Knowledge Hub | Cases and deals

18 November 2021

B P Collins advised an accountancy practice that was a part of a larger group in becoming independent.

B P Collins acted for an accountancy practice which was part of a group, which wanted to purchase the practice and run it independently.

The target practice was a party to a complicated group structure, which involved complex inter-group arrangements. The buyer’s key priority was for B P Collins to identify the liabilities of the target and draft the necessary releases and indemnities as part of the transaction.

This was not a straightforward share purchase because of the group structure and the fact that the purchase price was being paid by way of share exchanges. Additional steps were required to remove the target from the group, including a dividend in specie (involving assets instead of cash) and share buyback.

Once the deal completed, the buyer then instructed us to prepare an LLP agreement for the practice going forward.

To speak to a member of our team about any deal or case we could assist you with, email enquiries@bpcollins.co.uk or call 01753889995.

Beth Miel

Beth Miel

Tel: 01753 889995 | 07894 608254

David Smellie

David Smellie

Tel: 01753 279034 | 07922 653954

Alex Zachary

Alex Zachary

Tel: 01753 279022 | 07841 672810

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