Navigating a complex sale

Navigating a complex sale of Marcon RMC Ltd

Corporate & Commercial Consultant, and Founding Partner, John Spratt acted for the seller of a building materials company into the public sector. The client’s corporate finance advisers, Bristol York LTD, had negotiated favourable terms for the sale of the client’s company. However, it appeared that, for tax purposes, the transaction had to be completed with in a particularly short and accelerated time period.

The Value to the Client:

The transaction proceeded rapidly and comfortably, with assistance from other members of the Corporate & Commercial team including Director Hitendra Patel. The team undertook full due diligence enquiries of the purchaser and produced all of the deal documents required for the sale.

Only days before the transaction was scheduled to be completed, John and the SE-Solicitors team discovered a problem with one particular contract which was key to the business being sold. Reacting quickly, the team brought in Commercial Property Director and Managing Partner, Andrew Woods who worked alongside John all weekend to analyse the company’s position regarding the contract. The clients were met with, and a deal was arranged with which the purchasers were finally satisfied. John successfully negotiated so that the client was protected from any claim which could potentially arise in respect of this contract after completion.

Everyone involved, including the SE-Solicitors team, the Bristol York team, the client and the purchaser were delighted to conclude the transaction within the required accelerated time period and on satisfactory and safe terms.