How it Works

Finding the Right Person to Buy Into Your Business

Regardless of how you sell your business, the critical component is the same – finding the right person to buy it.

With our background in executive search we are experts in finding the right person for a role, including someone to gradually buy into your business as they manage and grow it for you.

And, unlike a business broker, we use a more specific set of criteria. They only want someone who wants to buy your business and has the financial means to do so.

At Legacy Partners we look for someone who:

• Wants to buy your business

• Has the right capability – necessary skills and experience to manage and grow your business

• Can purchase an initial share of your business

The Legacy Partners Process

Every business is unique and we tailor our process to your business and your objectives.

This includes doing the groundwork to understand your business and its growth potential, creating the legal documentation for the transition process, and providing governance processes to ensure success.

In simple terms it works like this:

1. Find the Right Business Partner

We use an executive recruitment model to find the right person with the capability and equity to eventually own your business.

2. Sell a Portion of Your Business and Free Up Your Time

After purchasing a share of your business, your business partner manages and grows your business while you focus on what you enjoy.

3. Gradually Sell the Rest of Your Business 

Over the next few years, your business partner will buy a greater share of the business until they own 100% of it, and you’ve fully exited. 

The Legacy Partners Principles

Three critical attributes underpin our process.

1. Business Partner Search 

Using our experience in executive search, buying and selling businesses, management and leadership, we find a suitable business partner who has the skills, experience and equity to grow your business and transition into becoming the new owner.

2. Equity Terms 

We use a Memorandum of Understanding to cover the terms of the agreement between you and your new business partner, including the purchase of equity. Our experience working with owners means we know how to set up mutually agreeable terms that work for both you and the incoming owner. 

3. High-level Advisory 

An essential part of our process involves putting together an advisory board. This board includes you, the incoming owner and an independent advisor – whose role it is to oversee the objectives of the Memorandum of Understanding are met, provide advice to you and the future owner, and make sure there’s strong governance of your business.

Throughout the whole process, Legacy Partners is involved to ensure the success of the gradual sale of your business – allowing you to reap the rewards of your hard work and leave your business in the hands of a talented successor.

Get in touch to start the process with your business or Compare your return from an outright sale vs an ownership transition.