--- title: Assembling an Acquisition Team to Buy a Business description: We know the keys to assembling an acquisition team and how to successfully carry out an acquisition process while staying on task. image: https://www.tworldnorthstar.com/hubfs/2146.jpg --- **[![phone](https://www.tworldnorthstar.com/hubfs/2020%20Website/white-phone-solid%20(1).svg "phone")(888) 290-5232](tel:888-%20290-5232)      ![envelope](https://www.tworldnorthstar.com/hubfs/2020%20Website/envelope-solid-white.svg "envelope") [northstar@tworld.com](mailto:northstar@tworld.com)** [![TRANSWORLD-LOGO-2023-2Color-VF-02](https://www.tworldnorthstar.com/hs-fs/hubfs/Tworld%20Logos/TRANSWORLD-LOGO-2023-2Color-VF-02.png?width=1801&height=600&name=TRANSWORLD-LOGO-2023-2Color-VF-02.png "TRANSWORLD-LOGO-2023-2Color-VF-02")](https://www.tworldnorthstar.com/) ![4 Team members](https://www.tworldnorthstar.com/hs-fs/hubfs/2020%20Website/Imagery/4%20Team%20members.jpeg?width=1350&name=4%20Team%20members.jpeg "4 Team members") # Transworld Blog From business brokerage to mergers and acquisitions; we are the business sale specialists. - [buying a business](https://www.tworldnorthstar.com/blog/topic/buying-a-business) # [Assembling an Acquisition Team to Buy a Business](https://www.tworldnorthstar.com/blog/assembling-an-acquisition-team-to-buy-a-business) [Read More →](https://www.tworldnorthstar.com/blog/assembling-an-acquisition-team-to-buy-a-business) - [buying a business](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Case Studies](https://www.tworldnorthstar.com/blog/topic/case-studies) - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fassembling-an-acquisition-team-to-buy-a-business) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fassembling-an-acquisition-team-to-buy-a-business) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.tworldnorthstar.com/blog/assembling-an-acquisition-team-to-buy-a-business) [All Posts](https://www.tworldnorthstar.com/blog) # Assembling an Acquisition Team to Buy a Business - [Tweet](https://twitter.com/share) Regarding the process of buying a business, [many more professionals](https://www.inc.com/guides/2010/12/how-to-execute-a-successful-acquisition.html) are required to be involved than would appear on the surface, so assembling an acquisition team is a critical component to the process. Besides the buyer and the seller, the two main individuals in any business transaction, an entire team of professionals both from within and outside of the business industry must be developed before an acquisition can be completed. At Transworld Business Advisors of Minnesota, we know exactly[who both buyers and sellers need on their individual teams](https://www.tworldminnesota.com/blog/selling-a-business-who-needs-to-be-involved-in-the-sale-of-a-business), and how to successfully carry out an acquisition process while staying on task. ## Attorney(s) When it comes to purchasing a business, a [professional and experienced attorney is your best bet](http://www.legalmatch.com/law-library/article/buying-and-selling-a-business.html) at helping you successfully acquire the business you’re after. Attorney’s play an active role throughout the purchase![ASSEMBLING AN ACQUISITION TEAM TO BUY A BUSINESS](https://www.tworldnorthstar.com/hs-fs/hubfs/2146.jpg?width=320&name=2146.jpg "ASSEMBLING AN ACQUISITION TEAM TO BUY A BUSINESS") process. They perform the primary negotiations between buyer and seller, draft the formal proposals, conduct a pre-closing review, and effectively close and transfer the business upon purchase completion. To get the best deal possible pertaining to the business, consult with an attorney early on in the acquisition process. They’ll help you to find ways to minimize your future taxes and avoid any potential liability issues. ## Accountant(s) A professional accountant with expertise in the business financing field will help you manage, and understand, the financial situation behind an existing business, and the financial responsibilities you will be undertaking as the new business owner. During the acquisition process, you’ll be handed multiple financial reports that to an untrained eye, may seem like gibberish. An accountant will help you decipher these reports, and guide you towards making the best financial decision possible during the purchasing process. ## Business Owner(s) Of course, in the sale of a business, the existing business owner, or owners, must be present and aware of where you are in the purchasing process. The existing business owner is a crucial part of your team, as they probably want to sell their business to you just as much as you want to acquire it. Build a trusting relationship with the seller, and nurture this professional relationship well after the purchase process is complete.  ![Scott Hislop](https://www.tworldnorthstar.com/hubfs/website_templates/TWMN_2016/blog-thumb-scott.jpg) ###### Scott Hislop CEO & Owner at Transworld Business Advisors | Business Brokers Helping Entrepreneurs Achieve Their Dreams and Goals Through the Complex Process of Buying or Selling a Business [Get In Touch](https://www.tworldnorthstar.com/talk-to-advisor) ![](https://cdn2.hubspot.net/hubfs/2029673/Assets/Search_Image.png) - Recent - Popular - Categories ### Lists by Topic - [buying a business (56)](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business (26)](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs (10)](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Business Sale Process (8)](https://www.tworldnorthstar.com/blog/topic/business-sale-process) - [Financial Related (8)](https://www.tworldnorthstar.com/blog/topic/financial-related) - 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Where you might imagine pop-up tent trailers going for $15–20K, the owner and his team specialized in high-end adventure vans, or “Class B” RVs, ranging between $100–200K. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Jan 11, 2024 3:17:00 PM ## [Case Study: How Transworld Helped PWC Sell Their Business in 7 Months](https://www.tworldnorthstar.com/blog/case-study-how-transworld-helped-pwc-sell-their-business-in-7-months)   Sales Timeline: 7 Months   The Background Professional Wireless Communications. Inc. (PWC) has provided reliable and affordable two-way radio solutions in Minnesota and Iowa for 25 years. The company has a loyal and diverse clientele, from schools and hotels to casinos and stores. Pat and Paula Green, a husband-and-wife duo, started the business from scratch. With Mark, their salesperson and 20% owner, they have built a profitable and reputable enterprise. As they neared retirement, the Greens wanted to sell the company and focus on family. Mark also desired to sell, but remain employed by PWC. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Aug 24, 2023 9:00:00 AM ## [Case Study: Selling a Pet-Sitting Business in Less Than 4 Months](https://www.tworldnorthstar.com/blog/case-study-selling-a-pet-sitting-business-in-less-than-four-months)   Sales Timeline: Less than 4 months Sale Price: $320k   The Background Located in the Twin Cities, the owner of Whiskers to Tails Petsitting had proven to be a successful entrepreneur focused on providing care for animals in the home. As a former employee, the owner took over the business in 2019 and successfully operated it through the COVID-19 pandemic. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 5 min read - Aug 17, 2023 9:00:00 AM ### Your Goals Are Just the Beginning Talk to one of our Advisors today about next steps. 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