Partner Article

Accountant advises northwest estate agents on PLC sale

Press Release

Accountant advises North West estate agents on sale to PLC

A Cheshire accountant played a key role in the sale of a leading North West estate agents to PLC Countrywide.

Phillip Bates & Co worked closely with Clive Watkin Partnership to put in place the deal which saw the UK’s largest estate agent and property services group take control of the 23-year old estate agents.

Clive Watkin Partnership grew from a single office in Heswall in 1992 to nine residential sales offices, seven lettings and management offices and a land and new homes department covering Wirral, Liverpool and Sefton. The firm employs more than 90 people.

Phil Bates, Principal of Neston-based Phillip Bates & Co, advised the firm on the sale, along with Sue Russell, a Partner with law firm Hill Dickinson who provided legal advice.

Phil, who has acted for Clive Watkin Partnership for over 15 years, said: “Selling a business can be a stressful and demanding time, not least when a company is being acquired by a PLC.

“We worked closely with the firm, guiding them through the preparation for sale, all negotiations and ensuring the deal worked for all of the partners. We also provided the specialist tax planning advice that is essential in any transaction.

“Perhaps the biggest single achievement was the speed with which the contractual side of the deal was completed – this took only a matter of weeks once the sale was agreed in principle.”

Ian Mellor, of Clive Watkin Partnership who led the sale on behalf of the firm, said: “Until earlier this year, we had no plans to sell the business but after we were approached we recognised that this was the logical next step for the firm.

“The speed and efficiency with which the sale was completed is a tribute to the skill and professionalism of our chosen advisers, Phillip Bates & Co and Hill Dickinson.”

NOTES TO EDITORS

· For more information, please contact Nick Mason at Mason Media on 0151 239 5052 or 07903 237008 or email: nick@masonmedia.co.uk

· www.pbates.co.uk

· www.clivewatkin.com

This was posted in Bdaily's Members' News section by mason media .