Sherrards’ corporate team worked with their clients, the owners of Fawcetts Garages (Newbury) Limited, on the sale of the entire issued share capital of the company together with the sale of the freehold premises from the owner’s pension fund.  A family owned business for almost 40 years, the sale to Waylands Automotive Limited sees the change of hands of one of Volvo’s oldest dealerships and one of the highest performing dealerships within the network.  The sale sees the retirement of the principal shareholders and the ongoing involvement of the minority shareholders who have similarly been involved in the business for many years.

Leigh Head, the corporate partner at Sherrards leading the deal commented, “We are well known for working with owner managers to build and develop their businesses, often from the very beginning.  It is really satisfying to be involved in the sale of a hugely successful business where the owners are able to realise their asset and the huge amount of time and effort they have devoted to the business over many years”.

Ann and Roger Sampson added “We were recommended by our accountants, Minney & Co of Dunstable, to approach Leigh Head at Sherrards to handle the complexity of the sale of Fawcetts.  We were very impressed with the service and expertise of this team, but it went further than that. Leigh understood what a monumental decision it was for us to sell such a well respected business with its loyal employees. He held our hand, so to speak. We thank Leigh and his team for bringing the sale to its successful completion”.

The award-winning fitness club brand started life with one franchise in 2003 but now has clubs all over the UK, Europe and the Middle East. This latest development, bringing the head office and training centre together with a new club in Milton Keynes will be good news for its 100,000 members.

The Sherrards legal team has a leading reputation in franchising, working with clients in the retail, automobile and leisure sectors on their commercial and property needs. Understanding the intricacies of the franchising world, means the Sherrards team are focused on making sure the deal succeeds with both parties benefitting.

Terry Fendt who led the team advising on the legal aspects of the deal commented, “We’ve worked with énergie Fitness for a number of years now assisting both franchisees and the franchisor. The franchising business model attracts dynamic and ambitious people and leads to some great work and opportunities. The team at Sherrards responds incredibly well to this and provides legal advice and client service to match.”