Price Bailey has advised management on the shareholder buyout of Carvels Lettings Limited, a lettings and property management company based in Norwich. The Company specialises in residential lettings and student properties.
Sheridan Derbyshire and exiting shareholder Anna Daniels co-founded the Company in 2013 and have managed the business since. Anna decided to leave the business to pursue a new business venture, presenting the opportunity for Sheridan to undertake a shareholder buy out and acquire full control of the Company.
Price Bailey provided lead advisory support throughout the process, including; initial feasibility and transaction structuring, review of financial projections to support the transaction and funding discussions, exploring suitable funding options, obtaining tax clearance for the transaction and liaising with the legal advisors, offering advice and support through to successful completion.
Sheridan Derbyshire, Carvells Lettings said, “Price Bailey’s advice, support and project management helped guide us to the outcome we desired. Their input at the early feasibility stages was pivotal and helped ensure this was a smooth and stress-free transaction. I would like to thank Seb and Sam at Price Bailey for their help and support.”
Seb Humberston, Price Bailey said, “It was pleasing to be able to help Sheridan and Anna structure a simple deal that worked for both their needs and, working with the respective lawyers at Rogers & Norton and Ashtons Legal, meant that it was possible to conclude matters quickly and efficiently. I am sure Sheridan will continue Carvels successfully, and of course, we also wish Anna well in her new venture.”
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