A 2-partner accountancy practice based in the North East had been approached via an agency with the details of another local firm, whereby the owner was looking to retire and sell a block of fees.

The selling practice was a little larger than their exiting operation, but they had capacity to bring the new client base under one roof and the retiring seller agreed to stay on as a consultant whilst the process took place a smoothly as possible.

A payment structure was negotiated with seller, which meant that half of the agreed selling price needed to be raised for completion to take place, with the balance being deferred over the following 2 years.

Having read one of our regular newsletters on email, they approached County for help.  We quickly identified that this was a cost neutral project and that the deferred payment could easily be settled from profits, so an unsecured practice loan was provided for the full amount needed to complete.

From enquiry to pay-out took less than 4 working days.