After identifying prospective buyers, the next step is to position the selling company appropriately for these buyers and market to them creatively. The goal is to highlight aspects of the selling company most likely to appeal to these particular buyers. Seller companies should create a document describing their potential strategic value to these buyers. Prospective buyers will study the document, visit the company's facilities, talk with senior management, and perform other due diligence before making an offer. Finding the Right Partners.
Some company owners have a difficult time assessing their own company objectively.
They can't see the forest for the trees, and they find it difficult to discern how their company fits into the medical device industry or what value it might hold for a buyer. While it is easy to understand this myopia, it can be detrimental when an owner is ready to sell. By hiring an expert adviser, sellers will also be able to focus on running their companies and making sure conditions don't deteriorate during the merger or acquisition. Owners should seek assistance from an expert, such as a business broker or an investment banker, at this critical point in the company's life cycle. The right partner will be experienced, knowledgeable, and interested in working with the company, and have a track record for successfully selling or recapitalizing businesses.