B&P oversees acquisition of Cherry Tree Care Home

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Bowcock & Pursaill were delighted to be working again with Basanta Nepal and his team at Dreams Care Homes, supporting them during the purchase of Cherry Tree Care Home from Hallmark Luxury Care Homes.

B&P’s expert legal advice helped the strategic acquisition of Cherry Tree Care Home, ensuring that all legalities were thoroughly addressed to facilitate a smooth transition.

What were the key legal priorities?

The purchase was conducted with discretion and efficiency, helping to maintain business continuity throughout the acquisition process.

Cherry Tree Care Home represented a significant proportion of the value in the business and a full due diligence exercise was needed.

The staff at the home were a significant resource, so all the employee arrangements were reviewed with a commitment to maintaining and enhancing the level of care already provided.

B&P worked closely with the client’s own HR team to ensure their aims were met regarding staff.

Accountants appointed to represent Dreams Care Homes were also consulted, ensuring that the tax and financial aspects of the transaction were fully understood.

The challenges faced

The timescales in which both parties wished to conclude the deal were a significant challenge.

Bowcock & Pursaill worked closely to achieve the desired result, whilst carefully protecting Dream Care Homes’ interest in the transaction.

Weekly Teams meetings with Dreams Care Homes and the seller’s chosen legal firm enabled the transaction to move in a timely fashion, meeting the seller’s tight deadlines.

What due diligence was needed?

Bowcock & Pursaill ensured they were fully briefed on any areas of concern and raised targeted enquiries based on these areas.

All parties had access to the seller’s data room, with an understanding that the information would be reviewed to help shape warranties and agree the seller’s disclosure.

Catherine Whittles and the team are available to discuss all aspects of property and business acquisitions. Call on 01782 200000 or email cw@bowcockpursaill.co.uk.

For employment law advice, Clare Thomas is available on 01782 200500 or email her at ct@bowcockpursaill.co.uk.