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
 
Matilda Mawson
20th May 2019 Property allowance considerations: Joint properties held in unequal proportions

The property allowance was introduced on 5 April 2017, allowing a flat rate deduction of £1,000 to be claimed against property income, in lieu of keeping detailed records of expenses. This however, raises the question as to whether individuals renting out a joint property are required to make the same claim as one another. In…

Read More »

Bethan Hassey
20th May 2019 RSM’s Zorb Football Tournament

  On Thursday 16th May, Whitings attended RSM’s first ever Zorb Football Tournament in aid of the charity GeeWizz! After playing against 5 other firms, Whitings managed to finish 2nd overall based on goal difference.   It was a great event which helped raise money for a great cause. GeeWizz help support children and young…

Read More »

Matilda Mawson
16th May 2019 2019/20 Changes to Personal Tax and How It Could Save You Money

With the new tax year in full swing, we set out below some of the changes to various allowances and tax bands that affect how much tax you are paying: The personal allowance (the amount you can earn before you begin paying tax) has increased from £11,850 to £12,500. The basic rate tax band has…

Read More »

Jodie Tarbin
14th May 2019 PPR and Lettings Relief: an Update

Shortly following the last autumn budget, I published a blog “CGT Reliefs – Hit with Both Barrels!”, regarding the changes announced to the Principal Private Residence Relief (PPR) and letting relief rules.   HMRC have now published a consultation document, which can be found here: https://www.gov.uk/government/consultations/capital-gains-tax-private-residence-relief-changes-to-the-ancillary-reliefs   The consultation period closes at 11:45pm on 1…

Read More »

Adrian Mackenzie
13th May 2019 Putting Time On Your Side

    How can you increase your chances of a successful investment in equities/stocks and shares ?   Please find attached a short paper by Fidelity International on this question.   One of the other most important points is the value in getting advice and making sure any investments chosen are appropriate to your individual…

Read More »

Lucy Bayliss
13th May 2019 Marriage Allowance

  As detailed in a recent blog written by Matilda Mawson (https://www.whitingandpartners.co.uk/has-your-claim-for-marriage-allowance-transfer-been-refused/), a ‘Marriage allowance’ was introduced from 5 April 2015 onwards, which allows a person 10% of their personal allowance to be given to their husband, wife or civil partner.   However, if you or your partner were born before 6 April 1935, you…

Read More »