The Firm’s expertise in business sales and acquisitions is built on many years of practical involvement in this field, with businesses of varying sizes and nature. From small restaurants and takeaways to hotels, surgeries and professional businesses.
The founding partner believes in early due diligence when acting in an acquisition and early preparation of documentation when acting on a sale, which often avoids tricky issues arising further down the transaction when both parties have committed to much larger time and costs. HUSANES LLP will guide you through the whole process, identifying your objectives and ensuring that any issues which arise are dealt with in the most cost effective and time efficient manner, with an emphasis on practical steps taking account of commercial realities.
As an example of the need to ensure that any professional advisor understands that a business transaction has many layers that require attention, the founding partner recalls a transaction where a colleague in the company commercial department of a firm had acted for one partner buying out the share of another partner, in a business. With ‘elastic payments’ having been agreed, it did not take long for the parties to have a fall out. What made the situation more difficult was that the company commercial colleague had overlooked the property aspects of the transaction. When the commercial lease came up for renewal under the 1954 Act, the landlord refused to renew the lease in the name of the remaining partner, insisting that both parties would have to take the lease renewal. Other than the obvious embarrassment, if the outgoing partner had been asked to participate in the lease renewal, this could have resulted in a very difficult situation. The founding partner put forward arguments which eventually persuaded the landlord to grant a new lease in the sole name of the remaining partner. All of this could have been avoided, if the person acting at the time of the buyout had understood the several layers to the transaction.