Many middle market companies lack a Board of Directors or any formal advisory services. If they have a Board, most are not focused on what it takes to create value that can be realized in an exit transaction.
Board in a Box is designed to quickly assess the strengths and weakness of a business from a buyer’s perspective and to work with management to maximize value prior to a sale. It is an assessment designed to find and quantify any issues or concerns, so that a business owner can make value-based choices on what to address and what to disregard. Think of it as a home inspection but for your business.
TKO Miller professionals will work with the company’s management team to perform a review of that company’s readiness to sell. We will analyze the business the way a prospective buyer would and identify any areas that should be addressed prior to a sale. Through many years of experience, we have found that sellers are rarely selling what buyers are buying. This means that the things you think are valuable about your business might not necessarily be the things that buyers are looking for in an acquisition candidate.
Even if you have no intention of selling, you will learn a tremendous amount about your company. A critical look at the business, the way a buyer might look at things, is a new and different approach than most managers take when evaluating operations. Addressing any findings will improve the business, even if you never sell.
This is not meant to be a detailed operational assessment of your business. It is focused on what a company and its management team need to do in order to be successful as a sale candidate and to demand the highest value.
We will uncover things you may not want to hear, as well as things that you should continue as a best practice. In the end, this analysis will give you a road map of items to think about well before you sell the business and will enable you to position your company in the best possible light, thereby maximizing value.
The evaluation will take about a day and a half of the business owner’s and management team’s time, typically split among several days. During these sessions, TKO Miller will ask the questions related to the below-mentioned areas and will collect a lot of information. Four to six weeks later, the same TKO Miller team will return with our findings, conclusions, and recommendations.
If you want to sell your business sooner – great – let’s take the information gathered and prepare an Offering Memorandum. As a plus, we can deduct the cost of the Board of Directors in a Box from your retainer fee.
If you don’t want to sell your business or want to wait – that’s OK too – take the information that TKO Miller prepared and use it to make some adjustments to your business. If, and when you are ready to go, let us know and we will deduct the cost of the Board of Directors in a Box from your retainer fee.