2020 annual review
2020 annual review
FRP team leads on successful MBO for Bateman Bateman Groundworks is a leading provider of groundworks and civil engineering services across Norfolk and East Anglia, with more than 200 employees. The company, which has experienced recent year-on-year growth, appointed FRP’s Corporate Finance team to design and advise on a management buyout (MBO) structure that would promote the continuing growth of the business while enabling the founding shareholder to make a partial exit.
Team secures strategic sale in highly competitive process Woodward Veterinary Practice, a single-site small animal practice in Leicestershire, employs around 35 staff offering a range of comprehensive veterinary services. Our Corporate Finance team was instructed by the shareholders to act as lead advisers on a potential retirement sale that would allow the shareholders to exit the business.
The team dealt with every aspect from start to finish, providing superb service with attention to detail. Richard Bateman Founding Shareholder, Bateman Groundworks
Our highly skilled team assessed the range of options with the board before securing an attractive cash deal. Dave Howes Corporate Finance
Outcome
Outcome
The team assessed the range of options with the board before drafting a comprehensive information memorandum that highlighted the numerous growth and synergy opportunities for the right strategic buyers. We led the transaction and secured five offers, before selecting the preferred bidder. Woodward Veterinary Practice was bought by The Linnaeus Group, one of the UK’s market leaders, in an attractive cash deal that surpassed the shareholders’ expectations.
Our team provided extensive tax and strategic planning, including full financial modelling to ensure the deal was appropriately funded, and advised on the commercial, banking and tax aspects of the legal documentation. They successfully delivered an efficient and effective MBO structure, which provided a partial exit for the shareholder and a succession plan for the business.
Selling a business
Selling a business
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