Case study - MGP Electrical - Business Sale
Thursday, 30 March 2017
MHA Larking Gowen assisted in the successful sale of a 100%interest in MGP Electrical, enabling the owners to enjoy a well-deserved retirement in the knowledge that their loyal employees’ jobs were preserved and their customers would continue to be serviced to the high level they had become accustomed to.
We worked closely with our client to help them realise the value contained in the business, whilst at the same time looking after their employees and customers.
Mike and Gill Pearson, owners of MGP Electrical, said: “When we decided it was time to retire my wife and I engaged the expertise of Corporate Finance and in particular Ian Nelson. From our first contact Ian helped us to look at what we hoped to achieve. From there on he offered help and support through the search for and negotiations with our eventual buyer, leading to a successful sale. Without his help I do not believe we would have had such a positive conclusion to 35 years in business.”
Ian Nelson, MHA Larking Gowen Senior Manager, said: “When selling, you only get one chance to be rewarded for all the hard work put into building up your business, so it was great to be able to guide Mike and Gill through the sales process and ensure they were rewarded for the goodwill built up over the years.”
Larking Gowen Corporate Finance was asked to undertake the following work:
- Review of Heads of Terms
- Negotiate with buyers and their agents to agree the price paid at completion
- Handling financial due diligence enquiries
- Advice on the commercial and tax structure for the acquisition
- Co-ordinating the deal to enable the sellers to concentrate on running the business
- Liaison with legal team and advising on financial and taxation warranties and indemnities