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New venture aims to help independents secure their futures

New venture aims to help independents secure their futures

Three stalwarts of the funeral business have teamed up to launch a new venture aimed at helping independent funeral business owners who want to sell their operations get the best deal.

Pete O’Neill (pictured right), Roger Ferdinand and Gordon Fergusson, who between them have more than 80 years of business experience, have launched Independent Mergers and Acquisitions, or ImandA, to provide a unique business sale intermediary service to the funeral profession.

“Advertisements in the trade press placed by groups looking to acquire businesses are very familiar,” says Pete. “The problem here is that the corporate buyer is in control and often dictates the price and terms of the sale. There are also many independent funeral businesses looking to expand by acquisition that are never involved in these sales because they are often not aware of the opportunity.  

“The IMandA Process is unique, as it puts the seller in control, not the corporate buyer.”

The first step is a confidential conversation about the possible sale of a funeral business. Then a potential seller gets a free opinion of value, which ensures that their expectations for the sale are in line with market expectations.

IMandA will then work with a prospective seller to prepare an offering memorandum that will present a business in detail to potential buyers, which could include conglomerates, other groups and independent funeral businesses looking to expand.

The next stage is to stimulate interest from potential buyers by circulating a blind ad (an undisclosed summary) and bringing not only one buyer but hopefully multiple buyers to the table at the same time. No offering memorandum details are disclosed until a seller has approved each potential buyer and until they, in turn, have signed a confidentiality agreement. This way the seller always remains in control.

IMandA will then negotiate on the seller’s behalf, and works with them at meetings with the potential buyers to ensure that you get the best price and terms for the sale.
“Our aim is to provide the letter of intent details that the buyer’s corporate solicitors will use when drawing up the sale and purchase agreement,” added Pete.

For more information, ring (0141) 942 7434, e-mail pete@imanda.co.uk or visit www.imanda.co.uk
 

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