Senior management at any company will need the right advice, and earlier in the process than they might expect if they hope to see the greatest value in a sale or an IPO.
This was the general consensus at a recent meeting of private equity industry professionals at an ACG Intergrowth conference breakout discussion entitled "Planning for a Successful Exit," facilitated by Plante Moran audit partner Joseph Adams.
Setting a firm up for success might include ensuring they establish the right image, through strong public relations strategies, in the months and even years before a sale.
It can also include making sure that all of their financial statements are in order, and that relevant data of interest to buyers is put into the right formats to tell the story of the firm.
Of course, there's no one size that fits all approach. There's a tremendous importance of customizing the approach to the portfolio company. The game plan can be radically different if it’s a family business vs. one that's already private equity owned.