Whitings, The Corporate Finance Network’s representative firm in Suffolk has advised a well-established lettings agent on its sale to a national group.
The Whitings Corporate Finance team were approached by their client when they decided to explore opportunities to sell their agency. The team, led by Corporate Finance Partner, Chris Kelly, started the process by sending a confidential one pager to prospective local and national buyers. They received a number of expressions of interest and decided to give exclusivity to a well known national group.
Whitings acted as lead advisers throughout the deal, advising on the structure and the Offer Terms. They also advised on the taxation aspects of the sale, carried out negotiations with the Purchasers and liaised with the Solicitors to ensure a smooth completion.
The sale was completed in September 2019 and has enabled the owner to retire and the business to be taken forward by a national group.