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From time to time, we receive requests (from potential clients) for references
from previous clients whom we have represented either from the position of an
acquisition (buyer) or that of a divestiture (seller). While there are
prospective clients who place a great deal of value or importance on the issue
of references, there exists a problem that far overshadows that particular
potential client’s needs.
We have chosen to address this important issue as follows:
The reason that there is no existence of a central, reliable database of
financial statistics and characteristics of transactions of the sale of daycare
centers (and their original as well as new owners), the sale of which have
closed, is, quite simply, singular and simple... It is because of the issue
regarding confidentiality. For privacy reasons, rarely is the exiting owner
willing to disclose that he or she has sold the company or willing to disclose
his or her terms of the sale or, for that matter, any other conditions regarding
the sale. A Seller's disclosure of a sale implies the obvious - a cash infusion
(which in many cases is sizable). This is clearly private information. Sellers
simply want to be left alone and for the participants in the transaction to keep
quiet and protect their privacy. It is a request that we strongly respect. The
same thing is applicable also for entering company owners. Again, terms and
conditions are private and confidential and, outside of the seller, buyer, and
any professional representatives involved, the terms and conditions are no one
else's business. It is because of this extremely confidential nature of the
industry that many experienced intermediaries will not provide references. Like
many other seasoned professionals in the industry, we also do not provide
references.
Business relationships with our clients (or potential clients) begin and end
with extreme privacy / confidentiality. If you are considering a
client-representation relationship with us, understand that your relationship
with us will be treated exactly like those that we have (or had) with our other
clients and that none of our present or future clients will be made aware of any
part (terms and/or conditions) of the contractual relationship we have with you.
The exception, of course, is the instance in which the subject party is a
qualified potential party to a particular transaction in which case, they too,
would be contractually bound to confidentiality.
In summary, it is the degree to which we highly regard confidentiality that we,
for many years, have not provided references of past or previous buyers,
sellers, or owners of companies with which we have been involved. We have made
no exceptions and will continue to make no exceptions to this rule. Without
disclosing private details of a named, particular transaction (or the buyer,
seller, or anyone else involved with it), we will however, be willing to
discuss, at the appropriate time, certain characteristics of transactions that
we have managed.
We look forward to yet another successful transaction by helping you achieve
your goal of either divesting or making an acquisition of a company. If you
would like pursue a business relationship with us, feel free to
contact us.
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