Mill Creek Partners (MCP) is a leading Philadelphia business broker and M & A firm, operating throughout Eastern Pennsylvania, South Jersey and Delaware. Over two decades, Mill Creek Partners has sold hundreds of small to medium sized businesses, while employing a unique system while maintaining strict confidentiality at all times. Mill Creek also represents individuals and companies looking to acquire businesses, so-called “buy-side” engagements.
Purchase an Opinion of Value. A well-prepared Opinion of Value will help to set a reasonable asking price for the business, determine whether it is in fact the right time to sell, assist in identifying bank financing for buyers so that the need for seller financing is minimized and will help seller attorneys and accountants in tax planning.
Hire a competent, experienced intermediary. There are many reasons to do so but the key ones are that (a) he or she can help set a reasonable asking price, (b) will be able to deal with dozens of buyers while maintaining confidentiality and will be able to narrow the field down to legitimate buyers, (c) will be able to negotiate dispassionately in your behalf, very difficult when things get sticky (d) understands due diligence and how to manage it successfully and (e) has the experience to develop and review legal documents to facilitate closing of the transaction. And it is critical that one hire a local business broker who understands the local market – a Philadelphia business broker and M & A professional.
Be upfront with problems and issues. If they are revealed late in the process they can be deal breakers.
Go with the buyer who you like and trust. There are a multiplicity of reasons including financing and transition of the business which mitigate against simply taking the highest offer. And keep in mind that the structure of the deal is as important as the total price. A Philadelphia business broker and M & A professional will have local banking contacts critical to financing a transaction.
Continue to operate the business as though it will not sell throughout the sales process. A fall off in business will kill a deal or result in a having to take a lower selling price.
Keep the sale confidential. Do not share your plans with your employees.
High-end kitchen and bathroom design center, 25 years in operation, located in Upper Bucks County, Pennsylvania. Included real estate, 2 showrooms, one of which is 10,000 square feet of display space.
“It’s an enormous task to buy a business and you made it easier for us. We love our new business and it has exceeded our expectations!”
- A satisfied buyer
“I couldn’t have expected more from MCP and Ron Hoxter in terms of efficiency and competence in selling the business I started and grew for most of my life”.
- Business Seller
“MCP and its staff executed beautifully. As a result, a reasonable transaction was competed. I look forward to the future of the company under new ownership”
- Buyer and Seller of Pumping Package Manufacturer Located in Lower Bucks
“I wanted to thank you for all your hard work in helping us acquire Salon ____. Jerry and Carol were fortunate they had you to sell their business. I don’t know if someone else would have been able to get a deal done in such a short time. I am still amazed that we first saw the business on 6 January and settled on it on 6 February.”
- Buyer, Manufacturer of Salon Equipment
“Mill Creek Partners did a wonderful job finding, negotiating and closing the deal on my business. Your work was timely and done professionally.”
- Convenience Store Owner
“I would recommend Mill Creek without second thought to business owners. No other broker in the Delaware Valley could have worked through the details of the sale process with the same level of knowledge and professionalism.”
- Indoor landscape maintenance company
“Setting the right price for my business, finding the right buyer, negotiated through closing, all in 75 days. Mill Creek more than exceeded my expectations.”
- Laundromat owner
“I questioned whether my business would be sold and if so for how much. You made it a pleasure to go through the process and acted in a 100% positive and professional way. I never doubted we would close the sale. And I received my asking price. Now I have the comfort to put this behind me and enjoy the retired life.”
- Manufacturer of Equipment and Cabinetry for Beauty Salons
“Thank you again for your professionalism and hard work in finding a buyer for our business. I have worked with other brokers and few of them put in the time and effort in finding the right buyer as you did. You brought buyers to me who had the information they needed to evaluate my business. Any they were qualified buyers, very important to me as I continued to run my business during the sale process.”
- Retail store owner
“I questioned whether my business would be sold and if so for how much. You made it a pleasure to go through the process and acted in a 100% positive and professional way. I never doubted we would close the sale. And I received my asking price. Now I have the comfort to put this behind me and enjoy the retired life.”
- Steel fabricator and materials handling equipment company
“Mill Creek knows how to manage the business sale process. Its brokers adhere to the highest levels of integrity and professionalism. My business was sold to the right buyer, important to me as I had employees who I have valued over the years and, at the right price.”
