MBO Exit for Jet-Setter

3rd March 2015

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.



 
Other items in Blogs
 
Ian Piper
15th April 2021 2021 SME Growth: Revenge Spending?

As we pass the Covid-19’s first anniversary of its impact on our area’s economy, accounts of local SME’s are now starting to show part of the damage they have experienced through the lock-downs and associated restrictive measures. Thankfully, through Government financial help and the nimble footwork of businesses adapting to survive, the overall effect upon…

Read More »

Jaimie King
15th April 2021 Life after CBILS: The Recovery Loan Scheme

The government-backed Coronavirus Business Interruption Loan Scheme closed on 31st March to new applicants. Thankfully, the government has put in place further support for businesses, to follow this.   The Recovery Loan Scheme – Government backed loans, 3 months – up to 6 years depending on the product – Up to £10m, no cap on…

Read More »

Vanessa Pearson
26th March 2021 6 April: A Guide to Off-Payroll Working Tax Rules

The proposed new rules apply regarding who determines IR35 status for freelancers hired by medium and large companies are imminent. Our Brief Guide will help find out how this affects you and what you can do: A Brief Guide to Off-Payroll Working Blog entry by: Vanessa Pearson

Read More »

Ben Kilby
25th March 2021 I hear a rumour…

I hear a rumour that Lloyds Agricultural banking team based in Edinburgh has been disbanded and merged within other teams around the country. Although some within the new regional teams may have some knowledge of agriculture it has been suggested that customers felt that this was not important. It seems that the agricultural specialism within…

Read More »

Fiona Mann
24th March 2021 Making Tax Digital – the next steps

Our MTD Group have produced Issue 5 of their newsletter giving details of Making Tax Digital (MTD) as it continues.   So if you are unsure of what to do next, our newsletter has information and advice how to proceed.  Don’t delay however as penalties will be introduced if submission deadlines are missed.   W&P_MTD5…

Read More »

Amanda Newman
18th March 2021 Holding residential lettings in a company

There has been an ongoing debate since the government started to reduce tax relief available on mortgage interest that having property in a company could be more beneficial.   In order to transfer the property from personal ownership there could be a CGT charge depending on the difference in value from when you bought it…

Read More »