Supporting business owners to achieve a successful exit

Experienced advice to deliver goals and maximise value.

A business exit often represents the realisation of years of dedication, making it one of the most important and emotional business milestones for any owner.

Whether you are looking to exit now or planning ahead for a future sale, getting the right advice and preparation in place can make a significant difference to the outcome.

Our corporate finance team works with business owners to plan and execute successful exit strategies. From early stage exit planning through to running a full sale process, we support clients at every stage of the journey to help maximise value and achieve their personal and commercial objectives.

Who we work with

The clients we partner with on exit projects include:

  • Business owners looking for professional support to achieve an exit now
  • Owners considering a future sale of their business
  • Those wanting to begin planning and maximising value for a future exit event

Where we can help

Our team provides full corporate finance advisory throughout the exit process.

We combine strategic advice with hands-on transaction delivery to guide business owners through every stage of a sale. Our key services in this area include:

Preparing a business for sale

We work with you to understand your key drivers, timescales and valuation expectations for a transaction. We can help you to:

  • Assess the current position and value of your business
  • Gain a better understanding of completed transactions in your sector

  • Develop a plan to enhance value and reduce risk ahead of sale

  • Identify the most appropriate exit routes

Marketing & Negotiations

When the time is right to exit, we provide comprehensive support to manage and deliver a structured sale process. Our work usually includes:

  • Preparing detailed sale documentation, including an information memorandum
  • Researching and identifying potential buyers across the market
  • Approaching buyers discreetly on your behalf
  • Managing discussions and negotiations with interested parties
  • Supporting negotiations through to agreed heads of terms

Transaction delivery through to completion

Once a buyer has been identified and terms agreed, we project manage the process through to completion. This includes coordinating with all relevant parties and ensuring that the transaction progresses smoothly. Our role often includes:

  • Managing the due diligence process, and negotiating feedback from the buyer post DD
  • Coordinating lawyers, tax advisors and other professional parties
  • Providing commercial input into legal documentation
  • Advising on key transaction elements such as completion accounts, fund flows, cash-free debt-free analysis and normalised working capital

Our approach to business sale and exit projects

When supporting with business exit projects, our aim is always to understand what matters most to our client and work as a genuine partner towards those desired outcomes, such as maximising value, protecting the legacy of the business or ensuring the right future home for the company.

We work closely with our clients throughout the process, providing honest and open assessments of the value of the business and the options available, now or in the future.

Our experience across transactions with domestic and international buyers, as well as private equity backed businesses, allows us to guide clients confidently through what can often be a complex process.

In summary, we can support you to:

  • Understand your exit options and potential timeframes
  • Prepare your business for a successful sale
  • Run a structured and confidential sale process
  • Maximise value and deliver a successful transaction

Speak to one of our specialists

Dave Baggott

Partner

[email protected]

Frequently Asked Questions

A corporate finance advisor provides specialist support on strategic and transactional financial events. At CN Corporate Finance, our team of experts help business owners understand their exit options, helps them plan and ultimately deliver the best exit route for you – this may include a sale to the Management (Management Buy out), to Private Equity or to a competitor / complimentary business.

Selling a business typically involves three key stages: 1. Preparation of the business for sale and research of the market and buyers, 2. Marketing and Negotiations, to find interested parties and negotiate offers to a preferred buyer, and 3. Delivery of the transaction including Due Diligence, deal structuring and completion mechanics and legals. As experienced corporate finance advisors, we guide business owners through every stage of the exit process, helping you to maximise value and achieve your personal and commercial objectives.

Exit planning is the process of preparing both you and your business for a future sale. It involves understanding the current value of the business, identifying and addressing value gaps, reducing risks and choosing the right exit route and timing. Owners who plan their exit early typically achieve stronger valuations, smoother transactions and better outcomes than those who sell unprepared or in an accelerated process.

The timing of an exit depends on several factors, including the businesses position and performance, market conditions including industry trends and economic factors, and importantly your own personal circumstances, aims and objectives.

It’s crucial to work with advisors to understand the exit options available to you and appropriately plan to successfully deliver the right option for you at the right time for both you and the business, so you can sell from a position of strength rather than necessity.

Preparation starts with understanding your key drivers, timescales and valuation expectations. We assess the current position and value of your business, benchmark it against completed transactions in your sector, develop a plan to enhance value and reduce risk ahead of a sale, and identify the most appropriate exit routes, so your business is genuinely sale-ready when you go to market.

