Fairhurst were instructed to assist the process in 2 roles:
- Financial due diligence on the company. Lead partner, Peter Cheetham, and senior manager, Andrea Gerring, were asked to carry out the due diligence and report back within 7 days. This was successfully achieved, and the deal completed on 19 July 2013. The above have subsequently reported on the Completion Accounts and the firm are assisting with the implementation of new accounting systems and controls.
- Tax advisory services on the transaction. Tax partner Patrick Morris provided advice in respect of fund raising in order to secure EIS Income tax relief for certain investors in respect of certain funds raised.
The new owners have been extremely impressed with the all-round expertise of Fairhurst and will be looking to appoint them for future accounting and tax services.