RTK Instruments Limited

BCMS Corporate Client interview: RTK Instruments Limited

Activity: Designer and manufacturer of process alarm products, industrial instrumentation equipment and interface devices.

Name: Tim McLeman, Managing Director

Why did you decide to sell your business?

‘I was looking for a change of lifestyle, to give myself more time and the chance to do something different’.

How did you find out about BCMS Corporate and why did you select us to sell your business?

‘I had already made the decision to sell and was in discussions with interested parties already. I had heard of BCMS Corporate many years ago and when their mailer was delivered promoting a seminar in LeedsI went along. The discussions and negotiations were already becoming time consuming, complex and lengthy and it made sense to let BCMS Corporate manage this for me.’

Did you consider any competitors of ours and if so why did you not use them?

‘No. The speed of the sale was important to me and I didn’t want to spend more time assessing various M&A companies. The seminar provided a quick, simple and acceptable solution for me.’

How did you feel the sale process was managed?

‘Confidently; the whole process was managed much better than I could have done it. I think that removing the emotional element from the negotiations is a great advantage. There were times when I would have simply accepted a ‘reasonable’ offer but my Deal Leader rejected it. With three strong acquirers all competing and bidding for my business I achieved a price far higher than I would have expected or originally accepted.’

How important was confidentiality?

‘Very, if even one person had found out it would have spread through the business very quickly and caused a great deal of problems.’

Did the sale process affect the everyday management of your company?

‘No.’

Are your staff staying with the company and was this an important factor in the sale process?

‘Yes, the staff are all staying.’

Will you have any involvement in the business post sale and if not what does the future hold for you?

‘I am also staying on, albeit just one day a week now.’

Would you recommend BCMS Corporate’s services to another company considering selling?

‘Yes, I would certainly recommend that they talk to you.’

Did you feel the sale price met with your expectations?

‘Yes, it was actually much more than I would have expected or originally accepted.’

What is your overall opinion of BCMS Corporate?

‘Very good and very professional. Your experience in the sale process was critical.’