The purchase process will be confidential to facilitate a transition with minimal impact on employees and customers. The transaction and transition will be led by me, Bob, from start to finish. Below is a summary of the steps to establish an understanding of the business and ensure a good fit and transition for both parties:
• Introductory conversation to improve understanding of current owner and business
• Preliminary business review and assessment of high-level financial information
• Requests for additional data and follow-up questions
• Signing of a letter of intent (LOI)
• Detailed due diligence process to evaluate all key aspects of the business
• Terms agreement, planning the transition, closing the transaction, and issuing funds