Taking a BACK Seat with the help of Backhouse Jones’ Little BACK Book
03 October 2019
Just another completion?
The owners of A.W. Baxter Produce Limited recently sold their business to Harrison Holdings Ltd. This was more than a mere transaction. It was a sale from the heart driven by the owners, Mark and Diane, taking the decision to retire but wishing also to secure a future for the business’s employees.
Having dedicated blood, sweat, tears, time and virtually everything else to Baxter, it’s fair to say that they deserve some time away from the landscape of corporate ownership. However, they were worried about the future of their workers and sought to find a way in which they could take a backseat without individuals losing their jobs and without introducing the threat of redundancies. To do this, they enlisted the Backhouse Jones Corporate Team and sought to use Backhouse Jones’ Little BACK Book service.
What is Little BACK Book?
Little Back Book is a network held by Backhouse Jones of prospective buyers and sellers, all either looking for their next expansion or an investor in their company. A prospective client approaches the Corporate Team to be entered into the network, entering into a confidential arrangement, and the solicitors do the rest. Having spent 200 years providing legal services to the transport sector, the law firm has amassed a great deal of connections, through which they can identify compatible pairings between business buyers and sellers. Baxter joined the network and before long, negotiations had started with Harrison Holdings Ltd.
What did everyone think?
Baxter’s owner and director, Mark Baxter, celebrated the service provided both in the introductions and the legal work carried out by Backhouse Jones, saying ‘that the effort and initiative displayed by Backhouse Jones Corporate Team made what might have been a complicated and stressful transaction much smoother.’
In respect of the Little Back Book service, Diane Baxter commented that ‘the network of prospective buyers helped us to secure a future for the company and its employees. If a buyer hadn’t been found, then jobs would have potentially been in jeopardy.’
Overseeing the transaction, Head of Department, Brett Cooper, sought to remain hands-on throughout, stating that ‘the key purpose of Little Back Book is to give added value. Not only can Backhouse Jones do corporate legal work for their clients, but we strive to make connections within the industry, increasing the chances of clients seeing a transaction come to fruition.’
Hopefully, with the worries and stress of running a company lifted from their shoulders, Mark and Diane can take some time away and enjoy amenities outside of transport, safe in the knowledge that the business and employees who gave them so much are safe in the hands of a competent and established operator.
How do I find out more?
Why not take a look for yourself? See www.littlebackbook.co.uk or call Brett Cooper on 01254 828300.
