We’ve settled on a price and a tentative closing date and my counter-offer is being written by my lawyer. I hope to have it in the prospective buyer’s hands by the first week of October and close roughly 90 days later. I’ll be asking for no re-investment (equipment or facility upgrades) outside of routine maintenance that I’d have done if I were to continue to operate the business. The buyer will send in his inspectors and decide if that’s fair and reasonable. He REALLY REALLY wants and even needs my business to make another recent acquisition of his more manageable and profitable (share staff, expertise, marketing strategies), but he still may not agree to the last condition. I think, at worst, his refusal to agree will only extend the closing date a commensurate amount of time for me to recoup my re-investment expenditures, rather than kill the deal.
I’m hoping all goes smoothly. It will be great to have you here.