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Nicholsons lend a hand
Nicholsons, the firm representing The Corporate Finance Network in Lincolnshire & Peterborough, have assisted a business in the retail sector to acquire the trade and assets of another site.
Richard Hallsworth, of Nicholsons, was approached by Lloyds TSB to carry out a due diligence exercise, as they were considering supporting a lending proposition to the company, in order for them to complete the acquisition. In particular Nicholsons were asked to focus their work on reviewing the quality of the business plan, the reasonable of the assumptions in the financial projections, and they were also asked to provide advice about the tax aspects in the deal structure.
The investigation was concluded in June, and the bank was happy to provide £1.2m worth of funding to the acquiror. Nicholsons are hoping to continue to develop their relationship with this retailer as he goes from strength to strength following completion of the purchase.



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