CORPORATE FINANCE
Sale Success for Ron Darch & Sons Co Ltd
Having advised on the sale of Hobbs Bros Ltd in 2017, we were approached by the Darch family to manage, on their behalf, the sale of the business from beginning to end.
to enable you to continue to do your job without extra worry or burden.
At Randall & Payne, we recognise that, particularly in the oil industry, it is difficult to dedicate enough time to your business sale, whilst also maintaining a hands-on operational role within your business. Our role is to manage the transaction on your behalf and in your best interests from beginning to end. Having read about our previous successes, the Darch family approached us to discuss the sale of the business due to their intention to retire. It was important to the family that the business was not commoditised and that the legacy of the business would continue under new ownership. Additionally, the family were concerned that the oil and coal elements of the business might be separated or that the coal element of the business may be too niche for distributors who trade only in liquid fuels. Acting on behalf of the shareholders of the company, we supported Andrew, Jamie, Nigel, Jeremy and Simon Darch throughout the transaction which, despite its complexities, fulfilled the
desired outcomes of the shareholders and allowed them exit the business safe in the knowledge that the business would be in the best of hands. Given that there were multiple shareholders of the company, Andrew and Jamie were appointed to work directly with us on behalf of them all. For several months, we met with Andrew and Jamie and worked with them both to gain a full understanding of how the business operates, including the employee and customer base as well as undertaking site visits. From this invested time, we were well positioned to produce a comprehensive Information Memorandum upon which multiple interested parties were able to make informed offers. Our role (and what we do best) is to manage the transaction from the initial sale preparation and identification of potential purchasers, to reviewing completion agreements, our objective is to keep the deal running smoothly, working collaboratively with all parties
At Randall & Payne, it is our objective to ensure that our clients’ success is at the heart of our business andwe are pleased that we have been able to assist the Darch family in achieving this result. Additionally, our knowledge and experience of the oil industry enables us to understand the sticky points and stumbling blocks inherent in these transactions. This enables us to address complex issues such as working capital requirements of a seasonal trade, the
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– Spring/Summer 2020
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