Providing the best, unbiased M&A sell side advice to our clients is the foundation on which Candlewood Partners was built. Since the decision to sell a business will be one of the most important decisions contemplated by our clients, our mission is to provide the best and most current insights in helping clients with their decision to sell – now, in the future, or never – and if selling, under what type of structure. With more than $20 billion of transaction value among the Candlewood senior bankers, to clients around the world, we have both a wide and deep breadth of experience to bring to every transaction.

Our sell side engagements have taken many different forms, including:

• Sale to a private equity firm (both full and fractional sales)
• Sale to a strategic buyer (horizontal or vertical expansion)
• Sale to individuals or family offices
• Sale to management
• Sale to employees in an ESOP transaction
• Go private transaction

Within the transaction types above, we have advised on a wide variety of go-to-market options, including broad auction processes (200+ potential buyers approached), targeted auction processes (20 to 50 potential buyers approached), and focused processes (one to five potential buyers approached). Each process is tailored to the desired outcomes of the client and every transaction is different.

The two areas of commonality with each transaction are, one, Candlewood senior professionals “roll up their sleeves” and work every transaction with deep commitment and conviction every step of the way. And, two, each transaction engages the following steps to ensure the best outcome for the client:

• Valuation – engage four or more quantitative analyses to estimate the range of likely value to be placed on the client company as indicated by the analytical results combined with current market conditions
• Market Preparation and Buyer Identification – identify all potential buyers and develop an approach to each type of buyer. Once that approach has been defined, prepare the presentation materials regarding the client company that both informs the potential buyer and positions the company to maximize value through the process.
• Growth Strategy Preparation – one of the most important considerations in the process is to lay out the strategic growth plan for the company. Candlewood has a unique ability among investment banks to help develop and articulate the growth strategy with the management teams of each client company. By going to market with a growth strategy that is implementation ready the client company is best positioned with a potential buyer that can visualize what the company can become over the next three to five years and how that investment will positively impact the buyer.
• Market the Company – pursue each potential buyer, upon their completion of a confidentiality agreement, with prepared marketing materials that essentially amount to a comprehensive book discussing the company’s history, management team, markets, products, competitors, financials, prospects, and growth strategy.
• Identify the Winning Buyer – another unique feature engaged by Candlewood is its ability to identify the right buyer for each seller. Sometimes, the right buyer is the one offering the highest value. For some sellers, especially those selling only a portion of their business, the right buyer is the one that provides the best balance between current and long term value – and one they can visualize working with closely for the next several years without getting angry on their way to work every day.
• Due Diligence, Negotiation, and Closing – Candlewood works very closely on these very important final steps of the process. Experience and creativity, our bedrock, is what separates Candlewood from other firms throughout this final phase of each engagement.