March 5, 2013. Winston Company (Winston Chemical Water Gardening brands), a Tulsa, OK company was acquired by The Pond Guy Services, Inc., a Michigan company. Winston Company was advised by ClearRidge.
One purpose of a LOI is to document a mutual agreement between the buyer and seller on the major points of the purchase and sale of a business. With this in mind, a LOI is often signed much too early in the process. There is an understandable eagerness if you are selling a business to receive a Letter of Intent from a prospective buyer as early as possible. In some cases, business owners are even advised that they should request a LOI in order to learn price and terms from the prospective buyer.