How can advisers help me in the final stages of a deal and how do I choose which advisers are best for my needs?
Chris Blantern, company commercial solicitor of Last Cawthra Feather LLP, gives his thoughts on how advisers can help in the final stages of a deal and how to choose advisers which are best for your needs.
Selling or buying a business could be one of the most important decisions you ever make. For most business owners it is likely to be the first and only time that you sell a business and having invested considerable time and effort in building your business, its sale may hold the key to a secure and comfortable future.
If you are a potential purchaser of a business it is likely you have spent a considerable amount of time and effort analysing if the business will be a strategic fit with your existing business and whether it will help your existing business go from strength to strength.
You will obviously have done your research in respect of which firm you instruct and they are likely to have impeccable credentials, an excellent reputation and a track record of advising on the sale or acquisition of similar businesses.
However it is just as important that you warm to the individuals you will be working closely with as you need a lawyer you can develop a rapport with and someone who can provide a personable and user-friendly service.
Your lawyer should have an appreciation and understanding of your objectives, as no matter how well planned issues often arise, usually in the final stages of a transaction. It is imperative you are confident they can see through these issues to help you reach a suitable compromise in order to get the deal done and ensure you achieve your commercial objectives.
In summary you should: -
• Research your proposed legal adviser. Do they come recommended?
• Consider whether you will be able to develop a rapport with the lawyer and work together.
• Be comfortable that your proposed lawyer understands your commercial objectives and can see “the bigger picture”
• Get a commitment as to the extent of the fees involved.
Chris Blantern is an Associate in the Corporate Department at LCF. Chris has acted for public and private companies, advising on a wide range of transactions including mergers and acquisitions, flotations, private equity transactions, joint ventures, shareholder and partnership agreements, refinancing and reorganisations as well as providing general corporate advice”.
Last Cawthra Feather LLP (LCF) a leading and an award winning law firm. The firm has offices throughout Yorkshire. It now has 12 partners and 115 employees. Visit www.lcf.co.uk for more information or call 01274 848800.
