CASE STUDY: Sale of £5 million business
ZINGELA SPECIALIST: PETER KROEGER
SITUATION
Founded in 1995, the business developed software to collect and review early phase clinical trial data. Peter was introduced to review an unsolicited offer to acquire the business.
PROCESS
Our advice was not to accept the deal but instead to prepare the business for the sale which included completing a significant software development program and implementing it into some major customers. We reopened discussions with the prospective buyer a year later and negotiated a better deal on better terms to the satisfaction of both the buyer and the client's shareholders. We then project managed and led the response of all due diligence and financial forecasting as well as advising on all the commercial issues that arose during that process.
RESULTS
The £5m deal completed a year after – with all shareholders receiving 100% of their earn-out payments ahead of schedule.
“Peter had clearly done this before which I believe was a significant factor in achieving a successful deal. He did a fantastic job of managing this process. It’s important to recognise that a sale will have a strain on the business as well as a cost implication and one needs an advisor to manage a deal to prevent purchases from changing the goal post at the 11th hour, Peter’s experience and commitment took complete control of this.”
“Peter was so helpful, knowledgeable and quick to do whatever was needed. I could not have played my part without him. I had to respond to the due diligence and we had to produce forecasts over and over and over again. Well Peter did all that and he checked everything I did to make sure it was right. I am delighted to say, the deal would not have happened without him. I am happy to give Peter a reference at any time.”
