25th July 2023
We advised on the sale of a digital media business group to a UK private equity firm in a locked box deal of up to £40m. The deal consisted of cash, earn out and management rollover equity (and sweet equity). We provided comprehensive tax and accounting sales support throughout, including:
- Obtaining tax clearances from HMRC.
- Advising on all share option matters, including employee benefit trusts (EBT) transactions and detailed analysis comprising of over 100 EMI option holders (many with multiple option grants and receiving rolled equity).
- Assist in valuation of sweet equity received by key management.
- Ensuring the private equity structure and acquisition mechanics qualified for Capital Gains rollover treatment
We worked with the target’s finance team to produce personal Capital Gains statements and tax return completion instructions for over 100 shareholders.