How Long Does an M&A Process Actually Take?

Plan on 6 to 12 months from engagement to closing. Some go faster; some take longer. Here's the honest breakdown.

Phase 1: Preparation (4–8 weeks)

Gathering financials, building the marketing materials, identifying and researching the buyer universe. This phase is entirely in your control — the faster you produce clean information, the faster we move.

Phase 2: Marketing (6–10 weeks)

Confidential outreach to buyers, teaser and CIM distribution, management meetings, and collecting indications of interest. This is where a good process creates competitive tension.

Phase 3: LOI and exclusivity (2–4 weeks)

Negotiating letters of intent, selecting the buyer, and signing exclusivity.

Phase 4: Due diligence (6–12 weeks)

This is usually the longest phase and where deals most often stall. Financial, legal, tax, HR, environmental, IT — buyers will look at everything. Preparation up front pays back here.

Phase 5: Documentation and closing (4–6 weeks)

Purchase agreement negotiation, disclosure schedules, closing conditions, and funds transfer.

What slows deals down

Messy financials, undisclosed customer concentration, litigation surprises, key employees threatening to leave, or an owner who can't step back from operations to focus on the process. The best thing you can do to move fast is prepare before you launch.