North Yorkshire-based accountancy firm Hunter Gee Holroyd (HGH), has advised the owners of a group Lakeside Lodges on their strategic sale to a leisure company.
Mark Grewer, Director of Corporate Finance at HGH was approached by his client when they were approached by the eventual purchaser in February 2020 who declared they would like to potentially acquire the accommodation business.
The approach and subsequent offer coincided with lockdown which complicated the deal. However the HGH team began by negotiating the offer and other perks which would benefit the vendors. The deal was made more complex due to the land being owned by a third party, which also formed part of the overall negotiation.
Mark and the HGH Corporate Finance team, led negotiations on behalf of their client and managed them through the complex Due Diligence process. HGH also appointed experienced solicitors to provide legal support to the vendors throughout the transaction. Mark and his team also reviewed the Share Purchase Agreement on behalf of the vendors to ensure it was in their best commercial interests.
The outcome was a successful sale to the strategic buyer, enabling the vendors to enjoy a well earned retirement.
