Sell-Side Services for a Family-Owned Business

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Business Issue:

Riveron’s client is a leading developer and manufacturer of high-performance crystals, crystal powders, and rare earth oxides. The entrepreneur-owner, who had been leading and growing this business for many years, elected to market his business for sale in order to create liquidity for his family and himself.

Our client’s investment banker, who recognized the strengths of the engineers and patents, customer base, growth prospects, and steadily improving cash flow, referred us. However, the investment banker also learned the company was unable to produce accrual-based books and meaningful analysis on a monthly basis. In order to prepare the business to be marketed, the investment banker recommended its client engage us to perform sell-side preparation services to improve presentation of its historical financial records for the prior two years and make recommendations for process and reporting improvements on a prospective basis.

Riveron Approach:

We assisted our client by gathering data directly through access to QuickBooks, discussing routine and non-routine transactions with management, and proposing improvements to financial records. In addition, we provided feedback to the business regarding back office processes and recommended steps to improve record-keeping going forward.

Benefit to Our Client:

Our thorough analysis and preparation helped to lead the client through a diligence process with a large, sophisticated publicly traded company. Given our understanding of the buy-side diligence process and our ability to anticipate prospective needs of buyers, we were able to advise our client regarding financial diligence, and prepare the company for financial information requests. By readying our client for the sell process, improving the presentation of financial information, and responding appropriately and in a timely manner to requests by buyers, we contributed to successful representation of the business as an extension of the management team. We were commended by our client, and earned the loyalty of the investment banking institution that had recommended us.

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