Transworld Business Advisors gives business owners an exciting start to 2020. By supporting the sale process. Both of business broker Eric Siecker’s clients, have exciting new ventures to focus on.
Eric Siecker, owner of Transworld of Peterborough, recently helped to close the deal on a signage business. “This was an independent business, which prints all types of signage, architectural film and vehicle wrapping, supporting businesses with their brand and advertising.”
The business owners were looking to emigrate to Australia. They approached a signage franchise about their future, ready for when they made the move. As a result of this connection, they were advised to speak to Transworld Business Advisors who could support them with the sale of their UK-based business.
“The couple who were sent to me were an absolute pleasure to work with,” Eric says. “They were excited about their future, and appreciated the confidentiality of my involvement. They had to balance various elements as they prepared to emigrate, including having two houses, as well as their business, to sell. It was important for us to keep things off the radar, until they were ready to publicise their plans.”
Eric set in motion Transworld’s proven model for business sale, and knew exactly how to advertise the business, quietly and confidently. “The buyer came through one of my finance broker contacts,” Eric explains. “He had other businesses, and knew exactly what he was looking for. This new venture was the perfect complement to his media and marketing companies. Of course, this meant he was reasonably tough during the negotiations, but he was very fair. The whole deal process, involved a really good group of people, making it a smooth process.”
One of the biggest challenges Eric supported both parties through, involved the payment terms. “With the sellers emigrating to Australia, they were initially against deferred consideration. They wanted a clean break, without worrying about a business on the other side of the world, when they moved. So, our financing discussions were reasonably tough, but we found a mutually suitable deferred consideration, which gave the seller peace of mind, knowing exactly what and when to expect payments. This is what I wanted to achieve for them.”
Eric was able to build a great relationship with both parties, and they were able to share concerns they had with him, as they arose, rather than dwelling on them. This positive connection made it easier for him to keep all parties focused on the deal, even during more difficult discussions, and the deal closed for £300,000. “My Clients knew they could trust me. I love knowing I have been able to support the dreams of both parties, helping to give them a brilliant start to 2020.”