Business Sale and Exit Solicitors
Whether you’re considering exiting or selling a business due to retirement, to seek a new venture, or simply because it’s a profitable time to sell, it’s important to be aware of all that’s involved as early as possible.
Our Corporate and Commercial solicitors have years of experience in buying and selling businesses of different sizes across many industries, and know how to maximise the value of your business whilst minimising any risks during the selling process.
Alternatively, you may be in business with a partner where one of you has decided to leave, be that in amicable or potentially contentious circumstances. Our Corporate and Commercial lawyers can help advise you on the options and any legal and commercial issues that need to be considered.
How do I sell my business?
To sell your business, you need to consider the best structure for your sale. For example, if you operate your business through a limited company, are you selling the shares in the company itself or will the company be selling the underlying assets?
Each route has different legal and tax consequences which your solicitor and accountant can help guide you through.
You also need to prepare your business for sale by ensuring your books and records are up to date and accessible.
This includes making sure key relationships with customers and suppliers are documented, all assets and contracts sit in the right place, and clearing out any ‘skeletons in the closet’ that might be unattractive to a buyer.
You can save a lot of time and money in the long run by investing the effort in this preparation stage.
How we can help
Our Corporate and Commercial solicitors can advise you on the transaction as a seller of the business, including helping agree heads of terms, guiding you through the buyer’s due diligence and providing strategic input on relations with your buyer. We can also advise on the legal documents, including the warranties you will have to give and disclosures against those to minimise your ongoing risk.
Our expert team also play a proactive role in generally project managing the sale, helping to ensure the deal gets done.
We can also bring in expertise from other specialists in the firm, including our Employment team for matters relating to employees, and our Commercial Property team, should the exit involve the sale of a building or land, or dealing with leasehold premises.