In this case the founder had children, but none of them nor other closepeople were willing to continue the business. Company was more or less for sale for years, but without success. The price required was not – according to professional business developer – in line with the opportunities of the business (At the time business became for sale the interest was mostly set on first mobile services and solutions). The sales announcement was given, among the other market places and business dealers, also to Mr. Kimmo Saaristo, Business Transfer Coordinator of Satakunnan Yrittäjät.
Mr Petri Hohtari, on his part, had filed his data in the site collecting the information of persons interested to acquire an existing business and / or company. Soon after that Pori Enter, the municipal business service of Pori district, contacted Mr. Hohtari and directed him to Mr. Saaristo, who had a number of considerable businesses to be presented. From a portfolio of potential companies three companies were selected for closer review. Mr. Hohtari found Panelian kone to be the most interesting of these and negotiations started. The negotiations took one month and leaded to agreement satisfying both participants.
Finally, it was found a successor who agreed to buy the company – if the founder would stay for certain period in company to guarantee the continuum and transfer the tacit knowledge. The company has grown measured in both number of employees and turnover, and the former entrepreneur is now retired.
As a lesson of this case Mr. Hohtari emphasizes the importance of professional and reliable expert with long experience in business transfers to be involved in the case.
Matti Eskola (majority)
Petri Hohtari (majority)
Legal form of the company
Number of employees
Model of transfer
2 – Transfer to one or more external (person/subject)
Business Service Enter (Now part of Prizztech Ltd) contacted by acquirer. Business Transfer Services of Satakunnan Yrittäjät, contacted by both parties. Services were free, and only potential extra costs were invoiced. The service was limited to get parties in contact with each other. In the negotiating and contractingphases an experienced expert could have been helpful.