Albert Goodman, a member of The Corporate Finance Network, with eight offices across South West England, has successfully advised the shareholders of a travel agency on its sale to their management team.The Albert Goodman team, were approached by the owners of the business as they sought advice for selling their shares. Paul Hake, a Partner at Albert Goodman, led the project and provided a number of options for their clients.
It was decided that a management buy-out was the most suitable option. Paul and his team provided advice on the transfer of ownership of the business from founding family members to the management team.
The buy-back was structured by way of a single sales contract with multiple completion dates to secure the maximum tax benefits for the exiting shareholders whilst easing the cash-flow requirements for the ongoing business.
This was followed up with post-deal advice on the accounting and disclosure of the transaction.
The MBO has secured a successful exit for the founding family members and has secured the future of the business in the hands of a new generation of owners.