Preparing an IT support company for sale
Achieving maximum value
Our main activity is selling businesses but we do also offer a range of complementary consultancy services aimed at getting businesses fit and ready for selling. Our objective is to streamline back-office processes as well as focus the business on its most profitable areas to ensure that by the time the business goes to market, it sells quickly and for maximum value.
Our client is an IT support business specialising in Mac environments for the Creative Industry and Hornblower has been working with the owner on a consultancy basis for two and a half years.
What Hornblower Did
We were initially engaged to do a valuation of the business but it quickly became apparent there was a much more interesting way of approaching this project. We turned the exercise around and rather than looking at the business’ current value, we looked at how much the owner would like it to be worth and in what timescales. This created our ‘business goals’ and from these we created a set of performance targets and an action plan.
Our planning gave the owner a visible path to achieving his goal, with clearly defined and tangible milestones en route.
The business goes from strength to strength and, during our guardianship, has grown from an annual turnover of less than £500,000 to one in excess of £1.2 million.
The business is now profitable and is fit and ready for selling whenever the owner is.