Albert Goodman, a member of The Corporate Finance Network based in South West England with six offices, advised an education business in a management buy-out.
Matthew Chandler, Partner at Albert Goodman, was approached by a potential MBO team when they decided to consider their options
With the aid of Porter Dodson, Matthew and the Albert Goodman Corporate Finance team assisted the client. Advice was provided on the whole process, including valuation, affordability, acquisition vehicle, financial and tax due diligence, arriving at Heads of Terms and advice around the legal contracts including the Share Purchase Agreement (SPA)
There were complications around various intercompany debts which could not be waived. Therefore, there were some significant negotiations to reach a satisfactory debt repayment agreement. A simplified purchase price calculation was created to avoid complications and ensure quick and efficient completion.
The outcome of the deal was a successful acquisition by the client of Albert Goodman and the MBO team can now take the business forward under their ownership.
