Business Succession

Business Succession

Whether you wish to reap the rewards of having built up a business and see the business continue to prosper in the future or just sell the business for the maximum price we can help you.

We offer considerable expertise and commercial experience to be able to identify credible options and can work with you to achieve the business succession or sale that is right for you. We are way more than just Hampshire business lawyers.

Our advice and practical help can take different forms, including:

  • Changing the corporate structure of the business to enable others to play a greater role on either an immediate or progressive basis
  • Advising on the balance of controls and incentives to manage any succession to ensure stability and continuity
  • Preparing the business for sale, where this is your chosen approach, and identifying potential buyers and steering the transaction to a successful conclusion
  • Dealing with any wider legal implications of changing ownership eg employment law TUPE, commercial property assets or liabilities
  • Advising on the personal tax implications of any business succession and on possible options in relation to inheritance planning

We offer realistic and practical guidance that can ensure you maximise the worth of your business  on disposal .

Our top tips on selling your business include:

1. Know your worth

A good valuation is a great starting point but don’t forget to focus on improving the multiple rather than just the profit.

2. It’s all about revenues, but don’t lose sight of profits

Buyers are looking for evidence of sustainable revenue growth going forward so don’t cut costs in a bid to boost earnings. It’s the robustness of revenue growth that helps command high multiples, not a short-term boost to profit.

3. Make sure your IP is in order

Buyers will keenly check that you do have the absolute IP rights to your products/services so if you are not 100 per cent certain, better check before starting any sales process.

4. Foster partnerships

Be astute at partnering with brand leaders, on development projects and research to reap the reflected glory of these relationships, which adds credibility, authority and can value on a sale.

5. Decide on your ideal buyer

Are you looking for a trade or financial buyer? They both look for different things.

6. Never appear to be already spending the money

If you appear to think the deal is done and you are already thinking of what luxury car home or holiday to buy, more often than not the buyer will see this and re-negotiate, down.

7. Sell at the best time to sell.

This is when profits are rising, your order book is healthy and the future looks good

8.How do you deal with potential purchasers?

On first meeting potential purchasers, never mention price. It is for them to come up with an offer – whoever speaks first loses the advantage.

We pride ourselves in being able to think creatively and imaginatively about the options available to you – whether in terms of overall approach or in the detail of negotiations. We are commercially astute business solicitors.

The best way to get a sense of whether our approach and skills are right for you and your business is to give our Senior Partner Gideon Cristofoli a call on  01420 82881 or email