Unlike the M who the buyers andsellers are; why businesses are put up for sale; how to prepare abusiness for sale; and how to size up a business that is on themarket. The book’s second section looks at financial and valuationissues, a particularly important area when purchasing companiesthat are not subject to SEC regulations. Coverage includesnormalizing historical financial statements, using financialforecasts, determining real ROI, valuation methods for midsizecompanies, and determining the value of partial ownerships,intangible assets, and business risk characteristics. After a detailed examination of legal issues, the book exploresthe roles of outside professionals in the M&A process,including intermediaries, attorneys, accountants, businessappraisers, and machinery and technical appraisers. The bookconcludes with a look at various ways of structuring the final dealand the pros and cons of each arrangement from both the buyer’s andseller’s perspectives. With 36 self-contained chapters that can be read in sequence orconsulted independently, Mergers and Acquisitions for Small andMidsize Companies is both a comprehensive M&A tutorial fornewcomers to the process and an indispensable reference forprofessionals involved in any aspect of the buying and selling ofsmall and midsize companies. A Step-by-Step Guide to Buying and Selling a Business from aDistinguished Group of Recognized Experts Mergers and Acquisitions Handbook for Small and MidsizeCompanies is the perfect guide for anyone who is selling a businessor hoping to buy one. Each of the nearly 30 contributors is arecognized expert in a particular aspect of the M&A process.These authors explain their topics from the ground up, assuming noprevious experience on the part of the reader and addressing thesubject from every conceivable angle. Areas of discussion include: * Fundamentals of the mergers and acquisitions process * Financial and valuation–normalizing historical financialstatements, utilizing forecasts, valuation methods, and more * Legal aspects–disclosure requirements, due diligence,advisor engagement letters, closing documentation * The role of outside professionals–intermediaries,attorneys, accountants, business appraisers, and machinery andtechnical appraisers * The deal itself–deal structures, creative financingstrategies, a case study, pros and cons of ESOPs, and muchmore
Book Details:
- Author: Thomas L. West
- ISBN: 9780470339466
- Year Published: 1997
- Pages: 464
- BISAC: BUS060000, BUSINESS & ECONOMICS/Small Business
About the Book and Topic:
Unlike the M who the buyers andsellers are; why businesses are put up for sale; how to prepare abusiness for sale; and how to size up a business that is on themarket. The book’s second section looks at financial and valuationissues, a particularly important area when purchasing companiesthat are not subject to SEC regulations. Coverage includesnormalizing historical financial statements, using financialforecasts, determining real ROI, valuation methods for midsizecompanies, and determining the value of partial ownerships,intangible assets, and business risk characteristics. After a detailed examination of legal issues, the book exploresthe roles of outside professionals in the M&A process,including intermediaries, attorneys, accountants, businessappraisers, and machinery and technical appraisers. The bookconcludes with a look at various ways of structuring the final dealand the pros and cons of each arrangement from both the buyer’s andseller’s perspectives. With 36 self-contained chapters that can be read in sequence orconsulted independently, Mergers and Acquisitions for Small andMidsize Companies is both a comprehensive M&A tutorial fornewcomers to the process and an indispensable reference forprofessionals involved in any aspect of the buying and selling ofsmall and midsize companies. A Step-by-Step Guide to Buying and Selling a Business from aDistinguished Group of Recognized Experts Mergers and Acquisitions Handbook for Small and MidsizeCompanies is the perfect guide for anyone who is selling a businessor hoping to buy one. Each of the nearly 30 contributors is arecognized expert in a particular aspect of the M&A process.These authors explain their topics from the ground up, assuming noprevious experience on the part of the reader and addressing thesubject from every conceivable angle. Areas of discussion include: * Fundamentals of the mergers and acquisitions process * Financial and valuation–normalizing historical financialstatements, utilizing forecasts, valuation methods, and more * Legal aspects–disclosure requirements, due diligence,advisor engagement letters, closing documentation * The role of outside professionals–intermediaries,attorneys, accountants, business appraisers, and machinery andtechnical appraisers * The deal itself–deal structures, creative financingstrategies, a case study, pros and cons of ESOPs, and muchmore
Topics covered include: preparing a business for sale, financial forecasts, valuation approaches, intangible assets, the role of investment bankers, and much more.
About the Author
THOMAS L. WEST is the owner of Business Brokerage Press, a firmthat publishes newsletters and educational materials for thebusiness brokerage and intermediary market. JEFFREY D. JONES is Chairman of Certified Business Brokers inHouston, Texas, and President of Certified BusinessAppraisers. Mr. West and Mr. Jones are coeditors of the Handbook of BusinessValuation, also available from Wiley.
