PHEAdvisory
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Market reality

40 to 50% of SME sales fail. The reasons are rarely tied to the quality of the company: non-normalized accounts, excessive dependence on the founder, client concentration, fragile governance.

A serious buyer and their audit firm will track precisely these points. Our mission: anticipate, correct, or document them before due diligence turns them into discounts.

Our 3-phase methodology

1 Upstream preparation

This is where valuation is won or lost. We work on:

  • La normalisation des comptes : retraitement des éléments non récurrents, clarification de l'EBITDA réel.
  • Le Mémorandum Vendeur : le document qui défend votre valorisation auprès des acquéreurs potentiels.
  • La valorisation objective : multicritères, documentée et défendable.
  • L'audit préalable vendeur : identifier les risques avant l'acheteur.

2 Market approach process

  • Qualified targeting of buyers according to your strategy.
  • Absolute confidentiality management with structured NDAs.
  • Process facilitation and piloting of the data room.
  • Maintaining competition to preserve your leverage.

3 Negotiation and Closing

  • Defending valuation against capricious audit adjustments.
  • Intransigent coordination of your lawyers, notaries, and accountants.
  • Brutal negotiation of the Asset/Liability Guarantee (GAP) and earn-outs.

Frequently Asked Questions

Should I inform my employees before the sale?

No, and especially not prematurely. Internal communication management is a critical point we address from the preparation phase. There is a precise timing to respect, both legally and strategically.

How long does a well-prepared sale take?

On average, 12 to 18 months from the decision to sell to closing. Rushing this timeframe is one of the most costly mistakes.

Do I lose control of my company during the process?

No. You remain the decision-maker at every step. Our role is to advise and execute — never to substitute you.

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