Understand the seller’s motivation
LINK Corporate reports strong demand for large, high-value businesses because demand currently exceeds supply, but it is also a market in which owners risk under-selling or breaching confidentiality if they don’t engage expert support.
Selling a business valued at $2 – $ 50 million or more is not simply a larger version of a small business sale but a fundamentally different process which involves a wider range of buyers, more complex structures, heightened confidentiality risks, and the need for deep market understanding.
Most owners of substantial corporate-sized businesses are unaware of the nuances, snags and caveats that lie in wait for those who fail to engage specialist corporate brokers with the right capability.
LINK Corporate, the dedicated division within LINK Business Brokers that focuses exclusively on larger business transactions, says sellers who underestimate these complexities risk significant financial and strategic downsides.
“There’s a misconception that now isn’t a good time to sell,” says LINK Corporate business broker Aaron Toresen. “And for some, that’s true. But if your business is profitable and well-managed, there’s strong demand. Right now, it’s a seller’s market.”
Together, Aaron Toresen and LINK Corporate colleague Martin Plom are the two top corporate brokers in New Zealand. As part of the LINK Corporate broker team, they focus solely on transactions in the $2 million-plus bracket.
Why demand is outpacing supply
Plom says that while macroeconomic uncertainty is affecting some sectors, many high-performing businesses are continuing to deliver solid returns, while at the same time demand for quality businesses has surged.
“There’s a huge pool of capital in the market, and buyers are actively looking for strong acquisition opportunities,” says Plom. “LINK has thousands of serious, qualified buyers in our database, and that’s refreshed regularly. The banks are lending again, and buyer motivation is high.”
Despite this, many business owners are holding off from listing due to concerns about market timing or uncertainty around value. That, says Toresen, is often a missed opportunity.
“If your business is solid and you’ve been thinking about selling in the next 12 to 18 months, this is the time to act,” he says. “Good businesses are moving quickly and in some cases within days of going live.”
Three things corporate vendors must get right
Plom and Toresen identify three areas that matter most in the sale of a high-value business: confidentiality, deal structure, and value clarity.
1. Confidentiality must be watertight
Owners often delay engaging a broker due to fears that staff, customers or suppliers will find out the business is for sale. That’s understandable, says Plom, but unnecessary.
“We’re effectively selling a secret, and we know how to do that,” he says. “From the first meeting through to the final handshake, we follow a process built over nearly 30 years. Nothing is shared until the buyer is qualified, non-disclosure agreements are signed, and the vendor approves disclosure.”
Marketing, too, is managed in a way that protects the seller’s identity. “We present the location, the earnings profile, and the industry in broad terms,” says Plom. “But names, details and specifics are confidential.”
2. Deal structure requires specialist knowledge
High-value sales often involve complexities not present in smaller deals. These can include share sales, earn-outs, strategic merger components, or investment syndicates.
“Most brokers only understand asset sales,” says Toresen. “But at this level, it’s common to see more complex structures. If your business is growing, you might not want to exit completely right away. An earn-out lets you capture that future value, but it has to be structured correctly.”
3. Clarity on value makes all the difference
Many owners simply don’t know what their business is worth. Others believe they must go through years of ‘exit planning’ to achieve maximum value. Not so, says Toresen.
“There’s a myth that it takes years to get a business ready to sell. In reality, with the right advice, many of the biggest value levers can be addressed in six months or less,” he says. “The key is clarity. Understand your value, take action on a few important things, and talk to someone who’s done this hundreds of times before.”
Four practical ways to increase business value
LINK Corporate advises owners to focus on these practical steps to improve both saleability and sale price:
- Reduce reliance on the owner
“The more the business depends on you, the less valuable it is,” says Plom. “Put a general manager in place and remove yourself from the day-to-day.” - Clean up your financials
“Remove personal expenses, ensure clean accounts, and prepare a clear profit picture,” says Plom. “Buyers pay for clarity and confidence.” - Minimise risk and demonstrate growth
Buyers assess both risk and opportunity. “Address things like customer concentration or outdated supplier agreements. And be able to show a clear path to growth, even if you’re not the one who will execute it.” - Improve optics before listing
Plom says think of it like selling a house. “You mow the lawn, paint the fence, put fresh flowers out and a batch of scones in the oven. The same applies here, we call it getting the optics right.”
Who buys these businesses — and why
At the $2 million-plus level, buyers are no longer limited to individual owner-operators. LINK Corporate works with three main buyer groups:
- Strategic acquirers
Competitors or businesses in adjacent industries or geographies looking for synergies or growth through acquisition. LINK Corporate don’t overlook the fact that those buyers could be in Australia or further afield. - Private syndicates and corporate jumpers
Small investor groups or individuals leaving corporate roles who pool capital to buy a business, often with one person stepping into a management role. - Passive investors
Buyers looking for managed businesses that generate solid returns without requiring daily involvement. - Private Equity
Professional investors seeking to bolt on businesses to existing platform companies they are growing by acquisition
Each buyer type brings different needs, timelines and criteria, which is why LINK’s corporate database is curated and constantly updated to ensure alignment. As a result, off-market offers are not uncommon, but the real value that LINK Corporate brings to vendors is the ability to strategically position and market a high value business.
This capacity to act fast and protect sensitive information is a major comfort to vendors. “Sellers want discretion and certainty,” says Toresen. “That’s exactly what our process delivers.”
Beyond the numbers: legacy matters too
While valuation and sale structure are essential, both brokers emphasise that many business owners care deeply about what happens after the deal is done.
Vendors often describe their business as their baby. They’ve built it over decades, formed strong teams and created a brand they care about. They want to know the buyer will protect that.
Sometimes the winning bid isn’t the highest, but it is the one that gives the seller peace of mind. LINK Corporate understands and values such a position.
Brokers need more than just sales skills
Corporate sales require more than general brokerage experience. They demand legal, financial, and strategic insight along with deal-making skills.
“A business worth $5 million or more is not just a transaction,” says Toresen. “You’re dealing with share sale options, due diligence complexities, legal structuring, sometimes even private equity. The broker needs to understand all of that otherwise you risk serious missteps.”
Toresen and Plom work closely with a network of lawyers, accountants and financiers who specialise in business acquisitions. “We can recommend trusted advisors to ensure a smooth process. It’s about getting deals done with professionalism, not just listing a business and hoping for the best.”
The decision to sell: what owners need to know
According to Toresen, the most common questions sellers ask are:
- How much is my business worth?
- How long will it take to sell?
- How much does it cost?
- How do you ensure confidentiality?
Toresen says these are fair question and they’re all answered upfront. “We want owners to make informed decisions, whether they sell now or later.”
Sometimes, he says, the best move is to start the conversation without committing. “You don’t need to be ready to sell tomorrow. We’re happy to meet, talk through your business, and outline your options. That first conversation can be the start of a value-building journey.”
Informed action is better than delay
Both Plom and Toresen are clear that now is a strong market for the right business. However, owners need clarity and confidence to take the next step.
“Too many owners stay in the dark,” says Plom. “They don’t know what their business is worth. They don’t know what buyers are looking for. And they don’t realise how saleable their business might already be.”
Toresen agrees. “You don’t need a complicated exit plan or years of preparation. What you need is a conversation. From there, we can help you decide whether to sell, when to sell, and how to maximise the outcome — financially and personally.”
LINK Corporate specialises in selling high-value New Zealand and Australian businesses, managing complex transactions with precision, discretion, and depth. With unmatched expertise, a curated buyer database, and a proven process, LINK Corporate delivers value, clarity, and results for business owners ready to explore their next step.
Ready to take the next step? Get in touch here.
