From employees to entrepreneurs: Strategic acquisition and legal insight

Our clients, Alexia and Lucy, former employees of Molecare Pet Vets, embarked on an ambitious journey to acquire the practice, and Rubric Law was privileged to guide them through the asset purchase.

The task

Alexia and Lucy created a new company to facilitate the purchase, which included digital assets such as domain traffic and social media accounts, as well as being granted a new lease for the property. All-in-all it was a transaction that required extensive legal framework.

The involvement of other parties added more steps and considerations to the case, especially with the proposed changes and conditions. Our team’s ability to negotiate effectively was key to making sure these changes suggested by the seller remained favourable for our clients.

Strategic legal support

Our multifaceted strategy was tailored to address each challenge during this business acquisition. Our services included:

  • Analysis of the due diligence and producing a report
  • Reviewing and negotiating the asset purchase agreement
  • Drafting and negotiating the disclosure letter
  • Property due diligence and client reporting
  • Property lease
  • Review and negotiation of complex lease clauses required by a third party
  • Restrictive covenants; preventing the sellers from starting a competing business within a specified radius and time frame

The result

Our commitment to clear and regular communication was illustrated by almost daily phone calls with our clients, coaching them through each stage of the process, and ensuring they were informed and confident in their decisions. Our team also arranged calls with the sellers and their legal representatives, to maintain momentum throughout the deal.

Through negotiation and strategic legal counsel, Rubric Law supported a successful acquisition.

We wish Alexia and Lucy all the best with their new venture at Whiskers Veterinary Practice.

Alexia Mills commented:

โ€œRubric were not only very personable and reassuring but also always there whenever we needed them. It was the little things that stood out to me โ€“ like how they made the complex legal documents feel less intimidating. They took the time to explain everything in a way that I could easily understand, highlighting what was important for me to know and what actions I needed to take.

The service we received was super. We are so grateful for their help and would wholeheartedly recommend them.โ€

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