My name is Thomas Kruip and we are at Aloys Roemaat Transport.
Three years ago, I was able to take over the previous owners' shares.
Do you want to become an entrepreneur, just like Thomas, without having to start from scratch?
In that case, taking over a business is a good option.
In this video I will tell you about 9 important steps...
to take over a business successfully.
Think about what you want in a business.
Sector, size, growth options, or business culture.
A vacancy opened up in 2016.
I applied, and became an employee then.
My motivation to take over this company...
was partly the business culture and partly the opportunities I saw.
Use databases, sector organisations, or a takeover consultant...
to find a suitable company.
Consider a management buy-in, buy-out, or in-family takeover.
I already worked here, and knew a takeover was an option.
So I spoke to the directors.
And they really loved the plan.
But I needed money. That involved some business steps.
Have you found an interesting company? Check the numbers.
Turnover, profit, costs, customers and suppliers.
What about the rental lease and the staff?
All this is included in the sales memorandum.
Because I worked here, I had a lot of inside information.
That is really convenient.
If you don't have inside info,
get to know all the company's details.
It is really important for the deal.
Write down agreements and conditions in a declaration of intent.
This document is not binding, but it shows your serious intention to take over.
You document the negotiation planning...
term of the non-disclosure duty, and other conditions.
Ask an adviser or lawyer to check that the agreement is solid.
I signed a declaration of intent and a non-disclosure agreement
to record the agreements, but also to ensure secrecy...
so that things aren't out in the open before you complete the deal.
Check the financial and legal situation of the business.
Check that the seller's info is correct. Especially the numbers and contracts.
Do you see risks? Discuss them and re-negotiate.
Although I already had a lot of information...
it is always wise to consult an external adviser.
An outsider with a critical eye who looks at things from a different perspective.
Work with a takeover adviser...
to determine whether the asking price and the goodwill are reasonable.
Also look at the opportunities for the future.
This was a tough phase, and, more than that, an interesting one.
You start by looking at the numbers and setting a price...
and then the takeover expert helps you...
take a different look at the company value.
Can't pay the asking price by yourself? You need financing.
Draw up a financing budget so you know how much you need.
You can approach banks, investors, or crowdfunding platforms.
I financed the takeover with my own means plus a bank loan.
Look beyond those options, there are many ways to finance a takeover.
Do you reach an agreement?
Then you, the seller, and the takeover adviser can draw up...
the takeover contract. And that is the start of the actual takeover.
In the contract, you detail the price, obligations...
guarantees and the company assets.
I started by taking over 60% of the shares.
The contract states I will take over the remaining 40% within 5 years.
We also started visiting customers, to create trust.
My role has changed, of course.
It is good to see that we have been able to sign agreements with the customer...
that have strengthened my position with the bank.
Now for the last step.
Register with KVK to finalise the takeover.
You and the previous owner make an appointment at a KVK office.
The moment you sign and register is so special.
After what felt like 1600 signatures
the last signature was in place, and it became real.
We celebrated that in a big way.
Want to know more about company takeovers?
Check kvk.nl/takeover.