Dallas Business Brokers - References Statement

Statement Regarding References

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 or that of a divestiture. While there are many who place a great deal of value or importance on this issue, there exists a problem that far overshadows that particular potential client’s needs.

We have chosen to to address this extremely important issue as follows:
The reason that there is no existence of a central, reliable database of financial statistics and characteristics of companies (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 of a company 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. They 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 for entering company owners. Again, terms and conditions are private and confidential and, outside of the seller, buyer, and any professional representatives involved, they 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 long-term 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 and will continue to make no exceptions to this rule. We will however, be willing to discuss, without disclosing the particular transaction and at the appropriate time, certain characteristics of transactions on which we have worked. If you would like pursue a business relationship with the Dallas Business Brokers Edling & Wyatt, we look forward to you contacting us.

 

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