Albert Goodman, a member of The Corporate Finance Network based in South West England with six offices, has advised the owners of a mobility company on its sale to an entrepreneur during the COVID pandemic
The Albert Goodman team, led by Director of Corporate Finance, Neil Hutchings was approached by his client before the pandemic 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.
Neil and the Albert Goodman Corporate Finance team assisted the client, first by creating a list of potential buyers. Once buyers were identified, negotiations began with interested parties. The challenge with the sale process was the business was declining in revenue.
However the Albert Goodman corporate finance team extensively yet confidentially marketed the business and identified a local entrepreneur who was keen to acquire the business.
The outcome was a successful sale in excess of price expectations within a challenging environment. The vendor is now able to enjoy a well earned retirement and pursue other non-related interests.