Joined-up support for a timely sale
Our clients were a close-knit team of shareholders of a leading London-based catering business.
Their business was dynamic and had been growing for some time as a result of an enviable reputation for delivering fantastic service.
The shareholders had received an approach from an acquisitive company that appeared to be on a buy-and-build strategy.
Our role was in the area of Transaction Support and hand-holding the shareholders through the deal.
The joined-up support we provided through different WMT Partners, who all know the business well, was the key to the successful transaction.
Our team assisted with tax planning, carried out due diligence and provided working capital analysis.
The approach meant that we were able to support and assist on the transaction and work with the lawyers and other advisors on the deal.
Andrew Williamson, the Managing Partner at WMT Chartered Accountants, said: “The deal completed at the end of February 2020, just a few weeks before the Coronavirus lockdown closed most of the hospitality sector for more than three months and severely disrupted trading upon re-opening.
“Obviously, at the time of this transaction, nobody knew that this was to come. However, what it does illustrate is that unnecessary delays in the completion of a transaction always risk changing circumstances that could lead to the collapse of the deal.
“Our joined-up approach helped synchronise the various elements of the transaction and the different parties involved, meaning that the deal was able to conclude without delay and so was not affected by the coronavirus lockdown.”