Gold Magazine January - February 2014, Issue 34

INTERVIEW CONNECTING THE Falling on difficult times, feeling jaded, lacking succession planning: these are all good reasons to feel disillusioned with one’s business. But hope is at hand. Marios Chiromerides, Managing Director of Connecor Investments, explains how the newly opened Nicosia-based office of this international transfer agency aspires to partner buyers and sellers alike, to mutually beneficial ends. With Connecor connecting all the dots, the process of exiting a business is entering a new era. By Chloe Panayides Photos By Jo Michaelides Gold: What are Connecor Investments’ main practices and what do you offer clients? Marios Chiromerides: Connecor is a business transfer agency. We act as intermediaries between owners and future owners of small and medium-sized businesses (SMEs), tangible and intangible assets located in Europe, Latin America, Southeast Asia and the Middle East, and we assist them during the process of transfer of ownership. We help current business owners successfully plan and execute a transfer of, or exit from, their business or business assets by finding new owners (successors, MBI/MBO, buyers or investors), while they can keep on doing what they do best: i.e. staying focused on running their business and making sure it continues to operate smoothly. An exit strategy is a comprehensive road map that enables business owners to successfully exit a privately held business. It asks and answers all the critical questions that business owners and their advisors must consider when the time has come for them to part with a business. We are in a position to estimate the value of a business and to look for interested buyers. Moreover, we can handle initial potential buyer interviews, discussions and negotiations with prospective buyers, facilitate the progress of due diligence, and generally assist with the business sale and transfer processes. Together with financial and legal experts, we will develop a tailor-made solution to ensure the transaction is carried out in the most tax-efficient manner. We will draw up the necessary contracts and protect all parties involved against unforeseen events, future claims and contingencies. Finally, we help interested investors in finding the appropriate company, business or assets for them to acquire. Gold: What is Connecor’s core mission? How do you ensure – in both daily execution and wider planning – that it is fulfilled? M.C.: Our mission is to connect buyers and sellers of businesses. Selling a business is a process. The more complicated a business is, the more complex issues will arise during the A BUYER WILL NEVER PAY FOR A BUSINESS ON ITS POTENTIAL BUT RATHER ON WHAT HAS BEEN ACHIEVED SO FAR THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS main_story_connecor.indd 47 Gold 47 08/01/2014 09:57

Gold Magazine January - February 2014, Issue 34 | Page 47