We acted for the purchaser of an established hydraulic company in Sheffield, after the owner manager made the decision to retire.

The company was established in 1960 and has been owned by the seller and his family for several generations, operating as a repairer of machinery and hydraulic engineers. The buyer worked for the company for 30 years, meaning he already had a good understanding of its operations.

Rob Moore and our corporate team advised the buyer on the incorporation of a new company, which purchased the entire issued share capital in the existing operation. The transaction included several stages, including establishing a new holding company for the buyer and the seller purchasing shares owned by his mother before they could be passed onto the newly formed business. He remained involved in day-to-day operations, after taking on the role of director and shareholder in the new company.