Family exit ownership of UK based Oil & Gas service company
Case Study19th Aug 2021
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Our Client
Successful UK based Oil & Gas service company with international presence. Owner-managed by two families all of whom work in the business with one family now looking to exit.
Our Approach
- Initial succession planning advice discussed with managing director two years prior to disposal process beginning
- Full marketing process undertaken with AAB identifying a selected number of potential acquirers
- AAB identified the eventual acquirer which has an existing business
- Specialist tax advice on indirect and international tax liabilities
- Project managed the transaction to successful completion with managing director and finance director leaving the company and other shareholders investing in the acquirer
- Identified and managed shareholder expectations in difficult trading conditions
The Outcome
- Successful negotiation of initial offer with all consideration being received at completion
- Facilitated a tax efficient investment opportunity for retaining shareholder to invest in the purchaser
- Enabled a tax efficient option for all shareholders to acquire the Company’s new premises to facilitate future income
- Managed shareholder expectations in difficult trading conditions
- Added value, sustainability and opportunity for growth of the combined group post completion
- Highlighted opportunities for the client to mitigate tax liabilities not previously aware of
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