3 days ago
Business Sales & Acquisitions
The firm has acted for a wide portfolio of clients, ranging from sole traders to large concerns.
- Agriculture & Rural Business
- Business Contracts
- Commercial Property
- Company Formations
- Debt Recovery
- Dispute Resolution
- Employment Law
- Insolvency
- Licensing
- Mergers, Sales & Acquisitions
- Property Development
- Sports Law
“I would like to place on record our appreciation of the excellent and efficient service provided by you and your company in playing a pivotal role in managing the legal side of the transaction. We would feel very happy to recommend you to any future client moving from the Lincoln area.”
Feedback about Hilary Selby, Conveyancing Assistant, Lincoln
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Our corporate team has many years experience dealing with the sale and purchase of businesses of all types and sizes.
- Sole Traders - newsagents, care homes, pubs and restaurants
- Small and medium sized businesses - professional firms of estate agents and surveyors
- Large concerns - engineering, waste management and car dealerships
The need for specialist input varies from transaction to transaction, but the team has the ability to call on specialist lawyers from within the firm to cover issues such as property and employment matters. This breadth of knowledge ensures clients receive up-to-date commercial advice as soon as required during the transaction.
An acquisition or a disposal can be a daunting prospect no matter what the size. The team prides itself on being on hand to guide clients through the process with as little strain as possible. Our aim is to work with you from an early stage with a view to getting under the skin of the business to understand how it works. This helps us advise you on the strategy for taking the matter forward effectively and commercially.
We will help sellers exit a business and maximise the value in their disposal. Likewise, we can help buyers in assessing the risks presented by a transaction and protect them from potential pitfalls.
We can help...
How can I help you?
Pardeep Dhinsa
Assistant Solicitor - Commercial Property
T: 01472 316638
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FAQs
How long does it usually take?
As with any matter, this depends on a number of factors, some of which will be outside of your control. Preparation for the sale can begin months before the actual transaction takes place. You can start to gather together information about the business for the purchaser to inspect (see comments regarding “What is due diligence”).
What are heads of terms?
These are usually non binding documents which set out the key points which have been agreed about the sale. They will include details of the price, the business assets to be sold, the proposed timetable and any specific conditions to which the sale is subject.
Can I pull out after signing heads of terms?
Heads of terms generally set out the headline terms of the transaction and do not commit either seller or purchaser to the deal. Either party will usually be able to withdraw after signing heads of terms.
What happens to my employees?
In a business sale (as opposed to a share sale) the rights of employees are protected when the business is sold as a going concern. This is by virtue of the Transfer of Undertakings (Protection of Employment) Regulations 1981 (“TUPE”). Under TUPE, all employment rights of employees are automatically transferred to the purchaser, so that continuity of employment is preserved.