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Alexander Knight & Co advises client in multinational transaction

We were pleased to advise the directors and shareholders of our client Pace Rehabilitation on its successful sale of the business to a multinational company.

Global health-tech company Ottobock has acquired Pace Rehabilitation, one of the top independent providers of prosthetic and rehabilitation services in the UK which is now part of a unified organisation with nationwide coverage.

Pace Rehabilitation was established in 2003 by a small team of experienced clinicians and has provided an integrated approach to the treatment of people who have sustained limb loss or serious limb injury over the past 20 years.

Operating from clinics situated in Amersham, Bredbury and Glasgow, its teams of clinicians help patients to improve their overall quality of life and enhance their mobility.

Alexander Knight & Co was pleased to advise the management team of Pace before, during and after the transaction with our accountancy and tax services.

Speaking upon the conclusion of the deal, Phil Yates, Managing Director of Otto Bock Healthcare said:

“We are thoroughly delighted to complete the acquisition and excited to welcome Pace Rehabilitation and their successful team to the Ottobock Family. Their endeavour aligns perfectly with Ottobock’s own mission to empower people to regain or maintain their freedom of movement.”

Toby Carlsson, Managing Director of Pace Rehabilitation, said

“We look forward to joining forces with Ottobock and benefiting from the opportunities that come with being part of a strong international organisation. We now join a network of clinics within a company that has a long-standing track record of bringing new and innovative products to the market. It is great news for all our stakeholders, and we are excited for the future.

“We are pleased with the support and guidance we have received from our accountants, Alexander Knight & Co. The team was incredibly proactive throughout the process and played a key role in ensuring this transaction went smoothly.”

Murray Patt of Alexander Knight & Co, said:

“This deal makes perfect sense for both parties strategically. It brings together like-minded organisations with a shared vision of empowering people who have sustained limb loss.

“It is always pleasing to see clients develop and grow their business to the point where they are in a position to join forces with other organisations. We are delighted for both parties with the outcome of this deal.”

Pace Rehabilitation’s team of 40 people consists of consultants, therapists, allied health professionals, technicians, and support staff, who are all now part of the Ottobock Family.

To read more, see here.

 

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Alexander Knight & Co advises on tax as Travis Perkins acquires Stockport business

TFS acquired by Travis Perkins

We were pleased to advise the owners of a successful Stockport-based business when it was acquired by a major PLC on their tax liabilities.

TF Solutions, (TFS) is one of the UK’s leading air conditioning and refrigeration distributors and was recently acquired by the country’s largest builders’ merchants, Travis Perkins.

The purchase enables Travis Perkins to expand its offering through the sale and supply of air conditioning units. Our specialist tax role on the deal was highlighted by North West Business Adviser magazine – you can read all about the deal here.

Tax advice on deal

TFS was founded in 2001 and distributes a range of refrigeration and air conditioning products from three sites in Stockport, Burton on Trent and Dunstable. It will continue to trade as TF Solutions following completion of the deal.

Murray Patt,, founder of Alexander Knight & Co, said:

We were delighted to provide our client with the tax advice on this transaction and expect them to go from strength to strength as part of one of the most trusted brands in the building materials marketplace.

Andrew Cherrill has been confirmed as the new managing director at TF Solutions. He said:

We fully intend to continue operating as we have always done giving our customers a service level which is second to none in the industry. The acquisition deal will allow us to grow as a company and expand that service.

Frank Elkins, CEO of Travis Perkins’ Contracts division, added:

“TF Solutions have an extremely strong identity within the air conditioning and refrigeration market.”

The business currently employs 48 people at its three branches trading across the whole of the UK.

Speak to us to get specific tax advice before you agree any kind of deal. You need to know how to minimise the level of tax you will pay when you sell your business.

 

 

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