When considering disposing of your business it is preferable to seek legal advice early on in the transaction.
We can assist in preparing the business and/or target company for sale; the structuring of the transaction and drafting of any heads of terms. It could in the long term keep costs to a minimum and protect the value in your business and avoid a buyer from trying to seek a reduction in any sale price in respect of issues that could have been resolved in advance of the sale.
Acquisitions are usually structured as an asset sale, a share sale (if a limited company is involved). They can be sold to third parties or members of the management team through a management buy-out. It is common for exiting business owners / shareholders to have some continuing financial consideration in the ongoing business and/or company often for s short period of time following completion.
There are advantages and disadvantages to the structuring the sale/acquisition and it is important that specialist advice is taken at an early stage.