FAQs
Selling your business to Richmonds: common questions
Straight answers to the questions owners and their advisers ask most. If yours is not here, call or send an enquiry.
All questions
Is there any cost or commitment in talking to you?
No. A first conversation is free and confidential, and you are not committing to anything. All discussions are subject to contract, so nothing is binding until contracts are signed.
Will my staff or customers find out?
Not from us. We sign a confidentiality agreement before you share any figures, and your staff and customers only hear about a sale when you decide to tell them.
Do I need a broker or adviser first?
You don't need one to start talking to us. You are welcome to bring in your accountant, solicitor or broker at any stage, and both sides' advisers take part in due diligence.
How do you value a business?
We look at sustainable profit, how much income comes from recurring planned maintenance contracts, the spread of customers, your accreditations and the strength of the team. Our indicative offer is written down and sets out the value and how it is structured.
How is the price paid?
Offers are normally a mix of a payment at completion and further payments over the following years. We explain how every part works, and agree it with you, before anything is signed.
How are acquisitions funded?
Each acquisition is funded from Richmonds' own resources and, where a deal needs it, bank or specialist acquisition finance. Any payments due after completion are part of the agreed price and written into the sale contract. We show you how a deal will be funded before you commit, and your advisers can check it as part of the process.
Do I have to stay on after the sale?
We would normally expect six to twelve months, to introduce key customers and hand over knowledge. The plan is agreed with you before completion.
Will my business keep its name?
It can. Your business can keep trading under its own name as part of Richmonds, so customers and staff see continuity.
What happens to my LCA registration or BAFE certification?
In a share sale the company that holds them stays the same, so they normally continue, and we tell the LCA and your certification body about the change in ownership. Read our guide.
What size of business are you looking for?
Usually turnover from £500k with no upper limit, consistently profitable, with a strong base of planned maintenance contracts. These are guidelines, so if you are close, we would still like to hear from you.
How long does a sale take?
Deals like this usually take three to six months from first conversation to completion. You can pause or stop at any point before completion.
I'm an adviser with a client who might fit. Can I get in touch?
Yes. Accountants, solicitors and brokers are welcome. See information for advisers, use the enquiry form, or call +44 (0)20 7754 3554.
This page is general information about how Richmonds works. It is not legal, tax or financial advice, and nothing on it is an offer to buy any business. All discussions are subject to contract. Take advice from your own accountant and solicitor, and see our website terms.
Start a confidential conversation
Sanjeev reads every enquiry personally. There is no cost and no obligation to talk, and we sign a confidentiality agreement before you share any figures.