Business Sale - Bus and Coach Operator
An existing client that we acted for from inception, asked us to arrange a sale of the company for “best price”.
The start-up had itself involved anacquisition for which we carried out the financial due diligence and helped toprepare the company’s business plan. We subsequently attended managementmeetings, prepared monthly management accounts and advised the directors onboth strategic and financial issues.
For the purposes of effecting the sale, weprepared an information memorandum and a teaser document and submitted this toa number of potentially interested parties we had identified including twofully listed public companies operating in the sector.
To demonstrate our belief in the strength ofthe company and our ability to achieve significant value though the sale, webased our fee purely on success with a low percentage if we achieved anythingup to the owner’s valuation but a significantly higher percentage if weachieved more.
Following the selection of a preferred bidder,we supported the management team in negotiations before successfully completingthe sale of the company to a quoted bus operator for a price well over £1m morethan the owner’s valuation.
The purchaser was so impressed with our workthat we continued to be retained to undertake services for the company for sometime after completion.