North Yorkshire-based accountancy firm Hunter Gee Holroyd (HGH), has advised the owners of a holiday park with lodges and a lake on their sale to another holiday park in the region.
Mark Grewer, Director of Corporate Finance at HGH was approached by his client after they wanted to consider exit options for their Yorkshire-based holiday park. Within the local area, another holiday park operator was interested in acquiring the business to add a second park to their portfolio.
The eventual purchaser offered a total consideration of £1.2m however Mark and the HGH Corporate Finance team managed to negotiate the offer up 20% to £1.5m. Once the Heads of Terms were agreed, HGH advised their client through the sale involving the added complication of separate sales for the operating business and the land.
Mark and the team advised their client throughout the transaction, liaising with solicitors, and completed the deal in a very reasonable timeframe with a higher valuation of £1.5m.
