Our Process
A clear, transparent process — designed to respect your time and give you confidence at every step. Here's what to expect from first conversation to close and beyond.
We are actively sourcing and evaluating opportunities for Round One, with a target close between Q3 and Q4 2026. This is the first in an ongoing series of acquisitions — Aenigma is built for multiple acquisitions over time. Round One creates focus and real deadline energy for businesses evaluating their timing now. Future rounds will continue on an ongoing rhythm.
Days 1–7 · Active Now
We start with a conversation — no NDA required, no financials asked for up front. Tell us about your business in your own words. We'll share what we're looking for and why we think we might be a fit. The goal is honest, two-way discovery with no pressure in either direction.
Weeks 2–6 · Active Now
If there's mutual interest, we move to a more structured review. We'll ask for a Confidential Information Memorandum (CIM) or equivalent, and spend time understanding the business — financials, operations, team, customers, and competitive position. We sign an NDA before this step. You'll have our full attention during this phase, not a junior analyst.
Weeks 6–10
If we're aligned, we'll issue a non-binding Letter of Intent outlining our proposed terms — price, structure, key conditions, and a timeline for closing. The LOI typically comes with a period of exclusivity while we conduct due diligence. We aim to be clear and direct here; we don't issue LOIs we're not serious about.
Weeks 10–18 (4–8 weeks)
This is where we get into the details — financials, legal, operations, HR, customer contracts, and any third-party assessments needed. We work with your advisors, respect your time, and try to minimize disruption to your daily business. If something significant comes up, we tell you immediately and discuss it directly — we don't use due diligence as a renegotiation tactic.
Q3/Q4 2026 (Target for Round One)
We finalize purchase documentation, coordinate financing, and transfer ownership. Many transactions include a transition period where the seller remains available for knowledge transfer and relationship introductions. We'll work with you to design a handover that feels right — for you, for the team, and for the customers.
Ongoing — indefinitely
This is where our work really begins. We take over day-to-day leadership, bring our operational playbook to bear, invest in the team and the business, and build for the long term. There's no exit strategy. There's just the next year, and the one after that.
Round One closes Q3/Q4 2026. If you're evaluating your timing, now is a good moment to reach out.
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