Company Sales: The Marketing and Buyer Contact Phase

Company Sales: The Marketing and Buyer Contact Phase

Once preparations are complete, the sales process moves into the next stage: presenting the company to carefully selected potential buyers. Strategically identifying and approaching the right buyers increases competition and ultimately creates the best conditions for a successful transaction.

Identifying the right buyer 

If more than one buyer is to be contacted — which is often recommended — a thorough buyer analysis should be conducted. This involves identifying and evaluating potential buyers across different categories. The goal is to find those with the strongest strategic fit and the financial capacity to execute the deal.

Categories of buyers

In a company sale, different types of buyers have distinct advantages and drawbacks. Common categories include:

• Strategic buyers – Companies in the same or related industries seeking to expand their offering, gain market share, or enter new geographies. They are often willing to pay a premium for synergies and long-term strategic value.
• Financial buyers – Private equity firms, investment companies, family offices, and other financial institutions. Their goal is to grow and professionalize the company, then exit with a return. They typically have a medium-term investment horizon.
• Industrial buyers – Companies in adjacent industries looking to diversify their operations, strengthen their market position, and realize operational synergies.
• Individual buyers – High-net-worth individuals who acquire businesses either as active or passive owners.

Understanding each buyer category — and their drivers — is key to optimizing the process and the terms of sale.

Strategic rationale

The strongest buyers usually have a clear strategic rationale for the acquisition. These may be industry peers looking to expand, companies diversifying into new segments, or investors seeking growth opportunities in your sector. A compelling rationale often translates into a higher willingness to pay, since the deal creates synergies or opens up new market opportunities.

Financial capability

It is equally important to assess the buyer’s financial strength. Beyond simply funding the purchase price, the buyer must have the resources to develop and integrate the company after acquisition. Evaluating financial capacity helps reduce the risk of a failed transaction later due to lack of financing.

Information materials: teaser and information memorandum

Once potential buyers have been identified, the next step is to prepare professional information materials to present the company in a clear and attractive way.

• Teaser – A short, anonymous document that gives a high-level overview of the company, designed to capture interest without revealing its identity.
• Information Memorandum (IM) – Shared only with buyers who sign a Non-Disclosure Agreement (NDA). The IM provides an in-depth description of the business: operations, organization, product and service offering, market, competition, financials, and growth opportunities. A well-prepared IM is critical to spark genuine buyer interest and demonstrate credibility.

Contacting buyers

With the target list and materials in place, it is time to reach out to potential buyers. This phase requires both experience and strategic finesse. The objective is to create competition among buyers while carefully evaluating their level of interest and ability to complete the deal.

Key considerations include:

• The buyer’s strategic objectives
• Their acquisition track record
• Their post-acquisition plans for the company

Understanding a buyer’s intentions helps you select not only the best terms, but also the partner most likely to continue developing the company in a sustainable way.

Negotiations and next steps

Once genuine interest is established, the process moves to more formal negotiations and the submission of indicative bids. This stage covers key terms such as purchase price, payment structure, and potential employment agreements for key personnel.

The goal is to reach a Letter of Intent (LOI), setting out the main principles of the deal before entering full due diligence. Whether to negotiate with one or several buyers at this point depends on the circumstances and strategic judgment.

At FLB Partners, we support entrepreneurs and business owners through every stage of the sales process — from preparation to closing. Contact us today to discuss how we can help you achieve a successful transaction.