Business Sales and Purchases

Due Diligence: Before buying a business, it is important to conduct thorough due diligence to evaluate the financial health, operations, and legal standing of the company. When selling a business, it is important to prepare and present accurate information to potential buyers.

Financials: Understanding the financial performance of the business, including revenue, expenses, and profitability, is crucial when buying or selling a business.

Legal Structure: Understanding the legal structure of the business, including any liabilities, contracts, and licenses, is important for both buyers and sellers.

Industry Trends: Staying up-to-date on industry trends and regulations can impact the value of the business and should be considered when making a purchase or sale.

Valuation: Accurately valuing the business is important for both parties to ensure that the price is fair and reasonable.

Negotiations: Negotiating the terms of the sale, including the purchase price, payment terms, and warranties, is a critical part of the process.

Contracts and Agreements: Ensuring that all necessary contracts and agreements are in place and properly executed is important to protect the interests of both parties.

The process of selling a business can be complex, here is very brief overview of the approach:

Initial Consultation: We would meet with the client to discuss the sale of their business, provide advice on the process and agree on a plan of action.

Preparation of Sale Documents: We would prepare the necessary sale documents including the sale and purchase agreement, confidentiality agreement and information memorandum.

Due Diligence: We provide the buyer with information about the business allowing them to make an informed decision regarding the purchase.

Negotiations: We would represent the client in negotiations with the buyer, including discussions on price, terms and conditions of the sale.

Contract Preparation: Once an agreement is reached, we would prepare a legally binding sale and purchase agreement that sets out the terms and conditions of the sale.

Completion: On completion, we would ensure that all legal requirements have been met and that the transfer of ownership and assets has taken place in accordance with the sale agreement.

Post-Completion: We would deal with any remaining legal requirements such as transferring leases, registering the sale with Companies House and notifying employees and suppliers.

Due diligence: Review of the financial, legal, and operational aspects of the target business to allow the purchaser to make an informed decision to proceed.

Negotiating the terms of the sale: This is where the purchase price is agreed along with payment terms and any warranties or other relevant conditions of the sale are made.

Drafting the sale agreement: Preparing a legally binding document that outlines the terms of the sale and protects the interests of both the buyer and the seller.

Completing legal formalities: Registering the transfer of ownership with Companies House and completing other necessary legal procedures.

Completing the purchase: Finalizing the sale and transferring ownership of the business to the buyer.

Providing ongoing support: We would offer ongoing legal support to the buyer in matters related to the purchased business.