In 2019, Dan Murphy developed RouterJet, an application that provides lead assignments and alerts for Pipedrive, the popular CRM platform. The SaaS offering helps businesses increase efficiency, escalate issues as needed and measure performance. RouterJet was a passion project for Murphy and it received a positive response from the Pipedrive community.
A year after launching RouterJet, Murphy realized that divesting of the business was the right next step. To continue growing the business to a sustainable level would have been a significant commitment, and he had his sights set on another opportunity. He hoped he would be able to transfer RouterJet to someone capable and passionate about the app.
However, Murphy had never sold a business before. He was not sure what the exit process would entail. Naturally, he had concerns. Would he find a suitable buyer? Would the exit be a positive outcome for him and his customers? Would the process be time-consuming?
Thankfully, a friend referred Murphy to FE International. After speaking with the FE team, Murphy felt confident that RouterJet would sell quickly and to the right buyer.
And he was right.
Interest in RouterJet was strong. FE compiled a list of vetted interested buyers, providing guidance and discussing potential risks associated with each offer. His personal advisor walked Murphy through each step of the process and set clear expectations.
Murphy said he would have been overwhelmed had he not worked with FE.
“Instead, I was pleasantly surprised by the ease of the exit process. My advisor valued and protected my time, and only involved me when necessary,” he said. “Since I was looking to reduce the amount of time spent on RouterJet, this was exactly what I needed.”
With FE’s help, Murphy ended up selling to a developer who has since fixed some of the bugs in RouterJet, improving the customer experience as a result.
“I was relieved that we found a buyer who cared about the business and was focused on making enhancements,” Murphy said. “Plus, the process was streamlined. It took less than four months from the initial conversation to closing. I doubt I would have sold RouterJet that quickly and for as high a multiple had I not used FE.”
For Murphy, working with FE International was a no-brainer. He did not have the time to manage the exit process and saw the tremendous benefit that having a trusted M&A advisor brings to the experience.
If you’re like Murphy and looking for a trusted M&A advisor to help manage the exit process for you, contact us for a free valuation of your business today.