Kay Johnson Gee LLP (KJG), a member of The Corporate Finance Network based in Manchester has advised the owners of print management firm on its sale to employees.
The KJG team, led by Corporate Finance Partner Steven Lindsay (pictured), was approached by his client when they decided to consider options for selling their business. The owners did not have experience during such a situation and sought advice from KJG to discuss exit options and advising on a transaction.
Steven and the Corporate Finance team assisted the client, first by presenting various options including selling to a competitor and selling to employees via an Employee Buy-Out (EBO). Steven and his team advised all stakeholders on the structure and then began to implement it when all parties understood what would be happening. The KJG team also assisted with legal aspects liaising with solicitors to the vendor, advised on commercial details of the Share Purchase Agreement and prepared completion accounts which were fundamental to agreeing the final consideration.
The outcome was a successful sale to employees.
Selling to employees is a relatively new and unknown concept which we are beginning to see more widely across The Corporate Finance Network.
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