If you are ready to sell your court reporting business, it is important to understand the process and to carefully evaluate your options. Litigation Services actively acquires and enters merger agreements with existing court reporting businesses large and small, nationwide.
Court reporting firm acquisitions are an important part of our strategic growth plan, allowing us to offer our clients access to a wide range of professional court reporting services across the country, provided by an exceptional team of seasoned, highly skilled, certified court reporters.
Individuals and businesses may consider selling their court reporting firms when the business owner is nearing retirement, when priorities and business goals have changed, if there is a need for capital, or when there is a need to upgrade technology.
Is Your Court Reporting Business for Sale? Conduct Due Diligence on Potential Buyers
When evaluating potential buyers for your court reporting practice, basic due diligence can help you make more informed decisions so you can feel confident about the transaction. For each potential acquiring firm, consider the following.
- Reputation in the court reporting industry
- Experience handling acquisitions of similarly sized firms
- Financial strength
- References
- Transparency
- Whether the timing and terms of the transaction feel right based on your needs and circumstances
What to Expect When You Sell Your Court Reporting Business
Selling a court reporting business typically involves numerous distinct steps:
- NDA agreements: Entering non-disclosure agreements protects both parties from the potential risks when sharing sensitive or confidential information.
- Financial information: The potential acquiring firm will request certain information, which may include historical revenues and expenses, information about clients, employees, leases, etc.
- Valuation: After evaluating your tentative financial information, the buyer will provide you with its valuation and the terms of its proposed offer.
- Buyer’s due diligence: Next, the potential buyer will take a more detailed look at your firm’s financials, operational matters and legal background information.
- Enter legal agreements: When the buyer is satisfied with the due diligence, the legal documentation process for the transaction begins.
- Plan merger/integration steps: You as well as the acquiring firm have a vested interest in making sure the transition is a smooth one.
- Transaction closing: The closing marks the completion of the acquisition. Legal documents will be finalized and the business officially changes hands at this point.
Choose Litigation Services When Marketing Your Court Reporting Agency for Sale
An emerging industry leader in court reporting across the country, Litigation Services is dedicated to providing clients with timely, high-quality court reporting solutions. With abundant resources and integration process expertise gained by successfully managing acquisitions of court reporting businesses of all sizes, you can rely on Litigation Services for a seamless transition.
Our commitment to technology and to maintaining and nurturing your client relationships can give you peace of mind, knowing you’ve chosen a buyer that will continue the business you’ve worked so hard to build.
To learn more, contact Litigation Services today.