Overview:
The Azets Corporate Finance team supported a management buy-out of a long standing fabricator of sheet metals from the founding shareholders by the management team.
Key Highlights:
- The transaction was supported with full advisory services. From an initial all-party meeting to ensure both parties understood the process, we were engaged by the company to consider succession options and implications, before being engaged by the management team in relation to the transaction itself.
- Our work included valuation, projections to understand affordability, drafting an offer, funding discussions and reviewing and advising on the financial and commercial aspects of the legal documents.
- As the management team were all already involved in the business, financial due diligence was not required, but specialist tax advice was provided through the provision of due diligence on compliance matters as well as technical areas such as R&D and CIS, and personal advice to the MBO team on their personal situations and the tax implications of their individual contributions to the transaction.
The management team and previous owners worked in harmony and unison to achieve a great outcome for everyone, ably assisted by our Advisers including Katherine Broadhurst at Azets Accountants
Azets comment:
“It was a pleasure to support the management team with this transaction, working with them across all aspects of the transaction with specialist colleagues to provide a tailored approach including early planning, projections and funding, undertaking due diligence, and providing personal taxation advice.
Malcolm and Jonathan have built a strong business with exciting opportunities and this transaction will enable the management team to continue that success into the future.”
