Plant Hire Business: Sale successfully agreed.
This plant hire business owner had unexpectedly taken over as managing director of this long established company five years ago, following her husband’s death. Since then she had reorganised the business and improved profitability, but had decided it was now time to retire. Whitings marketed the company for sale and found a number of parties interested in acquiring it. One of these was a local business who was looking to expand and agreement was reached with them.
The Whitings team acted as lead advisors throughout the deal, advising on the structure and drafting the Heads of Terms. We advised on the taxation aspects of the sale, carried out negotiations with the Purchasers and liaised with the Solicitors to ensure a smooth completion.
The sale was completed in July 2016 and has enabled the owner to achieve a financially secure retirement.