Today we’ll look at a Presser & Co sister company called BeeReadi.
Presser & Co’s “be ready to sell” product was born during COVID, when the speed and rhythm of M&A transactions seemed to get faster.
During COVID times, buyers became less tolerant of sellers who couldn’t quickly provide a fully de-bugged 3-way model that could be updated every month. Buyers could not afford to engage with sellers for long periods of up to 3 or 4 months, only to find themselves outbid. So they often rejected opportunities to bid for deals if the sellers were perceived to be ‘amateur’ and not well organised.
What’s more, sellers:
who delayed the preparation of a 3-way model,
who didn’t get it quite right,
whose model didn’t balance (remember assets = liabilities + shareholders equity),
whose model broke when attempting to update it with new trading data,
received lower bids.
Buyers reasoned that if a seller couldn’t get their financials out quickly and accurately, there’d likely be similar problems throughout the entire seller’s business.
In response, Presser & Co launched BeeReadi. With BeeReadi an experienced M&A professional builds your 3-way model, integrating with your accounting system to deliver you a new and freshly updated 3-way spreadsheet each month after each close-of-books period. This service solves each of the above listed issues that sellers were experiencing.
If you want to be ready to sell, but don’t want to engage with buyers just yet, talk to us about getting this part of your sales preparation done way before any buyer needs to see it.