We know you have worked hard to build your company

When it comes to selling it you can rely on us to handle all aspects of the process to ensure you get the deal that you deserve.

So whether you are ready to enjoy retirement or move on to other business interests, you can rest assured that we will provide a professional service that is considerate of your needs.

You stay in control

We always work in your best interests, guiding and supporting you through each stage of the sale process whilst enabling you to remain in complete control of the deal.

We stand apart from other advisors and business transfer agents, combining our expertise of corporate transactions with a full range of in-house accountancy services to help clients get the best from their sale.

Our experience tells us that confidentiality is key to a successful transaction, so we protect information and communicate with discretion. We also have a team of tax and accountancy experts who will work to secure a great deal using their expert knowledge and help your sale to go through smoothly.

Management buy-outs

As an opportunity to reward key managers for their efforts and loyalty, a management buyout (MBO) may be worth considering as an alternative to selling your business to a third party.

As experts in this field with a huge amount of success under our belt, we are able to provide safe, solid, dependable advice if this is the option you choose.

In-house tax advice

We differ from many business transfer agents.

We also have a team of tax and accountancy experts who will help your sale go through smoothly. They will work to secure a great deal using their expert knowledge.

The sale process:

 

 

The first step is for us to understand the background to your business, its likely attractiveness to potential purchasers and your longer-term strategic objectives. In addition to a possible sale to an external investor, we will consider the viability of other exit options, including a management buy-out and / or company buy-back of shares.

To maximise the attractiveness of your business, nullify any potential “deal breakers” and identify and implement tax planning opportunities, we offer our clients a pre-sale due diligence service. Our findings and recommendations are presented in a written report, and the pay-back from this work is often substantial.

To help in gaining interest from possible purchasers, and without revealing its identity, we will prepare a one-page ‘teaser’ document aimed at highlighting the key attractions of your business. In addition, we will put together a full sales document, often referred to as an Information Memorandum (IM), which sets out the identity, background and key merits of your business. These documents are always signed-off by you giving you complete control.

Utilising our comprehensive deal databases and specialist industry reports, we will agree with you a list of highly credible potential purchasers. Where appropriate, this will include private equity firms and overseas acquirers.

Using the teaser document, we will approach potential acquirers and invite them to sign a Non-Disclosure Agreement (NDA). We will also confidentially advertise your business for sale using our regional, national and international networks. Only those parties that sign and return a NDA will obtain a copy of the IM.

We will compare and contrast the offers received for the business and provide you with calculations of the likely net proceeds after tax. Working on your behalf, we will negotiate with potential acquirers, with the aim of maximising the terms of any offers to ensure you get the best result.

Once a deal is agreed in principle, the main terms are set out in a short document, often referred to as Heads of Terms or Heads of Agreement. This is not usually legally enforceable, although clauses covering confidentiality and exclusivity usually are.

Using Heads of Terms as a guide, the buyer’s solicitor usually prepares the legal contracts needed for the deal. This will include the agreement of warranties and indemnities given by the seller to protect the buyer after the deal has completed. It is not unusual for several drafts of these legal documents to be prepared before negotiations are agreed.

It is highly likely that the buyer will wish to undertake some due diligence on the business so they can understand exactly what they are acquiring. We are on hand to help field and answer any enquiries made by the purchaser’s team and can provide a physical or virtual data room if needed.

In order to reach a swift and efficient deal completion, we will work with your appointed solicitor and give advice on the financial aspects contained within the legal documentation, including warranties and indemnities.

Depending upon the mechanics of the deal, there may be a need for accounts to be prepared after the deal has completed. We can assist with the preparation of these accounts, and agree any adjustment to the final sale price. If needed, we can also help with ensuring the sale doesn’t impact financially the operations of any other businesses you may own.

Our tax specialists are available throughout the process to give you complete peace of mind. They can ensure the deal is structured tax efficiently and in certain instances before the deal completes, they can seek agreement with HMRC on the tax treatment arising from the transaction.

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Get in touch

T: 0330 024 0888

E: corporatefinance@larking-gowen.co.uk

Kate Baines

Kate Baines

Manager

James Lay

James Lay

Partner

Matthew Laxton

Matthew Laxton

Assistant Manager

Courtney Mattocks

Courtney Mattocks

Executive

Jack Minns

Jack Minns

Manager

Ian Nelson

Ian Nelson

Senior Manager

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