This journey might unfold over a single meeting or may require multiple discussions. The first step in our process is to grasp your aspirations and reasons for contemplating the sale of your business. Whether you're eyeing retirement or eager to explore new ventures, our goal is to engage in a deep and comprehensive dialogue about your objectives. This understanding enables us to strategically position your company for acquisition, whether the perfect buyer turns out to be Linear Junction, another business, a private equity firm, a family office, or a different entity altogether that is ideally suited to carry forward your legacy.

To ensure your business aligns with our criteria for a successful acquisition, we require current versions of the following documents for a comprehensive initial evaluation:

• Balance Sheet

• Income Statement

• Accounts Receivables (last 60 days)

• Accounts Payables (last 60 days)

• Corporate Documents (showing ownership)

The documents listed above are essential for an initial assessment. Depending on the specifics of your business, additional documentation related to taxes, banking, and other relevant areas may be requested.

After understanding the seller's desired sales price and collecting necessary documents, a comprehensive evaluation is conducted to determine the fair market value of the business. This involves open communication to precisely identify the optimal offer. If the assessment aligns with the acquisition criteria, a Letter of Intent (LOI) will be issued, signifying serious intent to proceed with the acquisition.

Following the acceptance of the Letter of Intent (LOI), the due diligence process is initiated. This involves a comprehensive examination of all facets of the business. During this phase, it is common to request additional information, documents, and access to ensure a thorough review. The due diligence process is a standard part of the acquisition process, allowing for a detailed analysis of the company's financial, legal, and operational aspects. This step is crucial in validating the initial assessment and ensuring that all relevant information is considered before proceeding with the acquisition.

Once the due diligence process concludes satisfactorily, the next step in the standard business acquisition process is to proceed towards closing the deal. This involves establishing a mutually agreed-upon closing date and drafting a comprehensive Purchase Agreement (PA) that outlines the terms and conditions of the acquisition, including the final purchase price, payment structure, transfer of assets and liabilities, employee retention, and any other relevant terms discussed during the negotiation process. On the closing day, all necessary documents, including the finalized Purchase Agreement, will be signed by both parties, and any required payments will be transferred, officially marking the successful completion of the transaction and the change of ownership.

After the closing day, a transition period begins, during which the ownership of the business is transferred from the seller to the buyer. This transition period typically ranges from three months to a year, depending on the complexity of the business and the specific terms outlined in the Purchase Agreement. During this time, the buyer works closely with the seller to ensure a smooth and efficient transfer of ownership, minimizing any disruptions to the business's operations. This may involve transferring licenses, updating contracts, notifying relevant stakeholders, and providing necessary training or support to the new management team. The goal of the transition period is to facilitate a seamless changeover and set the stage for the business's continued success under new ownership.