Deal of the week. £420,000 to buy a second law firm

The requirement

A London law firm owner wanted to buy an established practice in the North West. The price was £840,000, with half due on completion and half paid over two years.

The structure

We built the case around the combined profits of both firms, which came to almost £490,000 a year. We also showed £150,000 of the owners' own money going in, plus personal guarantees from both directors.

The result

The client already had offers elsewhere when they came to us. We still got them the full £420,000 over 5 years at the most competitive rate, approved within weeks of the first enquiry. It started with a few minutes on Instant Quotes.