Bassetts Completion Review
|
Philip and Stephen Bassett |
|
When considering appointing advisors to the proposed sale, what were your main considerations and concerns?
|
|
We sought experience in the sector and an advisor who only worked for the vendor, plus we wanted a good personal relationship with/respect for the advisor. Our main concern was having a single point of contact and confidentiality.
|
| What were the determining points in deciding to appoint advisors? |
| As above but a strong recommendation was important |
| Overall, what was the level of responsiveness from your advisors? |
|
The speed of response was always good. The thorough approach of Alaris was a source of confidence to us throughout the process, even when the sale process hibernated for short periods.
|
| Do you feel that negotiations were managed to your satisfaction? |
| Yes – entirely |
|
After the Heads of Agreement stage of the transaction was reached, do you feel that the advisors continued to contribute to the sale process?
|
|
Very much so. At this point it was crucial to keep the sale momentum going while remaining firm with the purchaser. Alaris provided us with a solid point of reference to make sure that the sale process kept on course while at the same time ensuring that best value was achieved
|
|
Overall, were there any key areas where you feel your advisors particularly contributed to the transaction?
|
|
Yes. Alaris ensured the consistency of all information passing to the purchasers. Alaris also ensured that the quality of presentation was always high, however, I believe that their biggest contribution was made by ensuring that we were patient throughout the process.
|
| In retrospect, would you use advisors again to assist in the sale of a business? |
| Yes ~ without hesitation |
| Would you consider recommending us to other business owners considering a sale of their business? |
| Yes |
| Are there any additional points that you would like to make regarding your experience of working with us? |
|
I believe that having an advisor who has a good “feel” for the momentum of the process is probably the key to achieving value. It is easy to get over-anxious or overconfident and then neither position is likely achieve “best value”.
|
