Whitings aid business sale deal for jet-setting client.
The corporate finance team at Whiting & Partners, specialists in advising on the acquisition and sale of SME businesses, have recently helped their client to ‘jet off’ on the next stage of his business career.
The deal was led by Chris Kelly, partner at the Suffolk-based firm. It began when a long-standing employee of the firm, a company in the tour operator industry, was considering his options in light of the owner’s upcoming retirement. In order to ensure the progression of the business, Chris provided advice to the client regarding the possibility of a management buy-out. Once the client had made the decision to proceed, the corporate finance team at Whiting & Partners provided advice and guidance on all aspects of the deal; from drawing up the Heads of Terms, to conducting due diligence investigations. They also supported their client by creating detailed financial projections and negotiating the terms of the purchase.
The deal was completed for a consideration of just under £1 million at the end of 2014, with the client looking forward to their new project ‘taking off’ in the New Year.
Blog entry by: Chris Kelly.