Rickard Luckin provided support and guidance to the owners of Joseph R Lamb Independent Financial Advisors Ltd, during the company’s sale to Kingswood Holdings Ltd.
Established in 1970, Joseph R Lamb is a trusted firm that provides financial advice to over 1900 active clients.
The company’s founder, Joseph Lamb, started the business working from his home in Shoeburyness, before moving into a Southend office in 1978. There, the company expanded from a single room to taking over the premises next door, finally moving to its current Rayleigh premises in 2007.
Kingswood Holdings Ltd. (trading as Kingswood) is an international, fully-integrated AIM-listed wealth management group that serves over 18,000 clients from a global network of offices. Offering a range of trusted investment solutions to clients that range from private individuals to some of the UK’s largest universities and institutions, Kingswood is focused on creating a global business through targeted acquisitions.
David Lawrence, UK CEO at Kingswood, commented: “Martin and his team at Joseph Lamb operate a long established and highly regarded business that has had a true client focus for over 50 years. This acquisition creates a hub in Essex for Kingswood from which to grow.”
Working alongside BTMK Solicitors, Rickard Luckin provided specialist advice and support to Joseph R Lamb throughout the sale process, helping to facilitate a successful exit from the business, and providing a strong foundation for future growth.
Specific assistance offered by Rickard Luckin included advising on the structure of the deal, providing tax advice, collating due diligence documentation and supporting the drafting of the legal documentation.
Martin Lamb commented: “I found the help and advice provided by Rickard Luckin in the sale of our business invaluable. I have worked in Financial Services for decades and I am very familiar with taxation and complex deals, but I was very pleasantly surprised by just how much value Mark Brooks provided, assisted by Andrew Norris, Dan Garside, and Sam Habermel on the sale side.
Not only did their advice improve our taxation position, but Mark’s advice and attention to detail in the negotiation of the sale contract was a genuine surprise to me. After running a complex business of some size for decades, I felt I knew as much as I needed to know. He proved me very wrong!
In addition to reinforcing our contractual position the monetary outcome of the deal and improved tax position earned their fee many times over. This goes to prove that in complex matters, no matter how much you think you know, you should always take professional advice. We would like to thank all the team at Rickard Luckin who assisted in the sale.”
Mark Brooks, Corporate Finance Associate at Rickard Luckin, commented: “It was a pleasure to work alongside Martin to help him achieve his aims of putting his business, which has been family owned and run since incorporation, into the hands of a company like Kingswood Financial, who will continue to grow the business and provide ongoing continuity in the client service proposition.
Martin was clear in his objectives from a sale, and I am pleased to have supported him through the transaction. Personally, as with all transactions I am involved in, it is a great moment once the paperwork is finally signed, and I congratulate Martin on completion.”
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