This article is Part III of a three-part Successful Dealer series on commercial dealership sales. To read Part II, please CLICK HERE.
The last major hurdle in an acquisition is the seller approving the updated offer price. This can be especially daunting when a price has dropped.
For purchasers, it is important to supplement these changes with an explanation and evidence to support such a decision. Then it’s best to step away and allow the seller to decide.
A purchase agreement may be altered any number of times by both sides until compromises are reached and the document is formally approved. Once it is finalized and OEM approval has been granted, the transaction begins galloping toward the finish line.
This is a busy period for a purchaser.
In addition to finalizing all corporate, legal and financial documents, a purchaser also must develop and implement plans to absorb the acquired company into its business.
These plans include but are not limited to vehicle and parts inventory management, business software integration and updating its management structure.
