Sometimes the local business broker cannot handle a really big deal, such as a chemical industry business for sale. The typical business broker is very good at small deals for their geographic region. The typical business broker helps sell laundromats, truck stops, car washes, grocery stores and local businesses with one or two locations.
There are niche brokers, like those in the restaurant industry. Once get get a little bigger than the mom and pops stores for sale because the owner wants to retire, you get into deals that may involve investment bankers and even the stock market. Mergers and acquisitions are known and M&A, and involve not only the actual business but often things like patents, stock, and complicated trade agreements.
When a chemical m&a is underway, there are a lot more professionals involved to make the deal happen. The due diligence period is much longer and more complicated. And it can get expensive.
When you have a niche industry like chemical mergers and acquisitions you are dealing with a small group of people who already know each other. Their reputations influence the way a deal is structured. As in regular commercial real estate and investment bankers, a person’s reputation for honesty and keeping their word can mean the difference between an expensive due diligence period and multiple audits, fighting all the way, or a straightforward process with everyone working together to make the deal happen.