Thu, 18 Oct 2018 | BUSINESS SALE
Independent Vetcare (IVC), one of UK's largest veterinary practice groups has completed the acquisition of Derbyshire Veterinary Services.
Located in Ashbourne, Derbyshire Veterinary Services enlisted the help of Price Bailey's strategic corporate finance team to advise on the sale of its business. Although interest had been shown by a number of potential buyers and deals had been valued and appraised, Derbyshire Veterinary Services decided to look to the wider market.
Stephen Reed, the partner at Price Bailey who led the sale of the business, noted that tax planning was a key component in securing a successful deal when negotiating on behalf of Derbyshire Veterinary Services.
Reed said: "We were engaged as lead advisors to manage the sale process, which included liaising with solicitors, a pension fund, acquirers IVC, insurance brokers, and also HMRC, as a restructure was needed as part of the process.
"We worked closely with the clients to develop a sequence of events for various parts of the transaction. We were able to deliver expert independent advice, provide a dedicated member of our team with experience of working within a veterinary consolidator as a key point of contact to fully project manage the sales process resulting in a deal that was designed in a tax-efficient manner."
Derbyshire Veterinary Services sought legal advice from James Sage from FBC Manby Bowdler LLP solicitors in the acquisition deal.
Derbyshire Veterinary Services commented on the services of Price Bailey: "As well as the professional approach of Price Bailey ensuring that we achieved the best price, and the most tax efficient process, the individuals at Price Bailey were invaluable for their calm and thoughtful demeanour in all areas of discussion and negotiation."
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