Mitchell Charlesworth is launching a new “Accelerated” service delivering high-speed support for firms who want to sell quickly to meet a business goal or due to cash flow, profit and balance sheet pressure.
Accelerated brings three of Mitchell Charlesworth’s key service teams together – Corporate Finance, Corporate Recovery & Insolvency and Tax Advisory to ensure clients have all the advice they need from one advisor. Mitchell Charlesworth has offices in Manchester, Liverpool, Warrington, Widnes and Chester.
Mitchell Charlesworth Liverpool based partner Brian McCann, who leads the MC Vanguard Corporate Finance division, said the goal is to sell assets or businesses as quickly as possible to secure the maximum value or help to secure much needed investment.
He said the speed of the service means more options are available to companies when selling the business and the maximum value is created whether selling assets, part or all of the business.
“Our main objective in any business sale is secure the maximum possible proceeds for the shareholders,” said Mr McCann. “Managing this process properly takes several months.
“Clients can use the Accelerated service during various urgent circumstances, such as the loss of a key member of the management team, the loss of a major customer, a market change leading to declining sales in a product or service, change in working capital cycles, reduction in margins, or unforeseen costs.
“Any of these circumstances can put sudden pressure on a successful business and cause rapid loss of value if steps are not taken quickly to address the problem or realise value.
“Support will be given within a company’s current constraints like time, cash, or stakeholder pressure, to identify options for the business to assist shareholders and for directors to take the best informed decisions for the future. In some cases there will be scope to develop and implement a plan to rebuild business value while for others the best option will an accelerated sale to preserve as much of the existing value as possible.
“Most importantly, Mitchell Charlesworth’s specialist Corporate Finance team can work with solvent businesses to advise on the current value of the business and the scope to build business value and help secure new funding or refinance if appropriate.
“The Corporate Finance team can also identify and approach potential buyers if appropriate, assist with negotiations on price and other terms of sale and complete a business or asset sale.”
Manchester based Mitchell Charlesworth Head of Corporate Restructuring Jeremy Oddie said: “Our part in the accelerated service is to help review a business’s operations, identify problem areas and advise on the best approach to avoid insolvency.
“Our Corporate Restructuring advisors will work with the management team if the business is in a distressed situation and explore the options to deliver the best value to all stakeholders before further losses occur or an insolvency situation is likely,” said Mr Oddie. “Where a business asset or business can be sold, the Corporate Finance advisors are instructed to source an interested party as quickly as possible.
“They will devise a strategy with the directors to manage immediate threats to the company from creditors and create a strategy to facilitate ongoing trade without infringing UK insolvency law requirements. This will allow a controlled means of putting up the business for sale (in conjunction with Corporate Finance advisors), and look at all the options available to ensure maximum value before entering into a controlled exit.
“The Mitchell Charlesworth Tax Advisory team will work with clients to ensure that the tax implications of a proposed sale are clear, possibilities to minimise the tax consequences are identified, and all reporting requirements and/or HMRC clearances are dealt with as quickly as possible.
“There are always significant tax implications on the disposal of a business or liquidation of a limited company. Income tax, Capital Gains Tax, Corporation Tax and Stamp Duty Land Tax can all potentially come into play depending on the structure of the sale and/or termination of the business. Furthermore, following the sale or termination of the business the shareholders/business owners should review their personal Income tax and Inheritance tax positions”.
Mr McCann added: “Many good businesses find themselves under serious pressure for reasons beyond their control. The aim of the Accelerated service is to preserve as much of the value in the business as possible by helping the client to move quickly. We understand these times can be very difficult for companies and our aim is to make sure such occasions are handled as smoothly and rapidly as possible.
“Simultaneously we want to ensure that all the stakeholders get the best deal possible, which we can do through the attention of our professional expert staff and help business owners sell their business quickly, in a faster than usual, or ‘Accelerated’ way.”
Full details of the new ‘Accelerated’ service are now available on Mitchell Charlesworth website www.mitchellcharlesworth.co.uk. For more information contact 0151 423 7500 or email enquiries@mitchellcharlesworth.co.uk
Notes to the Editors
Accelerated webpages
Click here to review the MCV site
Click here to review the MC site
Mitchell Charlesworth
Mitchell Charlesworth was formed more than 130 years ago and has grown into one of the largest independent practices in the North West. Operating with over 150 staff across five offices in Manchester, Liverpool, Widnes, Warrington and Chester, the firm of Chartered Accountants and Business Advisors provides a comprehensive range of services in the areas of financial and taxation advice.
Mitchell Charlesworth excels at working closely with clients to ensure they maximise their full potential by using their experienced partners and staff, as well as their extensive contact base in the financial markets, to achieve the best results. Whether looking at business improvements, extending trade alternatives or ensuring the best deal is obtained in a business acquisition or disposal; the services are led by partners with years of experience supported by a qualified and enthusiastic staffing team delivering:
- Statutory audit
- Accountancy
- Corporate and personal taxation
- Company acquisitions and disposals
- Corporate recovery and insolvency
- Management buyouts
- Due diligence
- VAT
- Tax planning
- Pensions and investment advice
- Payroll
Mitchell Charlesworth is the trading name of Mitchell Charlesworth LLP, registered in England and Wales number OC391811. A list of members is available for inspection at our offices.