Sell-side advisory services for business owners

A sell-side advisor represents the seller's commercial interests; a buy-side advisor represents the acquirer. XQUENT's sell-side mandate is to advise the owners throughout their company sale. The role combines preparation, positioning, buyer engagement and negotiation with leadership of the sale process. A capable advisor creates credible alternatives and helps the owner assess the economic and practical consequences of each proposal.

XQUENT leads that work personally, from the initial strategy through closing. We bring together market insight, sale materials, buyer access and commercial judgement, while your legal and tax advisors remain responsible for their specialist advice.

Look for relevant transaction experience, a sound understanding of your business and credible access to the buyers most likely to value it. Ask who will actually lead the mandate, how that person will be involved in negotiations and how the advisor will protect your interests when the process becomes difficult.

At XQUENT, a Managing Director leads each mandate personally and operationally. Our advisory team combines senior transaction experience with sector expertise, so the people shaping the strategy remain involved in its execution. Learn more about XQUENT and our experts.

XQUENT advises on full company sales, majority and minority disposals, and shareholder exits. We work with founders, family owners, investor-backed companies and corporate shareholders disposing of businesses. The scope of the mandate reflects the ownership objectives, the business and the transaction contemplated.

Where a sale arises from succession, we can lead the sale mandate. The assessment of broader succession scenarios and future leadership arrangements is covered by our succession advisory service.

Our focus is owner-led and investor-backed companies and corporate business units with annual revenue of approximately EUR 2–100 million. We assess mandate suitability individually, taking account of transaction size, complexity and the business's commercial profile.

We advise owners in Germany, Austria, Switzerland and across Europe, drawing on international buyer access. Our core sectors include software and SaaS, IT services, business services, industrial technology, environmental and energy technology, and consumer products and internet. Our dedicated Software & SaaS and IT Services pages describe the relevant sector advisory expertise.

For an owner considering a disposal, the relevant question is which team has the experience, industry knowledge and buyer relationships to deliver the mandate. An investment bank may offer financing or capital markets capabilities alongside transaction advice. An independent advisor can provide focused commercial representation.

Examine the proposed team, its recent assignments, potential conflicts and the senior banker's actual involvement rather than relying on the institution's name. XQUENT's mandate is to represent the seller, with a Managing Director responsible for strategy and execution.

We develop a market-based selection of strategic acquirers and financial investors by combining specialised company and transaction databases, targeted research and our international network. We examine which organisations have a convincing acquisition rationale: access to capabilities, customers or markets, expansion of an existing platform, or alignment with an investment strategy.

We then prioritise candidates by strategic relevance, financial capacity, acquisition appetite and the credibility of their decision-making process. Sector knowledge helps distinguish a plausible name from a serious counterparty. The resulting shortlist is discussed with you before approach, including exclusions and confidentiality considerations.

We design the approach around both market reach and disclosure sensitivity. A targeted auction process may be appropriate where several credible parties can compete; a narrower approach may be preferable where customer, employee or competitor sensitivity is particularly high.

Buyer exclusions, initial messaging and the release of confidential information are agreed with you. Anonymous initial approaches, confidentiality agreements and staged access help manage exposure. Competition is built among qualified parties, with careful attention to the timing and depth of disclosure.

Initial strategic fit earns a buyer a place on the shortlist; progressing further requires evidence of commitment and ability to complete. We assess the quality of the proposal, financing credibility, internal approvals, diligence requirements and alignment with your expectations for the business.

A well-run mandate keeps credible alternatives available while concentrating attention on parties capable of a successful transaction. We help you choose the buyer offering the strongest combination of economic value, acceptable conditions and completion certainty.

An experienced advisor connects a credible investment case with access to qualified buyers and a disciplined competitive process. This gives the owner alternatives and allows proposals to be assessed on more than the headline purchase price.

XQUENT evaluates payment at completion, deferred consideration, retained equity, conditions and execution risk together. We seek to preserve negotiating leverage as discussions progress, and challenge terms that shift disproportionate risk to the seller. The aim is an outcome that reflects the owner's priorities and can withstand the scrutiny required to complete on favourable terms.

We use valuation to establish a defensible commercial position and interpret the market's response. An indicative market value is tested against the interests of credible parties and the economics of their proposals.

Our advice connects this assessment to shareholder value, payment certainty and the allocation of risk. We explain what an offer means for you economically, including the distinction between the stated price and proceeds dependent on future performance or other conditions.

We prepare the business's commercial case carefully and identify issues that could undermine buyer confidence before launch. During buyer scrutiny, we coordinate information requests and maintain a consistent account of the business, supported by management and specialist advisors. Where a quality of earnings review or other independent work is commissioned, we coordinate its commercial implications with the relevant specialists.

Where a buyer seeks to revise its offer, we assess whether the change is supported by new evidence, reflects a misunderstanding or represents a negotiating tactic. We respond on the commercial merits, considering the agreed terms, remaining alternatives and the prospects of completion.

We organise the mandate so management's time is concentrated where its involvement adds most value: validating the investment case, engaging with serious buyers and addressing material questions. XQUENT leads buyer communication and the commercial work, keeping the owners informed at the decisions that matter.

We work directly with your lawyers, tax advisors and other specialists, bringing their findings into the commercial discussion and coordinating the path to completion. You receive a considered recommendation when choices involve competing objectives, while retaining authority over the transaction.

Ideally, before the first buyer approach or substantive discussion of transaction terms. Early involvement gives the advisor time to assess readiness, develop the investment case and establish a credible approach to the market, without being constrained by commitments already made.

If discussions are underway, we first assess their status and the decisions ahead. We agree a practical scope and timetable with you, recognising both the transaction requirements and the demands on management. A confidential conversation with XQUENT can clarify the appropriate next step.

An unsolicited approach establishes interest, but it does not establish whether the offer represents the available market opportunity or whether its terms serve your interests. A professional buyer may already have an acquisition team and experienced financial advisors supporting its acquisition process.

XQUENT can assess the proposal, the counterparty and the options available to you. Depending on the circumstances, we may advise on a bilateral negotiation or test interest from selected alternatives. The choice reflects your objectives, confidentiality requirements and the credibility of the existing offer.

Sell-side advisory fees commonly combine a fixed or recurring retainer with a success fee. The commercial terms depend on the mandate's scope, transaction size and complexity. When comparing proposals, examine the minimum fee, any crediting of retainers and the treatment of deferred consideration or retained equity.

XQUENT agrees the scope and remuneration in writing before work begins. The agreement establishes the fee basis, payment triggers and any expenses. Legal, tax and other specialist advisory costs should also be considered when assessing the overall transaction budget.