Evaluation, construction of presentation package, buyer contact list and development, sale process strategy, management of buyer contact and visits, value negotiation and letter of intent, assistance in final due diligence process.
Each client and transaction is unique, and we tailor our commission structure, travel cost, and retainer approach to each specific project. Our goal is to create a working relationship with our client that provides the comfort that in every case and situation we are doing our absolute best work in the client’s behalf. Our promise is to do the best job for our client, in every assignment, every time.
The listing agreement provides for a 30-day cancellation by either party. The Client has the right to accept or reject any offer and the commission is due only upon the closing of the transaction.
Bid Process and Timeline
Cribb, Cope & Potts suggests that the best method to use for maximizing the selling price of most publishing companies is a bidding process. After executing Non-Disclosure Agreements, buyers would be provided with detailed information on all company operations. A fairly tight timeline would be set for the following…
Steps in the Sale Process
- Construction of the sales offering memorandum
- Creation and population of the data room
- Execution of non-disclosure agreements
- A buyer review of the sales offering memorandum
- Initial bid offerings submitted by buyers
- Buyer visits to the property (conditional on client wishes)
- Final bid review and negotiation
- Execution of a letter of intent
- Final due diligence
- Sale closing and possession
Estimated Time Span After Offering Memorandum Completion: 24 – 32 weeks.
Construction of the Sales Offering Memorandum
Cribb, Cope & Potts constructs a high-quality presentation package that thoroughly explains the publishing operation. These packages are prepared in ink on paper and electronic PDF versions.
Populating the Secure Data Room
A file format is created in the CC&P data room and direct access is provided to our client. The data room is populated with financial and other detail information. Through the due diligence period, the data room is used for all information requests and maintains a tracking system to ensure exactly what has been exchanged with an acquirer. Once the sale is closed our client can download the data room files and have a complete electronic copy of the entire transaction.
Set and Maintain a Transaction Schedule
We establish and maintain a schedule for the transaction under the guidance of our client, and coordinate all information requests and buyer visits.
Accompany Buyer Visits
Cribb, Cope & Potts personnel accompany buyers on visits to the market and subject properties.
Negotiate Value and Assist Other Professionals
Under the guidance of our client, we negotiate value and deal structure for the transaction. In addition, we assist our client’s other professionals in the accounting, tax, and legal areas.