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ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / Key considerations for business owners in advance of selling their company
BLOG26th Oct 2021
Following significant disruption to the UK Construction sector throughout the Covid pandemic, demand for construction is on the rise driven by large new infrastructure projects, housebuilding, and an increase in home improvements. This increase in demand comes at a time when there is a shortage in skilled workers and key building materials, creating issues for smaller companies that lack visibility of medium to long term demand.
Given these market dynamics, we expect to see an increase in consolidation in the sector, with larger acquirers purchasing smaller companies to expand services and offerings, drive cost synergies and buying power, and boost revenues. A key driver for buyers will be to acquire innovative businesses with a focus on new materials with a lower carbon footprint, and tech-enabled companies who have invested in the technology and digitisation of processes.
Most business owners rarely plan for a sale with serious consideration, typically only crystallising then an approach is made, the owners near retirement age or perhaps have a shift in their life objectives. With many owners likely having to invest significant hands-on time in their businesses to guide them through an extremely difficult past 18 months, their companies are unlikely to be in “oven ready” condition should a potential acquirer approach them.
In addition, most business owners typically only sell a business once, and therefore do not always appreciate the complexities or pitfalls of this important process. After all, they want to get the best deal possible to recognise their efforts and be suitably rewarded in terms of after-tax proceeds.
The most effective action a business owner can take to increase the interest in their company as well as drive value higher, is to prepare both themselves and the business well in advance of a potential sale process beginning or entering into negotiations with an interested purchaser.
If any businesses in the construction sector are considering a future sale, we would suggest they consider the following six key points:
These are just a selection of areas which we are currently discussing with businesses in the construction sector, and encourage them to consider in advance of a potential sale. Investing time well in advance of looking to sell a business can increase the value and after-tax proceeds, reduce the handover period for the vendor post-sale, and importantly, facilitate an efficient and effective sales process.
If you would like to know more about this area, please contact Corporate Finance Senior Manager, Chris Thompson or your usual AAB contact.
How AAB can help you with
When you need comprehensive, dependable support at any stage of your business journey, our corporate finance team will provide practical and motivating advice to help you progress with confidence. Throughout the landmark events of your business lifecycle, our specialist corporate finance team will guide you with sound, proven advice. AAB corporate finance can help you through the good times of growth and maturity, and be ready to support you should you encounter challenges such as restructuring or litigation.
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