Purchasing a Business
A business purchase agreement is a contract used to transfer the ownership of a business from a seller to a buyer. It includes the terms of the sale, what is or is not included in the sale price, and optional clauses and warranties to protect both the seller and the purchaser after the transaction has been completed. You may wish to simply purchase the assets of an existing business, in which case you will need an asset purchase and sale agreement. There are different legal ramifications for both scenarios and we can help you select the best option for you.
When purchasing a business, it is wise to undertake careful due-diligence and then to ensure that your business purchase documentation is in order and appropriate for you in the circumstances. Buyers need to be aware of any weaknesses that the business has, the results of which may affect amount you offer to pay for the business.
We will walk you through the due diligence process, including examining the strength of the customer base, the adequacy of the business premises (including any lease), and your ability to increase the profitability of the business. We can also prepare your loan documents, security and guaranty documents, and assist you with acquisition and business succession strategy.