Sell-side M&A · ACT Capital Advisors
One buyer is no buyer.
Our sell-side auction process is engineered to create real competition between qualified buyers — not a polite one-on-one negotiation. That tension is what has historically produced roughly a 20% premium in deal price for our clients.
Average premium in deal price vs. single-buyer negotiations
Structured steps from kickoff to closing wire
Typical timeline from engagement to close
The process
Five steps, run on the seller's terms.
Every ACT sell-side engagement follows the same disciplined sequence. The rhythm is what creates the leverage.
Step 01
45–60 daysPre-marketing
Data collection and financial analysis, valuation work, buyer-universe research, and drafting the Confidential Information Memorandum (CIM) and blind teaser. The foundation of the whole process — and where premiums are quietly won or lost.
- Data collection & analysis
- Valuation
- Compile targeted buyer list
- Create CIM and blind teasers
Step 02
45 daysMarketing
We take the opportunity to market under NDA — strategics, private equity, family offices, and industry acquirers — and drive them to submit written Indications of Interest (IOIs). Confidentiality is protected throughout.
- Go-to-market strategy
- Execute confidential outreach
- Secure IOIs from interested buyers
Step 03
15–20 daysManagement meetings
Serious buyers meet the owner and leadership team, often with a site visit. We keep the process on the seller's terms and use these meetings to sharpen the field.
- Meet with buyers who submitted IOIs
- Site visits where appropriate
Step 04
15–20 daysStrategic auction
We identify the favored buyers from the IOI round and set a firm deadline for Letters of Intent. Running buyers in parallel — never in sequence — is what produces the premium.
- Identify favored buyers from IOI submissions
- Set LOI submission deadline
- Negotiate price, terms, and structure in parallel
Step 05
45–90 daysDue diligence & close
Business, financial, legal, and regulatory diligence with the winning bidder — through shareholder approval and closing. We stay in the deal until the wire hits.
- Business diligence
- Financial diligence
- Shareholder & regulatory approval
- Close transaction
"One buyer is no buyer."
A single interested acquirer has no reason to stretch on price or terms. Put three or four credible buyers on the same clock, and the conversation changes completely — that's the entire point of the auction.
Where the premium comes from
- Parallel bids. Buyers know they are competing, not negotiating in a vacuum.
- Deadlines. Firm IOI and LOI dates prevent the process from drifting into a single-buyer conversation.
- Preparation. A clean CIM, defensible valuation, and organized data room let buyers move fast and bid confidently.
- Curation. The buyer list is built for fit — strategics, PE, and family offices with a reason to pay up.
Considering a sale?
Let's put more than one buyer on the clock.
If you're 12–36 months from an exit, the best time to talk is now. I'll walk you through the process, share what a realistic valuation range looks like, and help you decide whether an auction is right for your company.