Janover often assists clients with the purchase and sale of their businesses. Recently, we provided services to an individual looking to sell his business. But there was a potentially costly agreement that went along with the sales process. The client’s company had entered into an investment banking agreement whereby, in the event a buyer was introduced that would pay in excess of $50M for the company, the company would in turn be obligated to pay the investment banker $250,000 – regardless of whether the company accepted the purchase price or not. When a purchase deal was negotiated, but then, ultimately, the company decided not to consummate the transaction –the investment banker attempted to collect the $250,000. Janover had the client’s interest foremost, and dug into the matter. Janover noted that the while the company valuation was indeed in excess of $50M, the buyer was not purchasing the entire company and, accordingly, the actual transaction was going to be less than $50M. The Company’s attorneys did not realize this point – nor did the investment banker. Thus, only through Janover’s attention to detail did the company avoid paying the $250,000 fee. Results such as this are the reason Janover’s clients view their associations with Janover as “relationships beyond calculation” – going the extra step, knowing their client’s needs intimately, and keeping their best interests a primary focus. To learn more about Janover and the services they can provide, contact Janover at info@Janoverllc.com For additional Janover case studies, go to: blog.janoverllc.com |