliminary operating data, including your historical mix of revenues by service line, number of employees and primary mix of customers, by type.
  4. Offer and Letter of Intent – If it appears there is mutual interest in a transaction, we would prepare a specific offer and a proposed letter of intent, outlining the details of the transaction.
  5. Documentation and Final Due Diligence – Subsequent to an agreed letter of intent, we would move to complete the detailed legal documentation and the final operating, financial and legal due diligence.

While each situation varies significantly, it is generally possible to complete the transaction process within 120 days from the time of a first meeting, although that will depend on a number of factors, including the availability of the needed information.