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PROFESSIONAL

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Our business is to sell or merge your accountancy practice or help you acquire new fees - We also provide practice valuations, contract reviews, arbitration and expert witness reports


STRUCTURING DEALS DURING COVID-19

Whilst trying to mitigate the effect of the current virus situation we are finding that it is still very much possible to make good progress with regard to selling or buying a practice without compromising health concerns.

Deals are being completed as planned. At the initial stages of a deal it is already very common for the buyer and seller to make contact by phone, email etc. Initial information can pass very easily. This early stage contact is supplemented by further conversations and the buyer can be in the position of making an outline offer for a practice without much (if any) physical contact. Any necessary meeting will obviously take place with all sides taking all of the recommended hygiene and social distancing precautions. Couple this approach with IT video solutions such as Skype, Zoom, Webex, Microsoft Teams or WhatsApp and two parties can make effective progress.

We will be on hand at every step through that process to try and make sure that both sides feel well advised, comfortable and confident in the deal that is being done. Over the last 30 or so years we have built up a number of “deal structure tools”. From this toolbox we feel confident that we can provide deal solutions to address the specific circumstances in any particular practice and the individual needs of both the buyer and seller. If both sides wish it, we are more than capable of getting these deals to complete speedily.

As we approach the completion of a deal it is becoming apparent that we are all adapting to a new "norm". Cloud systems and communications technology are proving invaluable. Clients are becoming used to being contacted remotely (by telephone and email etc) and merging two firms of accountants is, in some ways, becoming more systematic. Clients need a good accounting and advice service more than ever and good acquirers are showing great flexibility in providing that service efficiently and effectively.