A business sale doesn't have to be all or nothing. Many owners instead sell off a defined part of the business — a division, a product, a subsidiary or a collection of assets — and continue running the rest. This is called a partial sale or divestment (also known as a "carve-out").

Why do companies sell off parts of themselves?

  • Focus: A part of the business draws resources without being part of the core operation. Selling it off frees up time and capital for what's actually driving growth.
  • Capital: A partial sale can finance investments in the rest of the business, without the owner having to take out a loan or find outside investors.
  • Risk spreading: Some owners want to "take money off the table" by selling part of the business while continuing to run and develop the rest.
  • Natural wind-down: A product line or activity is no longer strategically relevant, but still has value to another party.

What can actually be sold off?

  • An entire division or business area
  • A subsidiary
  • A specific product line or brand
  • A customer portfolio within a defined segment
  • Physical assets like machinery, property or inventory no longer in use

How does a partial sale differ from a full sale?

In a full sale, the entire business is transferred, and the seller typically exits. In a partial sale, you instead need to define a clear boundary between what's sold and what remains — and ensure the rest of the business can continue to function independently after the transfer. This places different demands on preparation: separated accounts, clear agreements on which employees and customers come with the sale, and often a transition period where the two parts are still dependent on each other.

What should you consider before getting started?

  • Can the part you're selling off genuinely function as an independent unit for a new owner?
  • How does a partial sale affect the rest of the business's finances and operations?
  • Are there shared resources (systems, employees, premises) that need to be split up?
  • How is the part being sold valued in isolation from the rest?

Read more about how to structure a divestment without harming the rest of the business, or see when it makes sense to sell parts of the business off.

Considering a partial sale? Create your listing, or book a call about Advisory & Mediation if the process is complex.

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