Business Sales and Purchases
The sale or purchase of a business is a major decision, and it is vital to get specialist legal advice so that your transaction is completed in an accurate and timely manner and your business interests are protected.
Whatever your reason for buying or selling business assets, Rotheras corporate team is on hand to provide support and practical advice.
Why use Rotheras for your Business Sales and Purchases?
Our team have experience in the sale and purchase of businesses in a variety of industries and sectors.
We can assist you in carrying out due diligence, so you have a thorough understanding of what you are buying, from a business’s assets to its liabilities.
If you are selling a business, we can help you deal with the buyer’s enquiries to ensure you are thoroughly protected.
We can assist in drafting and negotiating the business purchase agreement.
We have long-standing relationships with many local accountants and independent financial advisers who can advise you on whether an asset sale/purchase, or a share sale/purchase is the best option for you.
If you are looking to sell only part of a business, we can help you to separate the business out.
If you are selling your business, we can advise you on how much information to provide prospective buyers to protect yourself from potential commercial damage.
Typical Selling a Business Process
- The parties involved will often negotiate the basic terms of the deal which is sometimes set out in writing using “Heads of Agreement”;
- We will work with you to consider and plan for the future and carry out enquiries and searches where applicable;
- The seller will often require a non-disclosure agreement/confidentiality undertaking;
- The buyer will carry out Due Diligence to obtain various information relating to the company being purchased; if we are acting for the buyer, we can help to prepare a detailed list of questions to send to the seller’s solicitor and keep a detailed record of the answers and documents received;
- The buyer’s solicitor will usually prepare a draft of the business purchase agreement which will be sent to the seller’s solicitor for their review. This may undergo several revisions as the negotiation progresses;
- A Disclosure Letter is drafted by the seller and negotiated between the seller and the buyer. This aims to bring any potential problems to the buyer’s attention by stating any matters that the seller knows of.
This was my first experience using a solicitor, something I felt quite daunted about. Rotheras (Greg and Petra) put me at ease and were very helpful.
Last year I experienced a car accident, as a front seat passenger. I put forward a personal injury claim with Rotheras. From start to finish, my claim has been dealt with efficiently and professionally, and I have always felt my best interests were considered. All communications were made via letter or email to inform me of all further updates. My claim has now come to an end and I am very happy with the overall outcome. I would recommend Rotheras for their service.
We cannot recommend Chris Powell of Rotheras more highly. Mr Powell demonstrated the upmost professionalism with a high level of knowledge of the area for which he was representing us. Anyone needing representation/advice regarding the area of haulage will find that Chris Powell and Rotheras are the best choice.
Claim dealt with efficiently and to a satisfactory conclusion. Wayne Vickers visited me at home initially and explained everything thoroughly. Professional service throughout. Recommended
Jason specialises in all aspects of commercial law including company and business sales and purchases, commercial contracts, company secretarial, partnerships, shareholder rights and much more.
Billy advises businesses on a range of commercial and corporate issues and is happy to assist you with buying or selling businesses, corporate mergers and shareholder agreements
Millie Moreton is a paralegal in Rotheras commercial and dispute resolution departments and is based at our Lace Market office.
How to buy a business: Asset vs Share purchase.
There are many reasons why you would be minded to purchase a business, be this in relation to expanding your business offering, expanding your client base, or taking over a profitable business with existing customers, business assets, cash flow, and a proven track record for growth and success.
Posted on 02/22/2021