Sell-Side Representation
Your firm, on your terms.
Most owners spend thirty years building something worth passing on and about ninety days deciding how. We represent sellers through that decision, including the times the answer turns out to be no.
Who we work with
Owner-led AEC firms of roughly twenty to one hundred people, typically $3M to $40M in revenue. Founders approaching retirement without an internal successor. Partner groups where the buy-in math no longer works for the next generation. Firms where one owner wants out and the others do not.
Most of our clients have never sold a business before and will only do it once. That shapes how we work: we explain the mechanics before recommending anything, and we would rather lose a mandate than run a process the owner does not fully understand.
An external sale is one of several paths. Internal ownership transfer, an ESOP, a minority recapitalization, or waiting two years to fix a concentration problem are all legitimate outcomes. We would rather tell you to wait than run a process that underdelivers.
Process
How a sell-side engagement runs.
Durations are typical ranges, not promises. Diligence discoveries and buyer behavior move these more than anything we control.
Readiness and valuation
We assess the firm as a buyer would: backlog quality, client concentration, utilization, licensure and leadership depth, working capital. You get a defensible value range and a list of what would raise it.
4–6 weeksPositioning and materials
Confidential information memorandum, financial model, and normalized earnings. We build the buyer list across strategics, platforms, and sponsors, then agree with you on the names that are never to be contacted.
4–6 weeksMarket outreach
Staged, confidential approach under NDA. Management meetings are prepared and rehearsed. Competitive tension is the mechanism that produces a real price.
8–12 weeksOffers and selection
Indications compared on structure, not just headline number: cash at close, earnout mechanics, rollover equity, employment terms, and what happens to your people.
3–5 weeksDiligence and close
We run the data room, coordinate counsel and accountants, and defend the price through confirmatory diligence, which is where most deals get re-traded.
10–16 weeksTransition
Communication planning for staff and clients, retention structures for key licensed personnel, and integration sequencing through the first hundred days.
Post-closeBuyer landscape
Who buys AEC firms, and what each one pays for.
| Buyer type | What they want | What sellers should weigh |
|---|---|---|
| Strategic acquirers | Geographic reach, discipline gaps, client relationships, licensed staff | Can pay for synergy, but the brand and org chart usually disappear |
| PE-backed platforms | Scale, add-on density, professionalized operations | Speed and structure sophistication; a second exit is coming |
| Financial sponsors | A platform with a management team that stays | Rollover equity can exceed the cash at close in total value |
| Internal / ESOP | Continuity of culture and ownership | Usually lower headline value, highest legacy control |
Start before you are ready.
The most useful conversations happen twelve to twenty-four months ahead of a process, while there is still time to change the outcome.
Start a conversation