Methodology

Tangible works very closely with Vendors throughout the sale process, on everything that relates to the sale – Tangible is there to make sure the sale succeeds, on the terms the Vendor requires.

Tangible normally identify that a Vendor should allow 6 to 9 months to sell a company, from the moment Tangible is appointed, to conclusion of contracts and is usually conducted as a controlled auction process.

The sale process for your company will comprise the following key stages.

Methodology: Stages 1 - 6

1- Agreement on target price, strategy, timetable; information gathering on your company by Tangible

2- Creation by Tangible of the sales Information Memorandum (“IM”) and identification of target purchasers. The list of target purchasers would be agreed with the Vendors at an early point, and Tangible will only deal and communicate with those persons approved by the Vendors

3- Distribution of pathfinders to target purchasers to establish and engage interest

4- Distribution of IMs to target purchasers on receipt of confidentiality agreements

5- Interview of prospective purchasers, jointly with Vendor, to assess the purchaser and deal with any queries arising on both sides.

6- Solicitation of written bids from all purchasers, refinement of bids.

Methodology: Stages 7 - 9

Throughout the latter part of the process, Tangible would “keep warm” other bidders, should the preferred purchaser fail to complete. In addition, Tangible will assist the Vendor with the management of the due diligence process, where required, to smooth this process as far as possible.

7- Consultation with the Vendor to assist his selection of a preferred purchaser

8- Exclusivity for preferred purchaser; holding pattern for other bidders;

9- Swift transition to written heads of terms for a sale; client instruction of legal advisers and due diligence process; conclusion of sale transaction.