Take part in our new Family Business Survey and have your say! Click here
Our Corporate Finance team are celebrating a duo of deals.
The team acted as lead advisors on the acquisition of a holiday park located in a picturesque area of the north west of England. The park was acquired by a family with other successful business interests, who were looking to diversify. Armstrong Watson also acts for the vendors, another successful family business, who have provided luxury self catering holiday homes, touring and motor home pitches throughout the north west of England for over 40 years. The family own a number of holiday parks, that also offer caravans for sale from all leading manufacturers, and the divestment of this park met with their primary objective which was to release capital so they can expand into larger holiday parks.
Richard Rankin, Corporate Finance Partner comments, “It is great to see the holiday park being passed from one successful family business to another. There were a few hurdles along the way but by working closely with the clients, we understand their needs and goals and were able to support both families, never losing sight of their original reasons for coming together. I am looking forward to working with and seeing both businesses continuing to achieve their growth aspirations.”
HSBC provided funding to the purchasers. Legal advisors for the purchaser was Napthens Solicitors, and for the vendors, Hill Dickinson.
The team’s second deal came in the shape of The Atlas Group selling its Vodafone business to Connect Telecoms Holdings Ltd. The award-winning Atlas Group manages radio, mobile voice & data, fixed line & hosted communications, ICT solutions together with business interiors and space design; helping organisations minimise costs and maximise the potential of their IT, communications and business environment with a single, coherent supplier.
Armstrong Watson’s Corporate Finance team acted as advisers for Atlas on the sale and Baines Wilson provided legal advice on the transaction. Armstrong Watson also advised on the initial purchase of the business back in March 2008. Since then, the Atlas management team have significantly grown the Vodafone business which was sold as part of their long term strategic plans. The Atlas group has ambitious plans for the future and Armstrong Watson continues to work with the management team to achieve these.
Both deals are excellent examples of how the team continues to work alongside businesses, helping their clients with their long-term strategies and not just a single transaction.
Are you thinking of selling or buying a business? Get expert help and achieve your goalsContact Richard to find out more
If you like this article and would like our FREE updates sent straight to your inbox then subscribe to our monthly newsletterSubscribe
All content © 2015 Armstrong Watson. All Rights Reserved. Website by Simon Pighills.
Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW