Assynt Corporate Finance Limited, a member firm of The Corporate Finance Network in Hertfordshire, advised on the disposal of the assets of a boarding kennels business.
The business had been advertised for sale through an agent, who identified a buyer for the assets. The agreed transaction involved the sale of the customer list, equipment, and the transfer of employees under TUPE Regulations. The company retained the premises, with a lease negotiated to support the post-completion structure. Andrew Watkin led the engagement on behalf of Assynt, setting out the proposed transaction structure and progressing discussions to agreement of terms, enabling the sale to proceed.
The asset sale and retention of the freehold enabled the shareholders to step back from the day-to-day running of the successful business they had created, while retaining an interest in the property through a commercial lease – providing rental income as part of their retirement funds. The owners received consideration for the tangible and intangible assets and created an ongoing rental income stream. The buyer took over the business and employees without needing to raise additional funding for the freehold property.
