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The due diligence process has changed considerably in recent times. Gone are the days when a team of investigating accountants would descend on an unprepared target business and subject the management team to several weeks of seemingly unfocused and distracting enquiries.
As vendors have wrestled back more control of the process, aided by the use of electronic data rooms and competition for quality assets including international bidders, vendor due diligence has also become an increasingly common feature in transaction processes.
Controlling the process and protecting value
Vendor Due Diligence is commissioned by the vendor, with the due diligence report being made available to prospective purchasers initially on a non-reliance basis, but ultimately with a duty of care being provided to the purchaser.
Our approach to vendor due diligence is balanced and independent, recognising the vendor's desire to control the process and protect shareholder value, balanced by the requirement for a robust and independent report to be used by the purchaser and their funders.
Vendor due diligence ensures that prospective purchasers have the information and analysis they need to make an informed decision. Issues can be disclosed and presented in a balanced way, whilst accommodating the vendor's timetable and minimising disruption to the business during the process, a risk which is often overlooked. The story of the target's evolution, historical trading and forecasts can be articulated in a way which is supported by the financial analysis and which links into the messaging in the Information Memorandum and other transaction documents.
Our vendor due diligence offering is characterised by a high level of involvement from our most senior transaction advisory specialists and a flexible approach which can prioritise key areas and deliver a "no surprises" service which minimises upfront costs.