Assisting in the sale of a business in the leisure industry

Assisting with the sale of a business in the leisure industry.

The SE-Solicitors Corporate & Commercial team acted for a client in the sale of its family-run business and assets in the leisure industry.

The client first approached us to assist in a share sale of their business, however due to a change of buyer the matter developed and concluded as an asset sale. The matter was complicated by multiple matters, including the fact that the business had been trading for several years but had only incorporated in 2019. This necessitated retrospectively establishing the terms on which the business had transferred from the former partnership to the company.

The Value to the Client:

The first stage was to address the need to establish the terms on which the business had transferred. The team worked swiftly and smoothly alongside the buyer’s legal representatives to resolve these preparatory steps before contracts were exchanged.

Given the nature of the business, it was of vital importance to precisely establish which assets belonging to the company would be valued accordingly and transferred, and which assets were the property of the client’s shareholders.

The client benefitted from the firms multi-service offering, as members of the SE-Solicitors Commercial Property department lent their expertise to the case in order to assist with the sale of the land on which the business operated.

The sale went through successfully and the client was greatly pleased with the outcome of the matter.