Advised on the sale of a regional accounting practice.
The Problem
Our client had a job offer and wanted to sell his client base as quickly as possible to take advantage of the opportunity.
Key transaction objectives included achieving the highest possible price & most favourable terms in 60 days.
There was minimal hand over or transition assistance, due to the principal’s pending employment arrangements as well as the decision by the staff, once the principal’s decision to sell was communicated, to exit the business.
The Solution
JNP Advisory’s strategic review of the client base revealed two thirds of clients were serviced remotely and never travelled to the regional town where the office was located. A discrete marketing campaign was undertaken to offer these clients to prospective buyers nationally. This resulted in a much larger potential buyer pool.
The remaining regional office based clients were offered to local accountants who had the financial and operational capacity to manage a smaller transaction.
JNP Legal completed the legal documents resulting in a seamless and timely execution of the transaction.
The team at JNP Advisory thought outside the box to ensure the best deal could be done in difficult circumstances.
Mark O’Connor
The Outcome
Within 6 weeks the sale of both client books was concluded with limited transition assistance.
A valuation multiple comparable to Sydney metropolitan sales was applied to the larger remotely serviced clients, resulting in a higher overall blended valuation multiple.
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