Sale of a manned guarding business to a trade buyer

We were retained by our client, who had built his business over a period of 15 years, in order to work confidentially to sell his business.

Our client had created his business from scratch, originally undertaking guarding duties for groups he knew personally and then eventually winning contracts and successfully providing a range of guarding services to offices and shopping centres.

He had successfully grown his business whilst remaining a regional operation, and had no desire to expand outside the few counties in England within which he operated.

We were retained to sell has business as our client had reached a point where he now wished to exit the sector he was in and pursue other interests, but apart from advertising it openly on the market or to a wide range of buyers, he had no knowledge of to whom he might sell.

He appointed Morphose as he knew we were able to act confidentially and offer him frank advice on his options.

We worked with the vendor for nine months, with the result that we fully understood his reasons for selling and future objectives. This enabled us to find an appropriate buyer with whom he agreed a majority upfront deal, at the same time allowing our client to retain a paid role for at least two years.

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Sale of fire and security detection/monitoring business to a PE group

We were retained by our client, who had built his business over a period of 12 years, in order to discreetly sell his business.

From our initial meeting we established his key reasons for selling and agreed a short-term plan so that he could maximise his exit position and also remain engaged in the business for a defined period of time.

Through working with vendor for 12 months we maximised his exit by building his cash reserve and maximising business efficiencies, whilst ensuring the business was ready to be sold and that he could exit the group in a planned way, with no negative impact on the operations or a potential buyer.

This allowed us to put in place an outline Information Memorandum (IM) giving potential buyers sufficient key facts to determine their desire to take matters further and remain involved to complete a purchase.

After narrowing down a short list of over 100 target buyers, we enabled our client to negotiate in-depth with two parties (a trade buyer and a PE group), before finally reaching a deal with the PE group.

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Increased profit and cash generation within 18 months of appointment

Our client had been a successful technical installation and service business, but its profitability had decreased and growth had stagnated despite increased expenditure in sales and on marketing. Although the company had launched new sales materials and a refreshed website with detailed videos explaining their services, neither turnover nor profit had grown.

At the same time, profitability had actually decreased despite the fact that our client had many long-term contracts that on first assessment should have been profitable.

The owners had reached a point where they couldn’t improve the organisation and were considering selling the business whilst it was still profitable.

Through several meetings we identified a range of options for the business and the owners so they could agree which route to take. We then carried out a number of operational assessments on the business and from this we drew up an agreed ‘plan of action’, which allowed the owners to take forward the changes we recommended.

The end result has been that they increased profitability, enhanced cash generation and improved sales over the course of 18–24 months.

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