Sooner or later, it’s time to move on. There are many reasons you might want to do this: maybe you want to sell your company and take the rewards for all your hard work, pass on the day to day management of the company and retire, or simply close the company down and do something else.
Exiting a company is complex and often very emotional. You need to be sure that you’re doing the right thing, and that you’re getting a good return for all your hard work. And it’s not something that most founders or management teams have experience in – their expertise is in running the company, not exiting it.
What I can do for you
I help owners and investors sell, transfer or close down companies cleanly and efficiently. I’ll help you make sure you’re getting the best value for it, and that there are no loose ends that should have been taken care of.
Selling your company
When you decide to sell your company, you probably have five concerns. Who’s going to buy it? How much can I get for it? What’s going to happen to me and my staff? What exactly do I need to do? And what happens afterwards?
I have been involved in the sale of many companies. I’m highly experienced at finding a buyer, negotiating the best possible terms, and ensuring that the transfer of ownership is efficient and complete. If required, I’ll help you ensure that staff jobs are protected under the new owners, and that you can continue to have the right role for you if you want one.
- I sold the IP of a design company, allowing the owners to move onto other opportunities.
Retirement planning
When you decide it’s time to step back and hand over to someone else, you want to be sure the company’s in good hands. You need to decide what role you will play in the company, perhaps as a Board member or advisor, and what ownership you will continue to have. It’s important to ensure that once you are no longer responsible for day to day operations, your legal position is clear and that you are no longer at risk. And you also need to ensure that you are financially secure, and not at risk of an unexpected bill from the tax man.
On a personal level, I can help you minimize your tax burden, which often involves advance planning, and I’ll work with you to ensure that your financial interests are protected. On the corporate side, I can advise you on selecting new management, and I will ensure that the transfer of control goes smoothly, on both the operational and regulatory levels.
- I helped a property owner dispose of his portfolio so that he could retire.
Winding up
There are many valid reasons for closing down a company – it’s not necessarily a bad thing. But you need to be sure that once it’s wound up, you have no lingering responsibilities or liabilities, and that every last detail has been taken care of. You also want to dispose of any assets that could potentially be valuable, and get the best possible price for them.
I can help you prepare your final accounts, take care of all the necessary paperwork, and ensure that you comply with all legal requirements. I can review existing contracts or agreements, and ensure that they are terminated correctly. I can help you sell tangible assets such as property, inventory, furniture, equipment, vehicles, or other items of value. I can also help you sell intangible assets such as patents, customer lists, or brands, and collect any outstanding debts. And finally, I can help you ensure that any financial assets are distributed between creditors and shareholders in an equitable and legal manner.
- I wound up a sound library and disposed of the assets in a tax-efficient way for the shareholders.