Thousands of businesses change owners in Germany every year. Although this event appears to be fairly common, it is found more often than not that many businesses are insufficiently prepared for succession. The business has developed for years as shaped by the owner, and everything is designed with a view to the owner's central function. To purchase or take over a business, a future successor has to obtain a considerable amount of information. But a successor often finds that the sources of information are limited, accounting audits are missing, annual financial statements are purely optimized with regard to tax law aspects, and that there are no controls. The are either no business planning documents at all, or at an insufficient level of detail, or for a short planning period only.
To avoid unpleasant surprises for the seller, it is important that the business is prepared in due time for the requirements of the potential purchaser. The owner who hands over the business has to anticipate the procedure and analysis by the potential successor/purchaser in a simulation to be able to clear up as much as possible that could be a major disruptive factor for a potential purchaser and hinder the transaction or lower the purchase price, before a third-party analysis is performed.
When we assist purchasers, we can resort to the experience gained and put ourselves in the position of the purchasing business. We support purchasers with tools such as due diligence checks or company valuation and in refinancing the purchase price.