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Does anyone want to be my M&A coach? Will pay.
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They have the most broad, overreaching engagement letter I have ever seen. I can't speak to their competency but the engagement letter is awful.
I have a client currently dealing with them, they managed to sweet talk my client at a conference into signing up for their consulting. Miserable experience for the client. Long story short, I would carefully review any of their agreements before advising your client to sign.
All they really do is find potential buyers and are then entitled to a % of the purchase price. Their contracts were sneaky, they remained entitled to their “consulting fee” even if the Seller they sourced backed out of the sale. There was also a provision in their agreement that entitled them to fees for up to two years after the contract terminated, which has prevented my client from being able to sell their business while they wait out the clock.
Thank you for your feedback. These are among the concerns I relayed to my client after review of the docs.
I don't think I've heard of them before - what kind of offer have they made? Competitive enough to consider? you may be able to do some due diligence
Primarily they do a valuation and then find a buyer. I assume I’d do all of sellers contract work.
I often represent sellers and can introduce you to m&a advisors who actually bring value (and help find buyers). My firm refers business to (and receives referrals from) these advisors often.