Most of our clients will only ever undertake one business sale, but exactly what does a serial deal-maker think of the BCMS Corporate approach?
Paul Daniels is what some would call a serial entrepreneur, he admits that what he is best at is seeing solutions to problems, developing those solutions to the point where they have been commercialised and their value has been proven, before selling that business and moving on to his next challenge.
Like most serial entrepreneurs, by necessity, Paul has also become a serial deal maker, going through the business sale process on a regular basis. He explained, “My approach to deal making in the past has been almost intuitive, selecting the buyer and negotiating the best deal. When we set a company up we often had a buyer in mind – typically this approach involved little or no competition.”
Paul was introduced to BCMS Corporate at the point where he was considering an exit from two of his companies and was persuaded to at least investigate the BCMS Corporate approach. The companies operated in two very different sectors, traffic controls and advertising. “I have experience of many ‘competitors’ to BCMS Corporate, for me BCMS Corporate had the best track record”.
After an initial discussion, Paul was invited to our Head Office in Kingsclere (we like to ensure that all our prospective clients at some point get a chance to see for themselves the scale of our operations). Paul said, “I was also persuaded by the resources deployed by BCMS Corporate on behalf of their clients. Their research department was substantially larger than any I had encountered previously. He continued, “I was also impressed by a team approach, each member undertaking particular specialisms, each working to their strengths.
The logic of the BCMS Corporate approach was compelling so we decided to place both mandates with BCMS Corporate and both companies sold at a price we were extremely happy with. Crucially, as BCMS Corporate assured us, the process created competition and brought to the negotiating table some very ‘unlikely’ competing buyers we would ordinarily never have considered – in
fact they delivered to the letter, exactly what they promised.” Despite being a serial deal maker, Paul Daniels’ motives are still very much aligned with those of the majority of our clients. He is mostly involved with his businesses from start-up through to sale and as such, there is a very strong bond between him and his staff. This was very much a factor in selecting the successful bidder in each case.
The traffic controls business sold to a ‘trade’ buyer, the bid was actually the third highest but it was the best fit, in Paul’s view, for the company and staff. The advertising business sold to a Private Equity buyer with Paul Daniels retaining a significant stake by re-investing some of the sale proceeds back into the business.
You can listen to Paul Daniels’ account of his experience by clicking the ‘Testimonials’ link.
