Cutting through the complexities
AN evening seminar at Wexford Chamber of Commerce on the ‘Art of Buying or Selling a Business’ attracted over 40 participants.
Speakers George Skelton of RDA Accountants and Catherine O’Connor of O’Connor Mullen Solicitors, gave fascinating and insightful talks on the topic.
Opening the event, Karl Fitzpatrick, Vice President of Wexford Chamber said there is significant appetite for acquisitions in the Irish market at present but it is important to be fully aware of some of the complexities which can occur when buying or selling a business.
‘I have no doubt that these complications will be simplified tonight’, he said.
Speaking about his own company’s involvement in a bid to acquire The Shaw Academy Group, Mr. Fitzpatrick said: ‘Chevron has progressed to the due diligence stage of the process, so I look forward to gaining a deeper understanding of the challenges, risks and opportunities which George and Catherine will present to us.
The seminar included information on the process of identifying and buying the right business at the right price as well as legal aspects relating to a purchase, methods of financing a purchase and preparing a business for sale,.
Valuable guidance was also given on how to value a business, select a buyer, on tax planning, due diligence, the legal aspects relating to a sale and finalising a sale.
A lively questions and answers session followed the presentations in which both speakers were asked a range of questions about their work.