Selling your Business – the Team

Posted: 8th June 2022
Author: Andrea Smith
Reading Time: 2 minutes

Now you know what is involved in selling your business, you know how important it is to have the right team around you to guide you with each element of your transaction and ensure the best outcome for you.

Who is involved in the transaction?

The team that you need to sell your business will vary depending on the size and nature of the business. However, I would expect:

  1. Solicitor – we can support you with each element of the transaction. We can provide initial advice on the structure from a legal perspective, draft your non-disclosure agreement to protect your confidential information and Heads of Terms, manage, assist you with and advise you on due diligence, negotiate and draft your governing documents for the transaction and assist you with preparation of your Disclosure Letter. We are there to support you at each stage of the transaction and have your best interests at heart.
  2. Corporate Finance (CF) advisor or agent – they can help you craft the right deal structure for you and take your business to market in a discreet and confidential manner.
  3. Accountant – your accountant is key to assisting with responses to tax and accounting enquiries and dealing with any purchase price adjustment mechanisms, warranties and tax covenants in the SPA and the implications for you from a tax perspective
  4. Independent Financial Advisor – once the deal is done you need to consider how best to invest that money to protect your future. An independent financial advisor can assist with this and we would advise you get them involved at an early stage so that they can assist you with ensuring the deal structure and price is right for your future needs.

Selling your business is a big step to take. Before moving forwards with this, make sure that you have the right team around you to support you with each stage. At the end of the day, it needs to be a team that you not only Trust but that you get along with. After all, there will be a lot of hours, calls and meetings required to get the deal done and having a supportive team that you can call on and talk to on a frank level is essential to reach a positive outcome for you.

Please do get in touch with Holly Threlfall or the team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk

Disclaimer: The information provided on this blog is for general informational purposes only and is accurate as of the date of publication. It should not be construed as legal advice. Laws and regulations may change, and the content may not reflect the most current legal developments. We recommend consulting with a qualified solicitor for specific legal guidance tailored to your situation.