Trade Sale – Enigma Marketing Services

Backstory

Enigma Marketing Services Ltd, a successful B2B technology marketing agency with offices in the UK and Australia, had been thriving for over 25 years. With their legacy established, the co-founders began considering their exit options.

The Challenge

As Enigma’s first Finance Director, Lak immediately recognised the importance of preparing the business for a potential sale. Buyers expect a company to be “transaction ready” — with robust contracts, clean financials, and governance fully in order. This preparation not only makes the business more attractive but also maximises value and reduces risk during negotiations.

The Approach

Lak guided the founders through pre-exit planning, ensuring that:

• Client and supplier agreements were formalised
• HR policies and compliance were fully up to date
• Company records and filings were in order
• Management accounts were timely and in the format buyers expect
• A secure Data Room was opened to manage due diligence

But before the process was complete, Enigma received an unsolicited approach from a US media agency seeking a strategic UK acquisition. Lak quickly pivoted the plan into action, advising the founders on how best to engage with the buyer.

Once initial discussions showed promise, both parties signed a Letter of Intent (LoI) — a critical step requiring expert legal and financial input. Lak brought in trusted corporate finance lawyers and accountants from his network, ensuring advice was both cost-effective and deal-savvy.

The Solution in Action

Lak managed the entire due diligence process — a rigorous, months-long review of financial, legal, and commercial matters. By overseeing document preparation and liaising with advisors, he shielded the founders and leadership team from the heavy lifting, allowing them to stay focused on clients and growth.

The Results

After a seven-month process, the acquisition was successfully completed. The founders achieved an excellent outcome, employees benefitted from the transition, and disruption to the business was kept to a minimum.

Lak’s prior M&A experience — having advised both buyers and sellers — proved invaluable. His leadership, foresight, and network of specialist advisors ensured the transaction was smooth, balanced, and ultimately rewarding for all parties.