Selling or acquiring

Business succession and handover

Sale to a third party or handover within the family: it needs an agreed value, a plan for whoever takes over and clear rules for whoever leaves.

“Valuations are there to show where you really are, not where you would like to be.”

Michele Collini · ACCA Member

The service

What it covers

When you need it

When the owner starts planning their exit.

What you receive

Valuation, business plan for the successor and an outline deal structure.

Not included

Succession and corporate matters, which remain with the notary and the lawyer.

Indicative timing

To be agreed based on family and corporate complexity.

Starting pointValue of the business, ownership structure, family members’ roles in the company and existing personal guarantees.
Choosing the routeTransfer within the family, bringing in a manager, or a full or partial sale to third parties.
PlanGovernance rules, a financial plan to buy out those leaving and debt sustainability, coordinated with the notary and legal and tax advisers.
Ongoing supportSupport for the successor, relationships with banks and key customers, and monitoring of results in the following months.

Latest financial statements and up-to-date management accounts
Articles of association, company register extract and existing shareholder agreements
Organisation chart and family members’ roles
Existing loans and personal guarantees
Operating property owned by the family

Postponing until the transfer becomes urgent.
Splitting the shares equally without distinguishing between those who work in the business and those who do not.
Deciding without an agreed valuation of the business.
Forgetting the founder’s personal guarantees to the banks.

When is the right time to start?

As early as possible, while the founder is still active and can support the successor.

What if no one in the family wants to take over?

The alternatives are bringing in a manager or a full or partial sale to third parties.

Should the banks be involved?

Yes: credit lines and guarantees are often tied to the founder personally and need to be renegotiated in good time.

Is a business valuation needed?

Yes: it is the shared basis for dividing the business, buying out those leaving or selling.

First step

Indicative value, due diligence issues and work to complete before going to market, with a written outcome.