Exit strategy & succession planning
At Libra Solicitors, our expertise can help you or your business implement an effective exit strategy plan that will allow you to make proper provision for the moment when one of the owners, or key members of the organisation leaves the business.
We are committed to providing our clients with clear, practical advice that they can use and we will explain the merits each option available to your business, so that you can make an informed decision as to how to proceed. We will then work with you to implement an effective bespoke exit strategy plan that suits your needs and helps protect the continuing success of your business. For a confidential discussion about your business needs, call us today on 01223 632420 and arrange an appointment
Planning ahead for business
Whether you are involved in a business partnership, or a shareholder of a limited liability company who exercises a management role, it makes sense to plan ahead for every eventuality when it comes to individuals exiting the business. The potential disruption to an organisation’s operations that the unplanned exit can cause, makes it well worth taking the time to engage in strategic planning for the future.
There are a number of potential situations which should be planned for, including:
- When individuals wish to retire from working in the business, and who also decide to withdraw their financial investment at the same time.
- When individuals want to exit the business financially, but still want to retain a management role and remain employed by the firm. This can often happen when businesses becomes part of a larger commercial group.
- When an individual decides to retire from a management role and want to retain their financial investment in the business.
- When individuals want to gradually reduce their involvement so that the business becomes less reliant on them.
It is also practical to consider the potential consequences should one of the owners die or become seriously ill. It is important to remember that in circumstances where part-ownership passes to family members of the deceased, they may not share the same commitment to the business. The decision-making capacity they inherit could allow them to make choices which have a significant impact on the day-to-day running and long-term viability of the organisation.
Whatever the situation, we are focused on helping your business achieve its objectives, both in the short and the long term deliver. We can draft bespoke exit agreements that take into account the various issues involved in an individual leaving the business. We can also include provisions in the agreement that specifically deal with issues such as confidentiality, or non-competition that might be a concern to your business.
For a confidential discussion about how our expertise could help your business move forward with certainty, after key individuals have left, call us on 01223 632420 and arrange an appointment.
Planning ahead for individuals
At Libra Solicitors we listen before we advise and we understand that your personal situation is unique, as are your plans for the future. We believe that by dealing with the issues well in advance and coming to a sensible agreement with any other owners of the business, you can move forward with confidence and could well avoid disruption and costly disputes in the future. Our expertise can help you explore your options which may include any of the following:
- Including a provision in the partnership agreement so that a business partner can buy out your share in specific circumstances.
- Offering your shares in the company to the public.
- Exploring the possibility of the acquisition or merger of your business by or with another organisation.
- Examining the possibility of a management buy-in (MBI) or a management buyout (MBO) should you hold a controlling interest in the business.
In addition, should you decide to instruct us, we can negotiate exit terms on your behalf if the circumstances of you leaving are acrimonious. For a confidential discussion and a thorough examination of the options available to you, call us today on 01223 632420 and arrange an appointment. We will give you clear, practical advice that you can trust.