Tees recently assisted a sole trader with the sale of his veterinary practice based in Chelmsford, which he has successfully run on his own since 2005, having worked at the practice since 1980.
The transaction involved the sale of the business to a company buyer. The deal included key assets such as veterinary equipment and machinery, practice stock, goodwill, book debts, business contracts, and business records.
Our Corporate and Commercial team, led by Claire Powell (Partner) and Gabriella Cox (Solicitor), provided comprehensive legal support throughout the process. This included:
Advising on and negotiating the Asset Purchase Agreement
Drafting a Disclosure Letter and advising on warranties
Assisting the client in responding to due diligence enquiries
As part of the business transfer, employees were also transferred to the new owner in accordance with the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE). Tees prepared a notification letter for employees, ensuring compliance with employment law requirements.
In parallel, our Commercial Property team, led by Daniel Fairs (Partner) and Ellen D’Souza (Solicitor), handled the property aspects of the transaction. Their work included:
Drafting and negotiating a Lease for the practice premises, with the seller retaining ownership and becoming the landlord
Preparing a Pre-Emption Agreement to give the buyer a first right of refusal in the event of a future sale of the property
The transaction was completed smoothly, enabling our client to step away from the business with confidence and peace of mind.
Our client shared the following feedback:
“I would like to express my gratitude for the service and support provided during the sale of my business and the preparation of the lease for the new owners. The transaction was handled with efficiency and care, and the guidance provided by Tees was both reassuring and invaluable. Please accept my thanks for the dedication and commitment shown by the entire team. It has been a pleasure working with you, and I would not hesitate to recommend your services.”
We’re proud to have helped facilitate this important life transition and wish our client a happy and fulfilling retirement.
