KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Comment on How long should it take to sell my alarm company
July 25,  2024
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Comment on How long should it take to sell my alarm company from article on July 11, 2024
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Ken,
        In response to the inquiry, “How long should it take to sell my alarm company?” I would say that is most often determined by the seller, not the buyer.  
           Alarm Financial Services has been involved in hundreds and hundreds of acquisitions over the last four decades, as lender, buyer, seller and as advisor to buyers and sellers, and our observation is that many companies are not ready to sell when they decide to sell.  The owner may be ready mentally and emotionally, but not logistically.  
            Often they have not prepared the performance reports, financial statements, contracts (of course) and other information a buyer wants to see in order to make a fair offer and move quickly through the due diligence process.  
          We are always happy to talk with dealers who are unsure what information they need to prepare for a sale   And the bonus, even if they do not sell right now, the exercise of analyzing their company will result in day-to-day business improvements.
          As always, thank you for proving this important forum.
Jim Wooster, Jr
Alarm Financial Services, Inc.
866-845-2678 ext 1200
415-509-4750 cell
jfwooster@alarmfinancialservices.com
www.alarmfinancialservices.com
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Response
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            Sellers who aren’t ready do come in several varieties:

·         Really not emotionally ready to sell or complete the transaction

·         Records in such disarray that they are not prepared to respond to any due diligence requests

·         Extraneous circumstances such as liens, debts or other issues that would compromise a transaction

     Sellers and buyers are often perplexed by the due diligence process, which surprises me.  Alarm Financial Services does provide a valuable service regarding assisting with due diligence, for either party.  It’s often a laborious taste when sellers aren’t organized or have time to cooperate, or buyers are [in my opinion] completely unreasonable in their investigation, asking for information that is simply irrelevant to a buyer owning the accounts. 
    K&K will broker and will represent seller or buyer but rarely gets involved with due diligence except in limited ways of reviewing form agreements used by the seller.  K&K also will know how to properly structure the deal within the constraints of the wishes of the parties.  For assistance with due diligence and financing call Jim Wooster.
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com