Nichsolsons, the representative firm for The CFN in Lincolnshire, have recently completed a due diligence exercise which resulted in the deal being aborted.
Richard Hallsworth and the team at Nicholsons, were asked to advise a potential Management Buyout team on the acquisition of a local business which employed around 30 people.
However, after preparing financial projections it appeared that the business could not sustain the current level of overheads and direct costs. The MBO team attempted to negotiate an alternative deal, but could not agree on a structure with which they were both satisfied. Therefore the deal was eventually aborted.