Valuing a business can be a complex process and requires a detailed analysis of your business, operations, financials, industry and external market factors. Calculating the most appropriate basis of valuation can depend on many factors – some of the more common methods are market-based comparatives including multiples of maintainable profits, comparable transactions, levels of net assets in the business, and discounted cash flows based on future forecasts and expected cash flows.

Ultimately, the value of a business is agreed between a willing buyer and a willing seller. If you’d like to get a more accurate valuation of your business, or you are looking to assess whether an offer you have received is fair and appropriate, don’t hesitate to get in touch with CN Strategic Advisors to provide you with our experienced assessment and strategic advice.

We research and identify potential buyers across the market — including trade buyers, complementary businesses, private equity investors and international acquirers — and approach them discreetly on your behalf.

As a business owner, you will be well aware of your main competitors and larger players within your industry who could be a buyer. A Corporate Finance advisor like CN Corporate Finance will assess these parties with you and also work with you to research your market and complimentary sectors to identify additional appropriate and active buyers (that also have the resources or previous experience to complete acquisitions).

The typical approach is then to either approach these parties directly or conduct a wider marketing process to share a confidential teaser summarising the business to a larger audience. As part of the CN approach, we will explain the pros and cons of different marketing approaches and progress the most appropriate method for you – many of our clients prefer a ‘discreet process’.

Our experience across transactions with domestic and international buyers, as well as private-equity-backed businesses, means we know how to create competitive tension and secure the best outcome.

Yes. Confidentiality is critical to protecting your staff, customers and supplier relationships during a sale. We run a structured and confidential sale process, approaching buyers discreetly, using non-disclosure agreements before any sensitive information is shared, and controlling the flow of information at every stage until the transaction is ready to be announced.

During initial discussions, it is important to ensure you carefully consider the information you share with a buyer and at which stage of the process you do so.

CN can advise you throughout the process to ensure you are sharing an appropriate amount of information and that it highlights the business in the best way. As part of a controlled and efficient sales process we will assist with compiling the relevant information such as an Information memorandum which will detail a background to the business, and position in the best way to highlight synergies and opportunities to drive and enhance value.

It is also worthwhile entering into a Non-Disclosure Agreement (“NDA”) prior to sharing information to protect confidentiality.

An Information Memorandum is the key sale document presented to prospective buyers. It sets out your business’s history, operations, financial performance, growth opportunities and the rationale for the sale. A well-prepared IM presents the business in its best light and directly supports a stronger valuation. We prepare detailed, professional sale documentation as part of a controlled exit process.

Due diligence is the buyer’s detailed review of your business mainly covering financial, legal, tax and commercial matters and is conducted after heads of terms are agreed. We manage the due diligence process on your behalf, negotiate any feedback from the buyer, coordinate lawyers, tax advisors and other professional parties, and provide commercial input into the legal documentation, keeping the transaction moving smoothly to completion.

“Cash-free, debt-free” is a common basis for valuing a business. Most offers will provide a headline or Enterprise Value (“EV”) which will be on a cash free, debt free and normalised working capital basis. This mechanism is in place to adjust the headline price so that the business is transferred without surplus cash or outstanding debt, with an adjustment for normalised working capital. These mechanisms can significantly affect the final proceeds you receive. We will give you an indication of the impact of this adjustment prior to you accepting an offer, and during the delivery phase of the transaction will advise on completion accounts, fund flows, cash-free debt-free analysis and working capital adjustments to protect your position through to completion.

There are many legal aspects to consider as part of exiting a business. The potential buyer or investor will likely conduct Due Diligence across all key legal documents and contracts within your business to assess for risks and potential liabilities. This can include contracts such as those with customers, suppliers, employees and regulatory compliance.

In addition, there are complex legal documents drawn up, negotiated and agreed as part of selling shares between two parties, such as a Share Purchase Agreement (“SPA”), which will cover the key terms of the acquisition of the business and include key legal protections such as warranties and indemnities.

It is important to ensure you work with good corporate lawyers as part of an M&A transaction such as a sale of shares. CN Corporate Finance have worked with many different lawyers that we can introduce as appropriate.

Exiting a business has tax implications, and it’s crucial to understand the tax consequences of the chosen exit strategy. Tax advisors as part of the wider CN group can outline all your tax considerations and help to optimise the financial aspects of your exit.