Howard Worth, a member of The Corporate Finance Network with two offices in Cheshire has successfully advised the management team on a management buy-out of a removal firm.Christian Goulding, Head of Corporate Finance at Howard Worth, was approached by his client after the incumbent shareholders were looking at potential exit options. The Howard Worth team, led by Christian, began by looking at all options for the shareholders and discovered a high-quality management team sitting beneath the shareholders. This provided a strong case for a management buy-out.
The management team was delighted with the opportunity, so the Howard Worth team began advising them on the process. This involved advising on fundraising, preparing business projections, undertaking a tax review and facilitating the final deal.
This led to a successful MBO completion within a couple of months, allowing the Managing Director and Sales Director to become joint owners of the business.
HSBC provided funding and Butcher & Barlow LLP provided legal advice.