Choon graduated as an Engineer and has a passion for business. He has over 25 years of commercial experience across a broad range of industries including professional services, information technology, telecommunication, online, manufacturing and wholesale/distribution.
He has extensive experience in business valuation, business sales and business acquisition of privately held businesses in Australia. Clients benefit from his strategic insight, negotiation skills, access to local and overseas network of business buyers and sellers, and transaction experience when planning for business exit, divestment or acquisition.
A successful electrical contracting business in the region with an annual sale of over $6 million and employing 25 employees was looking at their exit options and were not able to identify anyone within their family and existing employees as suitable candidates. They were very concerned about confidentiality as news of their intention to exit from the business could be taken advantage of by competitors and impacted on their chance of winning new projects. They were also concerned about providing certainty to their existing customers and employees as these were relationships that they had developed over 30 years.
After initial consultation with the two owners, Choon was able to outline and explain to the owners the practical exit options that were available and worked closely with them to understand the value of their business, an agreed asking price was set on the business and a professional Information Memorandum was prepared. An extensive marketing campaign was conducted, that included advertising the business for sale, promotion across multiple social media platform, database with over 20,000 registered business buyers and investors and businesses identified as potential buyers within the market.
Attracting interests from multiple parties over a few months, many of them did not want to proceed due to the regional location. However, the business was successfully sold to an interstate business person who was looking for a business where he can use it as a base to expand nationally. The 2 owners were very happy as they got the price that they wanted for their business, and had the customers and employees taken care of by the new owner. Throughout the entire process, Choon worked closely with the 2 owners to manage the exit process from start to completion. He provided the valuation input, mapped the strategy, controlled the marketing campaign, qualified and negotiated with interested buyers, co-ordinated the professional teams representing the buyer or seller in due diligence and drafting of the legal contracts, and facilitated with the transition of ownership.