Albert Goodman, a member of The Corporate Finance Network based in South West England with six offices, has advised the owners of a storage business on their company sale for £4.5m.
The Albert Goodman Corporate Finance team, led by Director of Corporate Finance, Neil Hutchings (pictured) 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 prices.
The Albert Goodman team initially engaged with a buyer who turned out not to be the eventual purchaser after reaching Heads of Terms because they could not secure funding.
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 eventual buyer purchased the business for £4.5m, exceeding the seller’s initial consideration expectations.
The sale was completed and enabled the sellers to be able to retire and pursue other interests.
