//Buying or Selling a Business

Buying or Selling a Business

Transfer of Shares or Transfer of Assets

We have a wealth of experience acting for clients in business sales and purchases, from businesses worth thousands of pounds to many millions. Regardless of the value, we realise how important the investment or sale is to you. It is your future and your business. We recommend that you get in touch with us and speak to your accountant as early as possible in order to address some key considerations, such as whether the acquisition or disposal is one of shares or assets in the company.

The choice between the acquisition or disposal being of shares or assets depends on a number of factors, which may include the tax implications or consequences or quite simply your preferred speed of the transaction which we appreciate on occasions can be the most important thing to you.

If you are selling:

We will help you and your professional team to dispose of the business as quickly and efficiently as possible; maximising the value of your business.
Your business is full of confidential and sensitive information. If we or you feel it is necessary we will ensure your purchaser enters into a binding confidentiality agreement before any sensitive business information is divulged; which means that you and your business are protected if the sale doesn’t proceed.
Selling a business is a complex transaction and difficult issues can arise. Our experienced and qualified solicitors are on hand to steer you through any unforeseen issues, so as to ensure that your commercial interests are protected in the best way possible throughout the process.
We will help you to answer the many questions that your purchaser may ask and ensure that your liability following the sale is kept to a minimum; so you will get to keep the sale proceeds!
If you are buying:

We will help guide you through the transaction and to find out as much as possible about the business you are purchasing, a process referred to as “due diligence” by lawyers. This means you will know what you are buying, good or bad.
You need to know that you are protected in the event that, following the purchase, things are not quite as your seller said they would be. We will work with you to agree suitable warranties with your seller, so that you can invest with confidence and know that, if things go wrong, the sale agreement will protect you.
We will also help you with the funding arrangements for the acquisition, to ensure that the transaction can be completed on time and without unnecessary costs being incurred.
There are an enormous number of reasons why you might be seeking to buy or sell a business and we get to the commercial heart of what you are doing. Working closely with you and/or your other professional advisers enables us to deliver the best outcome to suit those commercial needs. We realise that these events do not happen within the boundaries of traditional working hours. Our team of specialist and experienced solicitors are on hand to help deal with those unforeseen queries that crop up outside those hours and which have the potential to delay the process, potentially increasing costs.

The result of all of the above is the outcome that you need, in the timescale you need it and to an agreed budget. Those are the things that our clients value so much.

Joe Middleton FCCA ACIS

Senior Partner I Commercial Property

01844 268 304

jmiddleton@lightfoots.co.uk

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