The current marketplace for private companies is made up, essentially, of four types of acquirers. An outline description of each is as follows:

The Strategic Acquirer

• typically a large firm, usually a Public Company
• accustomed to long term planning
• economic considerations are evaluated, however, reason for
• acquisition is not always purely economic.
• acquisition prompted by factors such as establishing new markets.

The Corporate or Sophisticated Acquirer

• typically comes from a large company background
• employs "schooled" approach when determining value
• usually a high net worth individual, a group of individuals, an investor group, or a small Corporation
• focuses on current and future, rather than past
• places primary emphasis on capitalization of earnings, and on the ability to finance and leverage a purchase.

The Financial Buyer

• usually an individual
• primary focus on income replacement and the opportunity to build equity
• major emphasis placed on historic and current conditions.
• case for case, the perception of risk is likely to be higher than that of the strategic or corporate style acquirer.

The Industry Buyer

• usually from within the same, or affiliated, field as the company.
• primary focus is on a business' fixed assets.
• presumes that they will bring virtually all other value to the enterprise.