Albert Goodman, a member of The Corporate Finance Network, with eight offices across South West England, has successfully advised the shareholders of a waste management & landfill business on its sale.The Albert Goodman team, led by Neil Hutchings was approached by the shareholders after they unsuccessfully marketed their business for sale with another corporate finance adviser.
The deal was challenging due to the sellability of the business which included significant environmental concerns, multi-entity business, corporate shareholder owned by a number of family members, many of whom were not active participants in the business, additional landfill tax obligations in addition to normal taxation obligation and the business had limited management information systems.
However, Neil Hutchings and the Corporate Finance team at Albert Goodman overcame these challenges and received offers much higher than they achieved with their previous adviser. The quantum and terms of the buyer's proposed deferred consideration were significantly negotiated downwards. The vendor's exposure to warranties and indemnities was significantly negotiated to acceptable levels.
Albert Goodman also provided management and clarity for key business information which was unorganized and located in various systems.
The result was excellent for the shareholders and the local economy as 30 jobs were saved.