INDUSTRY
“I’m an expert in my sector and so it made sense to use experts in the business sale sector.”
They say that the thing about common sense is that it’s not very common. Thankfully, the owner of CIC Photographic, based in Stoke-on-Trent, had common sense in abundance when considering how best to sell his full-service creative agency.
After scaling up creative agency CIC Photographic over many years, the owner, Robert Pearson, was ready to move on from the company he’d founded. Without direct experience of buying or selling a business, he began the search for an expert to help him manage the successful sale of the business.
Enter Avondale who, from the outset, explained all the stages involved in the sale process in a clear and professional manner. “When you’re faced with an alien process, simplification is key. Avondale, explained the step by step process without resorting to an endless stream of business jargon and string of acronyms” said Mr Pearson.
Reassured by our skill, knowledge and experience and confident of a successful outcome Mr Pearson took the decision to work with Avondale. Launching the sale process, our research team immediately began confidentially marketing the business to key relevant buyers, identified through painstaking research.
This marketing generated considerable interest from a range of buyers, with Blink Photo, a leading Lancashire-based commercial photography studio, emerging as the most likely buyer.
Whilst working for CIC, we also assisted Blink Photo with their search for funding by providing key contacts at financial organisations we work with. And with the funding secured, our lead consultant, Sunita Meigh, ensured the final stages of the sale were completed by overcoming a number of small but important hurdles in the process.
“From our first exploratory call to the final completion of the sale, Avondale was always on hand to provide advice and direction, without which I would have been lost. The team’s M&A experience gave me the confidence to know I was getting the best deal. They led us through the IM preparation, discovery and disclosure processes with authoritative control. Without this professional guidance, my chances of getting through the sale process would have been slim to none.”
Robert Pearson, Ex CEO, CIC Photographic Limited
