Exit & Succession Planning
It’s time to step away from your company, and you need to plan your next steps. Whether you have an exit strategy in place or you’re still deciding which path is best for you, our corporate solicitors can provide you with advice, consultation and legal support at every step of the journey.
Selling your business takes time, and starting well will make the process easier and may make your outcome more profitable. From due diligence works and evaluation of potential buyers, through to employee management and moving on to new pastures, legal support can protect you from complications and roadblocks.
Succession Risks
The succession process is one with many areas to consider, and one that can carry a number of implications for both you and the company you are leaving behind. These include cultural implications such as your business’ brand and reputation, company moral and even employee retention. The latter can impact your financial considerations, with valuation of the business dependent on your assets, debts, cash flow, client base, liabilities, and the solidity of your team. Finally, there is the legal impact, with tax implications, contractual concerns and compliance factors to navigate.
Speaking with legal experts ensures that all areas you need to address are addressed, and that these are looked at sooner rather than later, when you have longer to respond, and they are least likely to negatively impact your sale.
Get a fair deal and a smooth exit by speaking with our succession team today.
Our Business Succession Services
At BHW, our corporate solicitors are top ranked for the East Midlands by both Legal 500 and Chambers & Partners, as is department Managing Partner & Director Ed Nurse. Experienced in all forms of succession planning, business disposal and sales, our business succession team are ready to advise and assist as you navigate your exit strategy.
Discover our succession service areas below or learn more by contacting us online or on 0116 289 7000.
Mergers, Acquisitions & Sales
Whether you are looking to dispose of all or part of your company, our M&A solicitors are here to help. Selling your carefully built and nurtured business can be a complex process and navigating either a merger or an as-is acquisition can bring its own challenges.
In either case, it is important that the deal reflects the work and investment you have put into your company and supports your personal exit goals.
Instruct legal support today for your merger, acquisition or sale.
Management Buyouts
Instead of selling to a third party, you may be looking to sell your business to your management team. Whether you are looking to retire or simply disposing of certain parts of your business portfolio, selling a company to its corporate team appeals for many reasons, from greater control over the process for business owners, to the security of knowing your hard work will remain in seasoned and familiar hands.
Get advice on the MBO process or get support in progressing your MBO from our succession team.
Employee Ownership Trusts
Another way to exit a business whilst keeping it in the hands of your team is to sell to an Employee Ownership Trust. Setting up an EOT allows every member of your team to benefit directly from the company’s success. An EOT, managed by appointed Trustees, will allow the gradual purchase of the business, as well as paying out to the employees.
Reward your team for their dedication, keep your legacy in safe hands, and receive a steady payment stream as you exit – learn more from our EOT experts.
Restructuring & Demergers
If you are looking to split and sell part of your business, it is best to seek legal support early into the restructure process. Both business restructuring and demergers take time and require careful planning. It is important to ensure you have met your financial obligations, as well as your legal obligations to the resulting teams.
At BWH Solicitors, we can advise you on your path forwards and provide support through your restructure planning. If you are considering a company restructure or demerger, speak with one of our corporate succession solicitors now.
Business Insolvency
If your company is facing financial difficulties, or you are planning a sale and have debts to resolve, our corporate insolvency team can help you. Speak with our legal corporate experts about your situation and receive strategic backing on any administration or liquidation processes.
Business Sales: Employee Support
During any business sale, there are many factors to consider, such as the transfer of the company’s current employees. Considering employee impact from any change in ownership is essential, both for a smooth transition that leaves the business in a strong operational condition, and to make sure you have met your legal responsibilities.
Our employment law solicitors will support the wider corporate solicitor team to provide expert advice on your obligations, including the risks and factors to consider, redundancy practices, and the best strategies for navigating the employment law aspects of a business sale.
Business Sales: Commercial Premises
If your business occupies premises, then you will need to navigate what will happen to those premises following any business sale. This work ensures that all property aspects tied to the business, whether owned or leased, are carefully considered.
In cases where the business rents its premises, our specialist commercial property solicitors will review tenancy agreements and ensure smooth transitions or renegotiations with landlords. If the business owns the property, the commercial property team will work with the corporate solicitors to handle the transfer of ownership, mortgages, and any title issues. In both scenarios, our corporate support team will give careful attention to ensure that the premises remain operational and meet the strategic goals of the business transaction.
