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acquired Great Harwood-based family holiday 


The deal added the Imperial Hotel in Eastbourne and the Abbey Lawn Hotel in Torquay to the Daish’s portfolio, along with a  range of pick-up locations in the North West.


Paul Harper said the deal was part of its strategic growth plans as it took a long-term view of the future of the UK coach travel sector post-pandemic.


He also explained that the acquired business was  it also has a very strong customer database and they are very similar to Daish customers.


 point of view, in getting into a new area without having to start from scratch.”


Paul said that the passion for the Robinsons brand among its workforce was another plus point as the deal progressed.


And he added: “We have a very successful business operation, we know what we do, how we repeat it and how we scale it up.”


sellers who had invested many years in building up their business.


From a buyer’s perspective, Tim said it was important to be clear about the purpose of any potential acquisition and what the purchaser was looking to achieve. He added: “The target may not necessarily be the best one.”


Looking at the dealmaking process he added: “There are lots of hoops to jump through, including due diligence. It is time consuming and it is very stressful.”


Tim said the role of an advisor was to take away some of the stress and to reassure clients.


He said: “You have to have empathy, to say you understand what they are going through but they should trust you - you have done this before.”


And he added it was important that business owners made their advisors aware of any potential issues as early as possible, so they  that will get the best result, it really will.”


THE PROFESSIONALS


Tim Mills, partner at accountancy and business advisory group Azets


Tim Mills believes a big part of any advisor’s role is getting to know its


clients and the background to their businesses.


He added that selling and buying were both stressful and time-consuming and he spoke of the emotional impact of disposing of a business, adding: “Never mind the pounds and pence, there are people involved.”


He said that it was particularly emotional for


Benjamin Dredge, managing partner at CG Professional


For owner- managers the sale of their business is a milestone event.


It is also a very personal experience.


That is why solicitor Benjamin Dredge says that “understanding them as a person is incredibly important.”


He explained: “You need to build trust between yourself and the client to understand what issues you may need to address further down the line. Getting to know them fundamentally is crucial right at the outset.”


Benjamin added: “It’s your job to try and prepare your client as much as possible. We try to prepare them as early as we can, taking them through the process.


“It is a tough process, made even tougher if you


Mark Gibbons, senior access to finance specialist at


Access 2 Finance


The key to a successful sales process is getting businesses


“investment ready” and in “the right shape” to take them to lenders and investors.


Mark Gibbons says that process includes  business plan.


He explained: “It is having that complete picture, so that when lenders and investors have a look at it, they have got a really good feel for the business.”


Mark added: “To make a transaction work you  There are so many funding options out there at the moment.”


Those options include equity funding, a process he believes is becoming better understood by businesses as they become 


He went on: “In the last 10 to 15 years there have been a lot more private equity options available, particularly in the North West.”


Looking ahead at the market, Mark said he believed that it was likely that there would be more acquisition opportunities available as owners of lifestyle businesses looked to exit in the wake of the pandemic.


are an owner-manager. They spend all their day managing their business, while dealing with what is a huge event.


“You sit down with your client, look them in the eye and ask if there is anything we need to deal with.


“If there is, often it is something that you can nip in the bud and you can solve the problem before it becomes one.”


Benjamin added: “Trust is absolutely key from the buyer’s perspective.”


cg


Premium Commercial Law Firm www.cgprofessional.co.uk


#wearecg LANCASHIREBUSINESSVIEW.CO.UK


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DOING THE DEAL


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