Cumbrian Law firm in sale to national house of brands consolidator
Case study from Armstrong Watson
Thomson Hayton Winkley, and its sister brand the Rural Law Practice, is one of the largest and best known law firms in the Lake District and was established over 150 years ago.
Background
The firm, led by Simon Theobald and John Cooke, has specialities in hospitality and tourism whilst also offering private client, family and property law advice. The directors wanted to secure a deal with a firm that shared similar cultural values and support them to protect and grow their already thriving business.
How we helped
Thomson Hayton Winkley were supported by Legal Sector Partner Andy Poole and Corporate Finance Executive Michael Stewart, along with the rest of the Armstrong Watson corporate finance team, in securing an acquisition of the business by The MAPD group, a growing business focused on building a group of successful law firms across the country and aiming to make a positive difference. Based on our specialist knowledge of the market, we suggested a number of potentially suitable firms before making introductions and working with our client to broker an EBITDA multiple-based deal with MAPD. Andy and Michael assisted with the due diligence process and then advised on the commercial aspects of the share purchase agreement and project-managed the deal to completion.
Results
Our key input included advice on the debt free, cash free and normalised working capital aspects of the transaction.
Tax advice regarding the structure and the deal was provided by Armstrong Watson’s tax team.
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