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Whether you’re acquiring a competitor or entering a new market, our experienced business law team will ensure your purchase is structured properly and thoroughly risk-assessed to ensure you fully understand what you are acquiring. We have 40+ years of experience in helping business owners and entrepreneurs in mergers, acquisitions and disposals.

Legal Advice You Can Trust

Our dedicated Corporate Services Team works closely with clients to provide expertise and strategic insight throughout the acquisition process. We work with a wide range of business owners, investors, and management teams to secure deals that deliver value and minimise risk.

From share purchases to asset acquisitions and management buyouts, we guide you through:

  • Deal structuring and strategic planning
  • Legal due diligence and risk assessment
  • Contract negotiation and drafting
  • Employment, property, and regulatory compliance
  • Post-completion support and integration

What We Can Help You With

Share Purchases

Buying a company through a share acquisition means taking ownership of the business and all its assets, liabilities, contracts, and obligations. We help you understand what you’re inheriting and negotiate warranties and indemnities to protect your interests.

Asset Purchases

Acquiring only the key assets (e.g. stock, goodwill, IP, property) of a business can limit your exposure to liabilities. We advise on asset transfer agreements, employee TUPE issues, and regulatory compliance to ensure a clean and effective transaction.

Management Buyouts (MBOs)

If you’re part of a leadership team looking to acquire the business you help run, we’ll support your MBO with discreet, strategic advice on structuring, funding, and negotiation.

Commercial Property & Employment Law

Acquisitions often involve leases, owned property, or transferring employees under TUPE regulations. Our in-house commercial property and employment teams ensure all these elements are handled efficiently and compliantly.

Due Diligence: Reducing Risk, Increasing Value

We conduct detailed legal due diligence on every aspect of the business you intend to buy—from reviewing contracts and liabilities to checking corporate records and regulatory compliance. This helps you:

  • Identify risks before they become problems
  • Understand exactly what you’re buying
  • Negotiate protections through warranties, indemnities, and conditions
  • Avoid post-completion surprises

Why Choose Franklins Solicitors?

  • We offer complete legal support across corporate, employment, and property law, with more than 40+ years of experience.
  • Every acquisition is unique, so our guidance is based on helping you to achieve your goals.
  • We’ll advise on the best legal structure to protect your investment and support your plans.
  • We work seamlessly with your accountant, funder, and other professional advisers.
  • From initial discussions to post-completion, we’re with you every step of the way.

Contact Us

Frequently Asked Questions about Buying a Business

What legal considerations should I keep in mind when buying a business?

When buying a business, it’s essential to consider several legal aspects to ensure a smooth transaction and to protect your interests. These include:

  • Compliance: Ensuring the business complies with all relevant laws and regulations.
  • Contracts: Reviewing all existing contracts, including leases, supplier agreements, and customer contracts.
  • Intellectual Property: Verifying ownership of all necessary intellectual property rights.
  • Liabilities: Identifying any current or potential liabilities, including debts, lawsuits, or environmental issues.
  • Employment Law: Understanding the implications for existing employees and any obligations under employment contracts.

Do I need to sign any legal documents before purchasing a business?

Yes, there are several key legal documents involved in the purchase of a business, including:

    • Letter of Intent (LOI): A non-binding document outlining the preliminary agreement between buyer and seller.
    • Confidentiality Agreement: Protects any sensitive information shared during the negotiation process.
    • Sale Agreement: The primary legal document that finalises the purchase, detailing the terms and conditions of the sale.
    • Non-Compete Agreements: Prevents the seller from starting a new, competing business for a specified period.

Are there any regulations that I need to comply with to buy a business?

Yes, depending on the nature and location of the business, various regulations may apply. These could include antitrust laws, licensing requirements, environmental regulations, and compliance with employment laws. It’s crucial to identify and address these regulatory issues early in the process to avoid any legal complications.

What costs should I expect when employing Franklins Solicitors for buying a business?

The costs can vary significantly based on the complexity of the transaction, the size of the business, and the extent of due diligence required. Franklins Solicitors offers transparent pricing and will provide a detailed estimate after an initial consultation to understand your specific needs.

What is due diligence, and why is it important in buying a business?

Due diligence is a comprehensive examination of all aspects of the business you intend to buy. It includes reviewing financial records, legal documents, employment contracts, and more. Due diligence is crucial because it allows you to:

    • Understand the true value of the business.
    • Identify any hidden liabilities or potential risks.
    • Make an informed decision about proceeding with the purchase.

How can Franklins Solicitors help me with the process of buying a business?

    Franklins Solicitors can provide end-to-end support throughout the business buying process, including:

      • Conducting thorough due diligence.
      • Drafting and negotiating the terms of sale and other key legal documents.
      • Advising on compliance with relevant regulations.
      • Assisting in resolving any disputes that arise during the process.
      • Providing guidance on financing and tax implications.

    How long does the process of buying a business usually take?

    The timeframe can vary widely, typically ranging from several weeks to several months. Factors impacting the timeline include the complexity of the due diligence process, negotiation length, and regulatory approvals required.

    What are my options if a dispute arises during the process of buying a business?

    Franklins Solicitors can represent your interests in resolving any disputes that arise during the process, through negotiation, mediation, arbitration, or litigation, depending on the nature of the conflict and your preferences. Our goal is to reach a resolution that protects your interests and facilitates the completion of the business purchase.

    What are the key differences between buying a business and starting one from scratch?

    Buying an existing business often allows you to acquire an established customer base, brand recognition, and immediate cash flow, which can offer a faster return on investment than starting from scratch. However, it also requires thorough due diligence to ensure there are no hidden liabilities and may involve a higher upfront cost. Starting a business provides more control over its direction and culture but involves significant time to build a customer base and become profitable.

    Contact the Franklins Business Services team

    If you have any questions about business services, please don’t hesitate to contact our team of experts who are on hand and ready to help you.