Company forwarding: locate and select a buyer

Verified 14 November 2023 - Legal and Administrative Information Directorate (Prime Minister)

Find a buyer is a critical step that involves making your company known and communicating your intention to sell. You will therefore have to define your criteria for selecting the buyer and ensure the confidentiality of your project.

The announcement of transfer must be sufficient comprehensive and attractive to trigger the desire of the candidates to contact you.

On the other hand, a vague and unfleshed announcement risks putting off potential company buyers.

To enhance your listing, the description of your company must be based on the following information :

  • Geographical location
  • Industry sector
  • Turnover
  • Potential for development
  • Number of staff in the company
  • Commercial area
  • Cost of rental property
  • State of competition
  • Condition of equipment and materials
  • Reason for divestiture (retirement, new opportunity)
  • Minimum Intake Required for Recovery

Warning  

A divestiture announcement must remain anonymous. It is important to preserve confidentiality company so you don't worry your customers and suppliers.

In order to be effective, the announcement of the transfer of a company must be broadcast to a maximum of serious candidates within a limited period of time.

In addition to your personal and professional network, you have many broadcast channels to post your listing:

  • Takeover Bases and announcement scholarships company to be taken over
  • Consular Chambers : Chambers of Commerce and Industry (CCI), Chambers of Crafts and Crafts (CMA), Chambers of Agriculture (CA)
  • Associations : Business owners and buyers (CRA), Club Entrepreneurs des Arts et Métiers (CLENAM)
  • Private actors : FUSACQ and the Compagnie nationale des conseil en mergers et acquisitions (CNCFA)

Please note

France Num explains how to find an ad exchange tailored to your needs.

Optionally, you can have a buyer search conducted by an agent company transmission expert. This agent may be a firm specializing in the sale of goodwill or in the merger and acquisition of SMEs, a public accountant, a lawyer or a notary.

The agent will put you in touch with candidates for the takeover. Its remuneration system is generally based on a percentage of the property sold.

BPI France provides a company exchange :

Company Exchange

The CMA: titleContent provides a national grant for creators, buyers and sellers in the craft sector.

National Stock Exchange for Creators, Buyers, Craftsmen

Buyer Profiles

Several buyer profiles can respond to your offer:

  • Family members or friends
  • Employees
  • Customers
  • Vendors : to integrate your company into their production chain
  • Competitors : to increase their market share
  • Third company

Warning  

Getting close to a competitor can prove to be risky (dissemination of confidential information) in the event that the transfer does not succeed.

Criteria for the selection of the buyer

You can base the selection of your buyer on different criteria :

  • Personal Criteria : family situation, age, personality of the purchaser
  • Professional Criteria : market knowledge, company development strategy, previous employment situation
  • Financial criteria : acceptance of the proposed price, financial contribution, investment alone or in combination

For each criterion in your list, it is up to you to determine whether it is unavoidable, recommended, or simply optional for recovery.

You are not required to communicate the list of your criteria to the candidates.

Please note

Depending on the sector and the size of your company, it may be necessary to define a minimum of technical skills vital to recovery. This is the case for those sectors of industry and engineering that require particular expertise.

Sensitive Information

Meeting with potential buyers involves exchange of sensitive information :

  • Financial data
  • List of customers and suppliers
  • Strategies and perspectives for evolution
  • Company technological innovations (not yet patented)

The disclosure of this information is essential, it allows effective negotiation and in full transparency.

However, this information must be protected, in particular with regard to competition.

Confidentiality Agreement

To ensure this protection, it is essential that you require prospective buyers to sign a confidentiality agreement. This agreement will apply for the duration of the negotiations.

The confidentiality agreement obliges the recipient of the information to to keep secret and not disclose it to any third party without your written consent.

It is important to mention the following information in the agreement:

  • Confidential information
  • Authorized persons to receive, communicate and transmit information and under what conditions
  • Duration the obligation of confidentiality

Violation of this Agreement shall result in the payment of damages for the benefit of the victim.

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