Ed Button and Kris Jones, Partners, Legacy Advisors

Experienced M&A Advisors

Our combined 35 years of experience across dozens of successful transactions position us as a go-to partner for ensuring your legacy.

Category: Understanding Deal Stages

  • Post-Closing Adjustments: What Sellers Should Expect

    The moment your deal closes, you’ve officially sold your business — but the work isn’t entirely over. For most founders, there’s another phase that begins right after closing: post-closing adjustments. These adjustments are the financial fine-tuning that ensures the final purchase price accurately reflects the state of your business at…

  • Closing Mechanics: What Happens on Closing Day?

    After months — sometimes years — of preparation, negotiation, and due diligence, everything comes down to a single moment: closing day. It’s the day you officially sell your business. The day your hard work becomes tangible results. The day signatures turn into wire transfers — and a chapter of your…

  • How to Handle the Dreaded ‘Quiet Period’ in M&A

    If you’ve ever been in the middle of selling your business and suddenly… nothing happens — no emails, no updates, no calls — you’ve experienced the dreaded M&A quiet period. It’s one of the most unnerving parts of the deal process. You start asking yourself: The silence can feel deafening.…

  • Understanding the Deal Timeline and Major Milestones

    When founders decide to sell their business, they often ask: “How does this process actually unfold?” The answer is found in the M&A deal timeline — the structured series of steps that move a company from intention to transaction. Each stage represents a critical milestone, with its own rhythm, expectations,…

  • The Role of the Management Presentation in M&A Deals

    When a buyer expresses serious interest in acquiring your company, they’ve already seen your numbers, reviewed your marketing materials, and signed an NDA. But there’s one critical milestone before the deal truly advances — the management presentation. This is the founder’s moment to bring the business to life. It’s the…

  • How Long Does a Typical M&A Process Take?

    If you’ve ever wondered how long it takes to sell a business, the honest answer is: longer than you think — and exactly as long as it needs to. For most founders, the M&A process lasts six to twelve months from initial preparation to closing. But that number only tells…

  • Due Diligence: Breaking Down the Key Phases

    Due diligence is the moment when selling your business moves from exciting to intense. If the Letter of Intent (LOI) is the handshake, due diligence is the X-ray, the MRI, and the stress test of your company — all happening at the same time. Every founder who enters this phase…

  • The Letter of Intent (LOI): What It Is and Why It Matters

    After weeks of buyer meetings and negotiations, one document stands between interest and execution — the Letter of Intent (LOI). The LOI is often misunderstood by founders. It’s not the final agreement, but it’s far more than a casual “handshake.” It’s the bridge between early negotiations and formal due diligence…

  • What Happens in the Initial Buyer Outreach Stage?

    After months of preparation — cleaning up financials, documenting processes, and building your data room — your business is finally ready to meet potential buyers. This marks the beginning of the buyer outreach stage, one of the most strategic and exciting phases in the entire M&A lifecycle. This is where…

  • Overview of the M&A Lifecycle: From Interest to Integration

    Every successful business sale follows a journey — a structured process known as the M&A lifecycle. From the moment a buyer expresses interest to the day your company is fully integrated under new ownership, each stage builds on the last. For founders, understanding this lifecycle is essential. It removes mystery…