Haworths Chartered Accountants, a member of The Corporate Finance Network, with three offices in the North West, has advised the management teams of a software company on its successful acquisition of another software firm for £1m.The Haworths team, led by Director, Paul Spencer, was approached by a long-term client who sought advice on how to grow their business further. Paul and his team began by conducting an extensive review of the financial and market position of the business. They presented a number of options including an acquisition strategy.
Using The Corporate Finance Network's research support, Paul shared a number of acquisition opportunities with his client before they decided to approach a business which matched their acquisition criteria.
Paul led negotiations and structured the deal on behalf of his client, which included many challenges. The Haworths team managed to resolve a number of issues uncovered during Due Diligence, while protecting their client. The eventual deal was an asset purchase, valued at £1m.
Haworth's also acted as a communication channel for their client and the solicitors, Forbes.
The deal is now complete and their client is very excited by the prospect of growing the acquired software business, alongside their existing business.