Acquisitions and disposals

Acquisitions - leaving management free to manage their business

Many acquisitions fail to live up to expectations. The poor strategic fit, failure to identify problems with the quality of earnings, overly optimistic estimates for synergies or the lack of an integration plan. We have the expertise you need, having conducted numerous transactions, to help you overcome potential barriers to a successful acquisition, working with a senior team of professionals who really care about your success.

We will help you to develop and refine your business strategy.

If you decide that growth by acquisition is the appropriate route, we will help you to identify suitable target businesses through our contacts and databases.

We can:

• agree a strategy for approaching targets
• advise on pricing
• assist in the preparation of a business plan and a financial model
• advise on any associated funding and capital raising
• negotiate with the vendor
• co-ordinate the work of other professionals.

Disposals - access capital markets and raise your corporate profile

We always aim to protect and improve the vendor’s interests both in terms of value today and responsibilities following the transaction.

We are accustomed to working closely with legal advisers and with them we seek to minimise the impact of warranties on the vendor.  If requested, we will undertake a tax review to ensure that the vendor is aware of all opportunities which might reduce the impact of taxation upon the disposal.

Our principal tasks during a disposal will be to:

• prepare a sales memorandum
• identify potential acquirers
• obtain confidentiality letters
• supply limited information to confirm interest and indicate price
• supply the full memorandum to selected potential acquirers
• conduct detailed negotiations
• assist the legal advisers in finalising the purchase and sale agreement.

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