Tees advises on business acquisition

In 2012 we were instructed to act on behalf of the Society in connection with their purchase of the business and assets of a business consisting of a Petrol Filling station, food convenience store, three bedroom house and commercial property.

Problems faced

The acquisition was the largest acquisition that the Society had embarked upon in the last twenty years and would be the sole petrol filling station in their portfolio at this time. There was a vast amount of due diligence on both property and business aspects which was made even more challenging due to the fact that taking on a petrol filling station would be a relatively new venture for the Society.

Tees solution

Due to the size and complexity of the transaction we decided to break the matter into three clearly definable areas: commercial, property and employment. Kieran Lowe dealt with the commercial aspects, Grahame Yeldham dealt with the property aspects and Jonathan Insley dealt with the employment aspects. Each individual liaised direct with the client with Kieran Lowe co-ordinating the transaction as a whole.

Outcome

By breaking the transaction into three distinct areas we were able to call on the specific expertise of the individuals. This meant that the Society was provided with in depth advice and support on all aspects of the transaction. The delegation between the three areas also allowed us to reduce the transaction into manageable workloads which meant that we could progress much faster than if the matter was being dealt with by one person.

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