Purchase of Business
Our Transaction Tax team and EQ Leisure team acted for a client in their acquisition of a holiday park. The seller owned its land separate from its trade and this required a business purchase in two parts, simultaneously. We also had to ensure that the new business was then incorporated into the client’s existing business model. Working together with our EQ Corporate Finance team, ensured that the transaction was concluded to the client’s expectations and allowed the new park to seamlessly fit into the existing structure.
How we helped our client
The seller owned their land personally but held the trade in a separate limited company, and therefore two deals had to be structured to allow the transaction to conclude. Initially our client tried to source borrowing in order to finalise the purchase and EQ prepared a briefing paper for the business bankers to explain the transaction and to set out the business case.
Funding secured, EQ introduced local solicitors to the deal to assist in the structuring of the two deals. Through each step in the transaction, EQ ensured that the deal was delivered on schedule and that we persevered to ensure all problems were taken care of. Our ‘can do’, pragmatic approach allowed our client to secure the deal and they are now preparing for the season ahead, confident in the business they have acquired.
For more information or to discuss further, please contact our Transaction Tax team.
For further assistance with your leisure queries, please contact our dedicated EQ Leisure team.