Albert Goodman, a member of The Corporate Finance Network based in South West England with six offices, has advised the owners of a labels business on its sale for £2m.
The Albert Goodman team, led by Director of Corporate Finance, Neil Hutchings was approached by his client when they decided to consider options for selling their business. Having never had an experience during such a situation, the owner sought advice from Albert Goodman regarding the process of selling a business including identifying buyers and negotiating price.
The Albert Goodman team initially advised on tax matters and put in place an EMI scheme to incentivise and retain the general manager who was key in selling the business.
Neil and the Albert Goodman Corporate Finance team assisted the client, first by creating a list of potential buyers. Once buyers began declaring interest negotiations began with interested parties. The buyer with the best strategic fit initially submitted a low offer however Neil negotiated this up by c.66% to achieve a consideration well above his client’s expectation.
The sale was completed and enabled the sellers to be able to retire and pursue other interests.
