Frequently Asked Questions

How does PGI approach the sale of a company?

Our service truly gives a "caring" and "personal touch" to that process – so to us, it's not just selling another business but successfully orchestrating for our client "a life changing event." That is a great responsibility beyond just selling a business because the future of the owner, employees, and customers is in the balance.

Why is it said – “One Offer Is No Offer”

Because between financial and strategic buyers there can be surprising range of value which is why PGI offers no asking price and until a market is made with multiple offers, a business owner with only one offer may be leaving significant money on the table after a lifetime of work. With our “Deal Point” process PGI creates a limited auction, but in a fair way in case we have to come back to the table, so no buyer feels abused in the process. PGI sold a company in the San Francisco Bay Area with a $6 million EBITDA and had offers that ranged from $36 million to $60 million.

Is there a risk in selling a business?

Yes, it has probably taken years of hard work to reach this point, and a lot is at stake, and selling a business confidentially requires a careful process that should only be trusted to experienced professionals, so key employees don’t start looking for another job, and competitors don’t go after your customers.

Is my inquiry to PGI confidential?

Yes, not only your inquiry but also employees, customers, and competitors do not become aware of a pending sale with our trusted experience until the appropriate time.

How is Confidentiality with Buyers and the Business Community Secured?

Until a potential buyer is qualified and executes a nondisclosure agreement, no company identity, location, or details are given. There is a blind overview in the Nondisclosure Package.

Price, who determines it?

PGI does not have an offering or asking price - that just limits value. Making a market with multiple offers usually has a range of values, and negotiating from a position of strength will determine the ultimate value.

How do you get buyers to the table at the same time?

We don't piecemeal the data to potential buyers; we create a comprehensive confidential offering book (Confidential Information Memorandum (CIM)) that is typically 75 to 150 pages (unusual in the lower middle market), as our reference letters mention, giving potential buyers the data to be decisive and move forward with an offer in a timely manner.

Do you turn it over to the attorneys to close the transaction once an offer is mutually accepted?

No, attorneys are there to protect you and are adversarial in nature, whereas we are the deal makers. Once an offer is mutually accepted and terms are final, the "Roadmap to Closing" process commences and PGI becomes the Project Manager working with both the buyer and seller teams to close the deal and will start with an "all-hands" video meeting to introduce the parties and advisors creating a "team environment" between both sides of the table, define and organize and assign tasks and timelines to complete the transaction. Then, weekly updates with the principles will follow to a successful closing. As Project Manager, PGI has a template to facilitate buyers' due diligence; manage the schedules and exhibits to the legal agreements, real property surveys, environmental reports, and appraisals; obtain third-party consents if needed; coordinate and facilitate lease assignments, estoppel certificates, and real property title issues; and remove UCC search items that need to be cleared from the public record. PGI shepherds the transaction from engagement to closing.

What type of companies do you work with?

Our proven process has generally been successful in most fields.

What about my loyal and long-term employees and customers?

In making a market, we not only work to maximize the price but also find the right fit for all. To secure a successful future for the loyal employees and customers, there have been times for the right fit, we don't take the highest price.

How do you find buyers?

We have a 10-phase sales and marketing program that reaches all corners of the market.

How do I get started in the sale process?

We first work up a courtesy valuation to decide if this is the right time to sell or not.

Who will I speak with?

To start with, Rick Piper and he will decide after an initial interview whose experience best fits a new engagement.

Do you have references?

We have ~200 reference letters from four decades that we can send you.