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Buying or selling a business can be complex and time-consuming, so having the right advisers matters. Our Worcester corporate solicitors keep transactions moving, reduce risk and help you complete your deal efficiently.

We take a practical, commercially focused approach and coordinate with your other advisers (including tax and finance) so the legal process supports the wider deal.

We advise on a range of transaction structures, including asset sales, share sales, joint ventures and management buyouts (MBOs), tailoring the approach to your goals and the level of risk involved.

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An asset sale involves selling specific assets (and sometimes liabilities) from a business, rather than selling the company itself. It can be used for third-party sales or as part of a group restructure. The key document is usually an Asset Sale Agreement, supported by due diligence and any necessary ancillary documents.

Key issues to address include:

  • What assets are being sold and what assets are excluded?
  • Employee and TUPE issues
  • Warranties and limitations of liability
  • Apportionment of receipts pre and post-sale
  • Assignment of contracts
  • Consents
  • Price and how paid
  • Completion matters

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A share sale involves buying or selling the shares in a company, so ownership changes hands and the company (including its assets, contracts and liabilities) continues to trade as before. The main document is usually a Share Sale Agreement, alongside due diligence and any required pre-completion or post-completion documents.

Key issues to address include:

  • Title to and transfer of the shares?
  • Tax
  • Warranties and limitations of liability
  • Consents
  • Price and how paid
  • Completion matters

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A joint venture is a good way of two businesses pooling resources and skills to develop the business. It is however, like any relationship, an arrangement that needs careful thought and an agreed strategy to make it successful.

A joint venture may consist of a specially constructed company or contract with aim of joining forces to achieve growth. Joint ventures can often bring new ideas or products to market, or facilitate meeting an objective between two organisations.

Having informed discussions at an early stage in negotiation and ensuring that agreements are properly documented means that any issues can be resolved and the joint venture is likely to succeed. Common areas for discussion are:

  • What assets is each party bringing to the venture?
  • Is there a timetable for progression of the venture?
  • How many staff is each party committing to the joint venture?
  • How is the venture to be funded?
  • How are profits to be shared?
  • Is there an exit from the venture?

Our specialists will support you through the process with practical and commercial advice.

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A management buyout (MBO) is an increasingly common method of taking over a business. It is a particularly exciting opportunity and has far more certainty than alternative business purchase structures as the management team involved will understand the workings and processes of the business.

An MBO describes a transaction where the existing management team of a business (or some members of that team) acquire a stake in the business, typically with the help of delayed payment terms or private equity financing who also takes a stake in the business. The incumbent management remains in place post-acquisition.

They are usually completed as a share sale with support for the purchase price and a different approach may be taken to the due diligence process and warranty protection.

We have many years of experience in dealing with and structuring management buyouts. You will be provided with proactive commercial advice ensuring we get the outcome you want.

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A merger can be an effective way to grow, expand into new markets or strengthen a team. However, it works best when you understand what you’re combining. No two businesses are the same, and culture, systems, people and risk profile matter as much as the headline price.

We have many years’ experience advising business owners about how to successfully complete mergers. In fact, we are the product of a merger between two of Worcester's most respected firms, which gives us useful practical perspective when supporting clients. We can undertake the due diligence you need, prepare and comment upon the documentation needed and guide you through the sometimes-complex process that merging a business can become.

Joining forces with another business owner is one of the most important decisions that any business owner can make. Our experienced specialists can support you throughout the process.

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Trusted advisors for all of your company and commercial law needs

With a long-standing presence in Worcester and the West Midlands region, SME Solicitors brings a vast amount of local knowledge and legal expertise to your company and commercial law matters. Our efficiency, clear communication and comprehensive understanding of both the legal landscape and the Worcestershire area ensures your business transactions proceed smoothly and effectively. By entrusting us with your legal concerns, you're free to concentrate on what truly matters – the successful operation and growth of your business.

Our Worcester-based solicitors support organisations across Worcestershire and the West Midlands with clear, practical business law advice. We help you manage legal risk and make confident decisions, so you can focus on running and growing your business.

We advise at every stage of the business lifecycle, including company formation, director and shareholder matters, shareholder agreements, contracts, data protection, restructuring, compliance and governance. If you’re buying, selling or investing in a business, we can also guide you through due diligence and the legal steps needed to complete the transaction.

Our Company and Commercial Law specialist, Will Cadbury, provides straightforward guidance and responsive support for day-to-day queries and complex matters alike.

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