London Bridge Optical is a successful importer and exporter of spectacle frames. The wish of the founding shareholder to reduce his involvement in the business resulted in a management buy-out and our corporate specialists were asked to advise commercial manager Philip Gray on the purchase of the company. The deal involved the incorporation of a new company, Visual Trading Limited, specifically for the purpose of the acquisition.
We advised on all aspects of the acquisition, liaising closely with our client's accountants and the target company's auditors in connection with the 'Financial Assistance' issues raised by the bank funding and loan facilities required for the transaction. The deal also required employment and corporate tax expertise, while our real estate team has been instructed to handle matters relating to the company's proposed move to new premises.