The HC corporate team has advised the shareholders of a north-east based financial advisory firm on the £25.7 million sale of the entire issued share capital of their firm to a private equity-backed consolidator.
The Client
A group of shareholders in a well-established financial advisory firm based in the North East of England, seeking to realise value through a strategic sale to a private equity-backed consolidator.
The Challenge
The £25.7 million transaction involved the sale of the entire issued share capital of the business. The deal was complex, featuring a multi-layered equity structure, pre-sale asset consolidation, and a bespoke consideration mechanism. The clients required end-to-end legal support to navigate both the commercial and regulatory aspects of the transaction, while securing favourable terms for their future involvement in the buyer’s group.
Our Approach
The Herrington Carmichael Corporate Team provided comprehensive legal and strategic support throughout the transaction. Our work included:
- Advising on the equity reinvestment structure, including negotiating improved shareholder rights and protections within the buyer’s group
- Managing the pre-sale acquisition and consolidation of several independent client banks held by self-employed advisers
- Structuring a bespoke consideration mechanism, incorporating both cash and equity elements, and aligning it with EBITDA performance and pre-sale asset transfers
- Providing regulatory guidance to ensure compliance throughout the transaction process
The Outcome
The transaction was completed successfully, delivering a strong financial outcome for the shareholders and positioning them for continued involvement in the business’s next phase of growth. The clients praised the team for their clarity, professionalism, and ability to manage a complex process from start to finish.
What Our Team Said
Alex Canham, Corporate Partner, commented:
“We were delighted to support our clients through this significant milestone. Our focus was on securing terms that reflected their long-term goals, and we wish them every success in the next chapter.”
The Team
The project was led by Alex Canham, Corporate Partner, with support from Harry Winkley, Solicitor.
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