The client
Riverside Vets, based in Scotland, embarked on their second attempt to sell their veterinary practice. After the first deal abruptly collapsed co-directors Graeme and Mandy were determined to achieve a successful sale.
The challenge
We were presented with the opportunity to revive the sale of Riverside Vets. With a sense of urgency, as time was limited to a six-week turnaround, Rubric swiftly made progress on the complex process. Despite encountering a few hurdles along the way, the majority of the transaction went smoothly. Regular and open communication channels were established, with a weekly update call; ensuring that all parties involved were constantly kept in the loop.
Collaboration with specialists
As the deal involved a Scottish property, Douglas Neil from Neil Solicitors efficiently handled the property aspect, ensuring comprehensive coverage for our clients. Additionally, John Sower from Moore Scarrott provided expert accounting support, contributing to the overall success of the transaction.
Comprehensive legal support
Rubric’s role covered a wide range of legal tasks to facilitate a seamless sale for Riverside Vets. The scope of our involvement included:
- Handling the due diligence process, providing guidance and explanations to Graeme and Mandy regarding the buyer’s enquiries.
- Reviewing and negotiating the Sale and Purchase Agreement (SPA) to safeguard the clients’ interests.
- Drafting and negotiating the disclosure letter, ensuring a fair and transparent exchange of information.
- Coordinating efforts with Douglas and John to ensure comprehensive coverage across all aspects of the deal.
- Negotiating service agreements on behalf of Graeme and Mandy to secure their future rights and obligations.
- Drafting and reviewing various ancillary documents pertinent to the seller and buyer.
- Facilitating the resolution of bank charges upon completion, providing a seamless transition for Riverside Vets.
Are you selling your business?
Call us: 0117 435 4350
Email us: info@rubric.law
Get in touch here.
To find out more about the solicitor’s role when it comes to selling a business click here.
