Agency buyers continue to outnumber sellers, which is good news for any IIAT members looking to sell. IIAT Matchmaker is a free service for IIAT members who want to source suitors without prematurely alerting employees, customers or carriers.
Here is a brief overview of the process, which is designed to maintain a level playing field for all interested parties:
- IIAT maintains a master buyer list and buyer parties are added to the list whenever requested.
- A seller contacts IIAT about their interest in selling. The seller is directed to the M&A Toolkit for more information about the process. If interested in proceeding, the seller completes a seller’s profile that contains as much information as possible without compromising their identity. A random four-digit number is assigned to the seller.
- The master buyer list is sent to seller to review and approve for distribution of the profile.
- A “Matchmaker Alert” is e-mailed to all parties on the approved buyer list, with the seller profile attached, announcing the opportunity. The alert instructs interested parties to communicate interest via a reply e-mail and to include anything they would want the seller to know.
- Buyer e-mails are forwarded to the seller who uses them to choose which parties to contact.
- If asked, we help get a confidential non-disclosure agreement signed before contact information is exchanged. The agreement is forwarded to buyer to complete and sign as recipient and return via email or fax. The signed agreement is forwarded to seller. Depending on seller preference, the seller contacts chosen buyer parties directly or IIAT forwards contact info to buyer parties.
If you find yourself wrestling with perpetuation issues, fighting a losing battle with economic forces or just wanting to pursue a different agency business model, contact IIAT’s Matt Smith about how Matchmaker can help you find and screen suitors. Buyers may also contact Matt to be added to the buyer list.