Business Exit & Sale

This is for owners of aerospace, defence and advanced-manufacturing businesses who intend to sell, whether that is next year or in five years. We work on the seller's side: making the business ready to withstand a buyer's scrutiny, then structuring and negotiating the exit.

Most owners come to us somewhere between "I know I will sell eventually" and "someone has approached me". Both are workable starting points. The earlier one is usually worth more money.

Getting ready before anyone looks

A buyer's offer reflects the risk they perceive, and perceived risk is largely a function of how well the business can explain itself. Preparation is mostly about removing the reasons for a buyer to discount.

Typical work in this phase:

• Owner dependency — identifying the decisions, relationships and knowledge that only sit with you, and moving them into roles, documented processes and a second tier of management
• Numbers a buyer can rely on — clean, consistent management accounts, defensible margin analysis by product or contract, and a clear picture of normalised earnings and working capital
• Quality and approvals — AS9100 or BS EN 9100 certification, audit history, approvals and customer scorecards in good order, because in this sector they are part of the asset
• Contracts and customer concentration — knowing which revenue is contracted, which is goodwill, and how a change of ownership affects each
• Documentation and housekeeping — leases, IP, licences, employment contracts and H&S records, all of which get requested the moment heads of terms are signed

Anna Lavender-Moore leads the quality-systems side of this. As a BS EN 9100 Lead Auditor and Aerospace Experienced Auditor, she looks at a buyer's quality diligence in advance from the auditor's seat.

Getting the operational story straight

Buyers in this sector pay attention to whether the operation is under control. Delivery performance, scrap and rework, capacity, lead times and labour stability all feed the valuation conversation, and a plant that visibly runs well supports a price in a way a spreadsheet alone does not.

Doug Allen's 25+ years in manufacturing operations — foundries, then Goodrich Aerospace and Moog as Head of Facilities & Continuous Improvement — is spent here. The aim is not cosmetic: it is that the things a buyer will probe are genuinely better by the time they probe them.

Structuring and negotiating the exit

When you go to market, the questions become who the plausible buyers are, what each is really buying, and what deal shape works for you. Headline price is only part of it: how much is paid at completion, how much is deferred or tied to performance, what warranties you give and what happens to you after the deal all affect what you end up with.

We sit alongside you through diligence, manage the information flow and hold the process to a timetable — the stage where deals most often drift. Having led acquisitions from the buying side, Doug knows where a buyer will push.

Exits should always be structured with professional legal, tax and financial advice; we work with your advisers, or bring in specialists from our network across corporate finance, accountancy and law.

Engagements are scoped to results, not retainers.

Frequently asked questions

How far ahead should I start preparing?

The more notice the better. Work on owner dependency, management accounts and operational performance takes time to show in the numbers, and a buyer wants a track record rather than a recent improvement. A couple of years out gives that room, though useful work can be done on a shorter horizon.

I have already had an approach. Is it too late to prepare?

No, but the sequence changes. We would look at what the approach actually is, where the obvious diligence weaknesses are, and what can be addressed before information goes out — while making sure you are not negotiating alone against a buyer who does this regularly.

Will you tell me what my business is worth?

We will model a defensible range with you and explain what drives it, which is more useful than a single number. Formal valuations and tax advice come from the appropriate professionals, and we will say when you need them.