The team at iBoss have a very broad range of skills and experience in both large and small businesses. As a result, we have increasingly become involved in more major business structuring and development projects, both with and without specialist partners in areas we are not qualified to cover. One very good example of the type of projects we are taking on successfully is as follows:
Project Med-Tech
Towards the end of 2021 one of the directors of iBoss was approached by a husband and wife Team, who he had known for some time, and who owned a Med-Tech company in Wales. They were considering selling their business as they are in their 70’s and genuinely wanted to retire within a two year period.
They approached the iBoss director informing him that they wanted to put the business up for sale and sent through a mandate outlining what the value they were looking to achieve and conditions thereon. Whilst the iBoss director recognised that the business was a ‘little gem’ it was going to very difficult to achieve the mandate expectations as proposed and declined the opportunity to take on the project.
However the directors were insistent that they wanted the iBoss director to help them and he agreed to re-consider if they were prepared for him to work alongside a credible corporate finance firm as he felt the company needed to review the information they currently had to hand and work to produce information that could be included in an Sales Information Memorandum that truly reflected what a gem of a business it was.
A meeting was held with the directors, the iBoss director and the proposed Corporate Finance partner. An agreement was made for iBoss to help the directors prepare the business information needed to enable the Corporate Finance company to then market the business for sale.
Fundamentally the business, being a family run entity, had not produced a level of detailed information beyond that required to produce annual accounts and for tax purposes. However, more detailed information would provide an insight into its consistent and growing profitability, investment in R&D and new product development, all of which illustrated how much more valuable the company was than one would be able to identify by just reviewing historical accounts. They have unique products with contractual recurring income from exclusive consumables and service that were key to their customers being able to operate these unique products.
Working together with the Directors and the appointed Corporate Finance partner the company is now on the market for sale and has already attracted significant interest from potential purchases in the UK , Europe and the USA
The directors at iBoss, because of their experience, appreciate that they cannot undertake all projects that come across their desks but may be able to support projects in tandem with other professionals, be they Corporate Finance, solicitors, accountants or restructuring and insolvency specialists .
If you would like to find out more about the services available from iBoss or, in fact, want to buy a successful Med-Tech company, contact John Landers on 07809 361664 or e-mail john@theiboss.co.uk.
iBOSS supporting business owners – Again!