fig news

Chartered accountants and business advisers, Larking Gowen, has reported record figures this year for advising clients on the buying and selling of businesses in East Anglia.

James Lay, a Corporate Transactions and Business Advisory Partner, said: “The market for buying, selling and valuing businesses, which are our core activities, is looking very healthy.

“Sellers should have the confidence that they can get a fair price for their business. Buyers are undertaking a greater degree of due diligence than before, but there is still a high demand for good, strong, viable businesses.

“With the growth in this area of the business, we’re very pleased to welcome two new members to our Corporate Transactions Team.”

Sophie Steadman, who is originally from Norfolk, joins the firm as a qualified chartered accountant after four years in the corporate finance department at a top four accountancy firm in London.

Ben Horner-Glister has been with the firm for five years, working in its medical department. He has already had a successful secondment to the team and now joins it on a permanent basis.

James explained that the firm’s core market was family-owned businesses of between £1m and £10m or more in value.

“We work largely on a success fee basis, which makes for a very straightforward relationship between us and the client. We’re not in the business of telling people what they want to hear, so if you’re not ready for sale, then we’ll guide you on what you can do to increase the value and attractiveness of your business.”

James says confidentially is a primary concern with all clients. “We make sure non-disclosure agreements are always in place, and give our clients control over the whole process, only approaching buyers we are all comfortable with. We are very transparent in terms of the results of the work we do, who we’ve spoken to and why they are interested or not interested,” he said.

“Our Corporate Transactions Team is now seven people strong, and we’re really proud that we are building a department of that size. Looking back to the turmoil of COVID-19, when far fewer people were looking to buy or sell a business, it feels like we have come a long way and the outlook continues to look very positive,” James said.