Seller-side M&A
Sell your brokerage well.
A personal, trusted, seller-only advisor to regional independent brokers seeking a successful sale.
What is WGNP?
The integrated advisor
- A personal, trusted, highly experienced advisory partner to regional independent brokers seeking a successful sale.
- The integrated advisor: one advisor, one relationship, one set of interests, fully aligned with the seller from day one to the end of the earn-out.
- Works confidentially, usually 12–24 months ahead of any sale to drive revenue, optimise profit, and iron out wrinkles before any due diligence process exposes them.
- Whole-of-market buyer access. Only ever acts for the seller.
Effective preparation maximises the opportunity. A lack of preparation minimises the opportunity.
How it works
The journey
The sale process is often long, complex, and emotionally brutal to run alone. An integrated advisor carries you through every stage in a calm and confident manner.
| Months | Stage | Emotional state |
|---|---|---|
| 12–24 | Pre-sale preparation | Fun |
| 2 | Creation of the Information Memorandum (IM) | Pride |
| 1 | Signing NDA's · agreeing the buyer shortlist · IM distribution to agreed buyers & answering their initial queries | Anxious |
| 1–2 | Deal negotiation · buyer selection · negotiating the terms sheet · agreeing exclusivity | Anticipation & paranoia |
| 2–3 | Due diligence questionnaire negotiation, data room population, third party interrogation and evidence provision | Exhaustion & frustration |
| 3–4 | Change of control submission (if required) · legal negotiation of SPA/APA, negotiation of warranties & indemnities | Tension & impatience |
| 1 | Completion, receipt of completion payment · negotiation of completion accounts | Relief & grief |
| 12–24 | Integration into acquirer · driving earn-out performance · maximising earn-out payment | Challenging |
Why WGNP
The cost of going alone
Selling solo might save you money but it is highly likely to cost you a fortune that you may or may not be aware of.
Buyers buy businesses all the time; you sell yours once. Bring your own A-team to increase the odds of achieving a great outcome for you.
Running a sale and running the business are two incompatible full-time jobs.
Due diligence is often where deals die or get repriced, and that is avoidable with the right support from an Integrated Advisor.
In order to optimise a deal, remember that the initial and earn-out deal structure is much more important than the headline price.
Advisor comparison
Advisor types
| Advisor Type | How & when they engage | Key Characteristics | Is the Advisor Buyer or Seller Focussed? | Payment Model | Typical Outcome for Seller |
|---|---|---|---|---|---|
| The Integrated Advisor | Seller calls the Advisor typically 24-months before any sale event | The Advisor deeply understands the seller, the culture, and the clients. Advisor drives the financial performance, preps the business for sale and stays to maximise the earn-out | Advisor's interests are typically 100% aligned to those of the Seller | Paid by Seller. The cost is a known cost to the Seller | Optimal - Great preparation, insight, and support through entire transaction |
| The Introducer Advisor | The Advisor typically cold calls the Seller catching the Seller on a "bad day" | The Advisor uses high-volume cold calls to generate opportunities. These often have limited buyer access, and provide limited support during the preparation, execution, and post-completion phases | Neither. These typically want to get the deal done and move onto the next deal | Can be paid by both the Seller and the Buyer. Often an unknown cost to the seller | Limited - Seller may or may not get a good deal, with little or no support during the transaction |
| The Buy-side Advisor | The Advisor typically cold calls the Seller and offers to do the job for free | Very similar to the Introducer Advisor but this Advisor is often paid by the buyer and therefore creates multiple potential conflicts of interest. These tend to represent just a few buyers (those that pay them), and have little incentive to maximise the deal for the Seller | Typically, but not always Buyer focussed | Paid by Buyer. Typically the cost is an unknown to the Seller | Limited - Seller may or may not get an optimal deal as often the Advisor approaches only a limited marketplace |
| The Process-Only Advisor | The Seller typically calls the Advisor once the initial deal has been agreed | The Advisor runs the sale process efficiently and has no input in optimising or maximising the deal. These exist to assist the process | Advisor's interests are aligned to the Seller | Paid by Seller. The cost is a known cost to the Seller | Limited - Activity is solely focussed on the process and not optimising or assisting the deal content & structure |
| The Non-Advisor | The Buyer's in-house M&A team contacts Seller directly | These are entirely buy-side focussed. They exist to maximise the opportunity for the buyer | Advisor's interests are typically 100% aligned to the Buyer | Paid by Buyer. The cost is an unknown cost to the Seller | Very limited - Seller often accepts a lower market price as the Buyer wants to buy as cheaply as possible |
| The DIY'er | Seller runs process alone | These do as much as they can but are often unaware of what is typically available or achievable. There is often little competitive tension | None (self-represented) | No cost | Very limited - Seller often accepts a lower market price as the Seller is unaware of what is possible |
About Richard
Who is Richard Pitt?
Richard has been working within the regional independent broker marketplace all his life. He set up his consultancy business in 2019 and has since worked on a retainer basis with two dozen carefully selected brokers in a hands-on non-exec, advisor and mentor capacity.
Over the last seven years these brokers have grown organic income significantly quicker than the market average and avoided many of the trip hazards that most other brokers encounter when growing quickly.
Richard deliberately undertakes a limited number of Sale transactions each year, so every deal gets his personal attention, expertise, involvement and support.
Richard acts as the ultimate “Integrated Advisor”, he would be happy to put you in touch with a selection of previous sellers that have benefitted from his involvement and approach.
Testimonials
What our clients say
Paul Hine
MD, Hine Insurance Brokers Ltd
Selling my brokerage was always going to be the biggest decision of my career - and Richard made sure I didn’t face it alone.
Neil Hayton
Hayton Insurance Brokers
I worked with Richard over a two-year period as part of a growth programme, during which his advice, support and commercial insight helped me grow my brokerage income substantially. As a result, when the opportunity arose to sell my business, appointing Richard to assist with the sale process was an easy decision.
Carla Preston
MD, Robert Gerrard & Co Ltd
Selling a business that you have spent 40 years building is never going to be just a business transaction, it’s hugely personal too. Having Richard alongside Simon and I throughout that journey was invaluable.
Dale Collett
Gravity Risk Services Ltd
As a business owner, I greatly value having an ‘A team’ of key people who are aligned to our values and help to guide us towards our objectives. Richard is in our A team.
Andy Smallwood
Director at Colmore Insurance Brokers
Richard has assisted and guided us through the Sales and Acquisition process on a number of occasions with a very successful outcome each time. As a broker you think that you know it all and how the exit plan and process should work. But the reality is very different and without the help of Richard and his advice I am not sure we would have ever got to the outcome we wanted.
Philip Belgian
Managing Director, NC Insurance, Gateshead
Selling my business was one of the most important decisions of my life. It represented two generations of hard work and sacrifice, and getting it right mattered to me more than words can express.