All you ever wanted to know about Business Succession... but were afraid to ask
Selling a business is a once-in-a-lifetime opportunity to realise the value of a lifetime's work.
We will start the masterclass by considering some of the steps we can take to really improve the potential value of a business – and look at some of the commonly recommended window-dressing that, frankly, makes little difference. We’ll then move to an interview with Nick Harding, who will share his experience as both an acquirer and seller of around £500,000,000 worth of businesses. Simon Lubbock will finish the session.
Richard Ross has 20 years’ experience advising clients on exit strategies, typically at retirement. He has an MBA from UEA and his dissertation looked at the SME ownership transfer market with particular emphasis on retaining value and momentum post-sale.
Nick Harding led an MBO team in a £26m deal in 1996. Through a series of acquisitions he built a business that was eventually sold for £180m (9 times EBITDA) in 2007, delivering a 400% return to shareholders. He then established a new business, funded by taking control of an AIM cash shell and built this by a series of acquisitions before selling in 2012 for £80m. Along the way he has used pretty much every funding option available, from fairly straightforward bank borrowing, through Venture Capitalists to floating on public markets.
Simon Lubbock is Director of Commercial Banking in Norfolk. He has a wide experience of funding deals, including lending against a businesses cashflows, which is particularly useful for MBOs. He can give an invaluable insight into what is and is not likely to be acceptable to a lender.
Date: 9 May 2018
Time(s): 08:15 for 08:30
12:15 for 12:30
Where: The Enterprise Centre, University of East Anglia, Norwich Research Park, Norwich, NR4 7TJ
The Masterclass will last around two and a half hours with questions and be of interest to business owners looking to sell or acquire another firm and their advisers.
Refreshments will be available. There is no charge for the Masterclass but you may like to consider a donation of £20 to Ormiston Families' MPower project that supports parents who have had a child taken into care.