Jacobs Allen, a member of the Corporate Finance Network with offices in Suffolk was approached by a Biotech company to assist with its succession planning. The founder and major shareholder wanted to retire from the company and allow the remaining management team to take the business forward.

The Jacobs Allen team led by Chris Kelly advised on the structure of the MBO and determined that the criteria for the favourable tax provisions available on a company purchase of own shares would apply. Keith Senior applied for clearance from HMRC who confirmed that the purchase would be within the CGT regime.

The transaction was completed successfully to secure the founder’s smooth exit and the succession of the business.

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Categories: Deals