Hull and East Yorkshire-based 360 Chartered Accountants who have just completed work on two separate acquisitions for clients, say careful business planning and financial advice are the key to success.
360’s Sean Maloney has recently helped secure the acquisitions of coffee roasting business York Coffee Emporium by multi-million pound vending company the Upton Group, based in Selby, as well as the Country Park Inn by Beverley consortium Country Park Leisure Ltd.
Sean, who specializes in advising on the structure of acquisitions and the way they should be funded, said:
“We couldn’t be more delighted to be involved in both of these acquisitions. It took a year to put the deal together to acquire York Coffee Emporium but working closely with Uptons we put together a great business plan which was backed up by all the necessary financial information required to access funding. It’s this due diligence and a painstaking attention to detail that is essential in order to secure a successful funding application.”
Meanwhile, the deal to acquire the Country Park Inn was much quicker – just two months from approach to completion. It had been in administration for around 18 months and 360 was relentless in ensuring the deal completed in time.
Sean continued:
“It was great to be involved in securing the Country Park for a local company.
This deal is a perfect example of what happens when a business is operating in administration and the administrators are looking for a disposal. It required speedy analysis and assessment as well as the production of essential financial information. There were a lot of elements to put together but working closely with the directors of CPL we achieved our goal.”
In both cases, 360 is still involved in supporting both businesses during the integration and transition process.
Ross McDonald, Managing Director of the Upton Group, said:
“We are indebted to the dedication of 360 Chartered Accountants for their expert advice and incredibly hard work throughout our acquisition of York Coffee Emporium. They were instrumental in bringing together two successful family businesses with a similar ethos to create a company with a much wider spectrum, benefitting all our staff as well as current and prospective customers.”
Andy Deacon, Managing Director, Country Park Leisure Ltd., said: “Sean Maloney was an integral part of securing the deal for the Country Park. He was available night and day in order to help us reach our goal of acquiring the business. And with Hull taking centre stage as the UK City of Culture in 2017, we now want to ensure the Country Park is looking its best, ready to welcome overnight guests and host a wide variety of events.”
