Selling a marine or logistics company

The problem

Plenty of good businesses don’t sell for what they’re worth, or don’t sell at all. Buyers walk away when the books aren’t clean, the business depends too much on the owner, or one customer is too big a share of sales.

And the real estate can kill a deal late: a landlord who won’t consent to an assignment, a lease with too little term left, or a property question nobody looked at early. Here, waterfront access, yard space and long-standing contracts are often what a buyer is really paying for.

What I do about it

I start with a confidential look at the business and the real estate together, so the things that make buyers nervous get fixed before they ever see them. I know what active buyers are looking for, I help you get the business ready, and I handle the lease or property side, which is where a lot of sales get stuck.

Everything goes through Coldwell Banker Prestige Realty and is agreed in writing first.

Ready now or planning ahead, the first step is the same. See succession planning for what happens on the first call, realistic timing and what to gather.

What buyers in this space look for

• Long-standing customers in industries that keep moving: construction, resource projects, coastal communities, ports and industrial sites.
• Vessels, vehicles and equipment in good shape, with maintenance records and certificates that are up to date.
• Licences, certifications and safety records. A clean record is a real asset.
• Moorage, water lots, yards or warehouses that the business can keep using after the sale.
• Crews and dispatchers who stay. Experienced people are hard to find, and buyers know it.
• Owner-operated, steady profit. Size is a moving target, but many of the private equity and holding-company buyers I talk to look for businesses with about $1 million or more in yearly profit (EBITDA). Some look smaller, and individual buyers often do.

Why and when owners sell

Retirement and succession are the most common reasons. Some owners have built something that now needs a bigger fleet or more working capital. Others are tired of being on call.

If you can, start the conversation while you still enjoy the business, because buyers can tell.

How a confidential sale works

1. A first conversation. Just us. What you have, what you want and when.
2. A quiet look at the business and the real estate. I can tell you what buyers are likely to like and where they’ll push.
3. Getting ready. Statements, the lease or property, a list of what’s included. Your accountant and lawyer come in early.
4. Approaching buyers carefully. A short, anonymous summary first. Details only after a confidentiality agreement, and only to buyers you’re comfortable with.
5. Offers and due diligence. Usually a letter of intent, then a closer look at the books, contracts, staff, equipment and the lease.
6. The lease or property. Landlord consent and a release, or the property terms if you own the building. This is where deals often stall, so I start on it early.
7. Closing and handover. Many owners stay on for a set period to help with the transition, if they want to.

Where the real estate fits

Moorage and water lot agreements, waterfront leases and industrial yards can be the hardest part of a marine or logistics sale. Some are licences rather than leases, some need consent from a port or government landlord, and some have short terms.

I look at these early so they don’t hold up the deal. Any work I do on a sale is through Coldwell Banker Prestige Realty and agreed in writing first. Where the sale is shares only, with no real estate, I’ll say so up front and work with your lawyer and accountant on those parts.

Where everybody wins

You want a fair price, care for your staff and customers, and a clean exit. A buyer wants a well-run business they can trust, with a lease or property that supports it. A landlord wants a strong new tenant.

When the business is ready and the real estate is sorted early, all three can say yes.

Questions people ask

Who buys marine and logistics businesses in BC?

Private equity groups, long-term holding companies and operators looking to expand along the coast or into new routes. Many keep the crews and the local name.

Does my moorage or water lot agreement transfer when I sell?

It depends on the agreement. Some need consent from the landlord or authority, and some are licences with fewer rights than a lease. Check the terms early, before you talk price with a buyer.

How long does it take to sell a marine or logistics company?

Often six months to a year from the first conversation, depending on the books, the equipment, and any consents needed for moorage, leases or contracts.