S&J Irving Compressors Limited

Sale of the entire issued share capital of S & J Irving Compressors Limited

Steve Irving was the sole shareholder of the company.  He had been the Managing Director for over 40 years and had agreed to sell the entire issued share capital of S & J Irving Compressors Limited in a management buy-out to a company formed by two of the company’s key employees.

What WHN Delivered

Paul Matthews led the transaction, supported by Harry Owen, and working closely with the client’s accountants and tax advisers.

As the management buy-out team were being offered the opportunity to acquire the company by making payments over a period of time, it was important to the client that appropriate steps were taken to secure the deferred consideration. Paul advised the client as to how that may be best achieved, drawing on his deep experience to appraise him of the various options available and their pros and cons.  It was agreed to take a debenture over all the assets of the company and that document was prepared by Paul and put in place to protect the client’s interests.

The client wished to complete the transaction prior to the budget in October 2024.  Although the team only received instructions in mid-September, they were able to expedite the transaction to meet the exceptionally tight deadline, illustrating the benefit of their experience as well as their hands-on approach to working in close collaboration with clients and other advisers to achieve the required result.