36 corporate finance
Launch of new corporate finance service for smaller accountancy practices
November saw the launch of a new service aimed at smaller accountancy practices and their clients, writes Adam Stronach, Harwood Hutton corporate & forensic services director
There are a large number of UK corporate finance transactions of up to £25 million each year and it is in this context that Goldsmiths Corporate Finance has been launched. A November 2, 2011 article in Accountancy Age set out more details on the service which is the idea of Ron Goldsmith who has helped many practitioners nationwide over the years with mergers and acquisitions of accountancy firms. Seven accountancy and professional service firms covering different regions in England & Wales have teamed up with Ron Goldsmith to provide corporate finance services. Harwood Hutton is the nominated firm for the Thames Valley.
The aim is to ensure smaller practitioners have the comfort of working with a firm offering specialist corporate finance services without threatening the trusted relationship between the small practitioners and their clients. Many small firms offering day-to-day audit, accounting and tax compliance advice do not also offer the corporate finance advisory and related transaction tax services that need to be deployed when a long-standing client either says it is interested in buying another business or has itself been approached about selling out. The Goldsmiths Corporate Finance offering provides national coverage from firms who understand the requirements of advising owner-managed businesses and smaller managed entities. The smaller practitioner will have the option of either staying involved in the transaction or handing it all over to the corporate finance specialist, and the practitioner will be paid a commission for introducing the assignment to Goldsmiths Corporate Finance.
The services offered by Goldsmiths Corporate Finance specialists include the following:
• Mergers & acquisitions • Disposals • Management buyouts and buyins
www.businessmag.co.uk
• Development capital • Finance raising and private equity • Business valuations • Transactional tax advice • Due diligence
Harwood Hutton is a Beaconsfield- based firm of chartered accountants and tax advisers, whose origins go back to 1957. Each year it provides help and assistance to clients that need corporate finance services, including purchasers looking to acquire businesses, vendors looking to sell, start-ups seeking capital and established businesses wanting to restructure their operations. The work Harwood Hutton undertakes includes taking on sale mandates and running auctions for businesses and undertaking financial due diligence work, whether this is for the purchaser or the vendor. The firm also advises on share options and restructurings utilising statutory tax reliefs, helps clients build business plans and is well connected with banks, angels and mid-market private equity businesses. Harwood Hutton also undertakes specialist tax advisory work to help structure transactions for tax efficiency.
The firm often finds that one of the first questions posed, by buyers or sellers is, “What is the business worth?”, and its corporate finance team are experts at assisting clients to assess the value of unquoted shares and equity in a business.
Its specialists are experienced in providing a variety of corporate finance work, from acting as lead advisers on multi-million pound sale and purchase deals, through to giving oral evidence at the High Court on business valuation. Recent deals have included acting for a US quoted business on an acquisition in the UK, advising a leading supplier of renewable energy solutions in raising equity capital from a FTSE 250 company, identifying an angel investor for a green tech scientific development company, as well as other assignments involving sales of companies, valuations, mergers,
financial due diligence, raising debt finance for expanding businesses and restructuring operations for commercial reasons.
The alternatives for smaller practitioners who need help with corporate finance work are handing such assignments to firms that may range from business brokerages to specialist corporate finance boutiques up to, in some cases, Big Four firms. Goldsmiths Corporate Finance provides another alternative now for smaller practitioners keen to retain an interest in their clients’ business affairs whilst ensuring quality of service is maintained.
If you are interested in learning more about Goldsmiths Corporate Finance please contact the central team on 01628 627637.
Details: Adam Stronach adamstronach@
harwoodhutton.co.uk
01494-739500
www.harwoodhutton.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER 11/JANUARY 12
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