An Exclusive Interview with: Bowcock & Pursaill www.bowcockpursaill.co.uk COMMENTS: “We were delighted to be working once again with Basanta Nepal and his team at Dreams Care Home and wish them every success in their new venture.” www.bowcockpursaill.co.uk Can you share any unique legal challenges or considerations encountered during the transaction process for Cherry Tree Care Home? The timescales in which the parties wished to conclude this deal were a significant challenge. Bowcock & Pursaill worked closely with all parties to achieve the desired result whilst protecting its client interest in the transaction. What were the main legal due diligence steps Bowcock & Pursaill took to ensure compliance with regulatory standards for Cherry Tree Care Home? Bowcock & Pursaill took full and clear instructions from the client to ensure that they were fully briefed on the areas of concern to the client and raised targeted enquiries in this regard. All parties had access to the seller’s data room and were encouraged to fully participate in the review of this information to feed into the warranties and agree the seller’s disclosure. What role did Bowcock & Pursaill play in facilitating communication between all parties involved in the transaction, and how did this contribute to the overall success of the deal? Representatives from Bowcock & Pursaill participated in weekly Teams meetings with their client and representatives from Morgan La Roache and the seller. This enabled the transaction to move in a timely fashion to meet the seller’s deadlines. What were the key legal priorities for Dreams Care Homes in acquiring a facility like Cherry Tree Care Home, and how did your team address these? The property represented a significant proportion of the value in the business and a full due diligence exercise was undertaken in this respect. The staff at home are also a significant resource and all of the employee arrangements were reviewed with this in mind. We aim to understand both our client’s business model and that of the target to focus our due diligence efforts on the areas which are critical to both. We worked closely with our client’s own HR team to ensure their aims were met as regards staff. We also interacted with the accountants appointed to represent Dreams to ensure that the tax and financial aspects of the transaction were understood from their perspective. TRANSACTION INTERVIEW 57
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