Conquering M&A – Completion or Locked Box

Completion or Locked Box The prevalence of private equity in M&A transactions has led to an increasing trend in the UK to using the “locked box” approach to determine the final price for a target business rather than completion accounts. The primary difference between the two mechanisms is the date of transfer of economic risk. … Continued

A Recap on Directors Loan Accounts

As a director, the company may pay for personal expenses from time to time. You can clear the debt by repaying it or get the company to write it off. Does it matter how and when you do this? By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Over £10,000? Your company card has … Continued

Conquering M&A – Auctions

Auctions Two techniques: Limited or controlled auction (a “handful” of candidates selected); Open auction (open to the world). Limited auctions can be completed quicker and the threat of an open auction can be used to keep bids up. Open auctions can threaten the business, but the release of information can be controlled. A controlled auction … Continued

Physics prizewinner joins Dow Schofield Watts Angels

Dow Schofield Watts Angels, the Northern angel investor network, has appointed Oliver Rogers as analyst as it continues its expansion. Oliver, who has a degree in Maths and Physics from the University of Bristol, was previously a  data analyst with e-commerce specialist The Hut Group, and also worked as a physics tutor. He is a … Continued

Conquering M&A – Acquisition Rationale

Acquisition Rationale Deal rationales for acquisitions are usually to acquire: Customers – access to new customers and markets Products – access to new products and services. Capability/Diversification – access to new people, technology, IP, or distribution channels; Defensive – to prevent a competitor from acquiring the business or key assets. Synergies – arising from strengthened … Continued