Facilitating the smooth sale of a successful care home

Facilitating the sale of a successful care home

SE-Solicitors were instructed on the sale of a successful care home. The clients were confident that there would be a number of interested parties due to the renowned nature of the home. However, as the clients were aware that there would many enquiries, they did not wish to simply embark on negotiation with each individually, instead choosing to narrow the selection down before proceeding.

The Value to the Client:

The Selling Agents were instructed to prepare and circulate a sales memorandum and a share sale contract to selected interested parties, who were subsequently invited to make an offer on the basis of those documents.

The SE-Solicitors team drafted this share sale contracted in advance, ensuring that an even-handed manner was kept whilst also adhering to the commercial terms on which the client wished to sell. Through doing so, the team successfully saved the client a considerable amount of both time and money, as they were able to avoid unnecessary future time in negotiating the terms of the transaction.

The transaction was led by Corporate Director, Hitendra Patel, a specialist Merger and Acquisition Solicitor with expertise in advising corporate clients on complex and transformational transactions and known for his highly astute, responsive and exceptional corporate legal capabilities. Hitendra was assisted by John Spratt, Commercial Consultant, and Catherine O’Riordan, Corporate & Commercial Senior Associate. The client benefitted from the relevant expertise of other departments in the firm, as the team brought in Directors Andrew Woods Carol Shaw who lent their Commercial Property and Employment knowledge to the matter.

The successful bidder made very few changes to the final share sale contract, and the only single all-party meeting that was required was the final completion meeting.