Adam Benedict Oversees Successful Sale of Established Southampton Business
We are delighted to announce the successful completion of a complex business sale, finalised on Friday, for a long-standing landscaping machinery dealer based in Southampton.
This matter involved the sale of a sole trader business, structured as a Transfer of a Going Concern (TOGC). The transaction required careful navigation of multiple legal components to ensure a seamless handover of all business operations and assets.
Led by our experienced senior associate Marco and trainee solicitor Harrison, the transaction included the preparation and execution of a comprehensive suite of ancillary documents. These covered:
Transfer of Business Assets and Stock: Overseeing the legal transfer of all physical stock and business assets, ensuring clear title and appropriate warranties were in place to protect the client. This included detailed inventories, asset allocation, and consideration of any liabilities or encumbrances.
Assignment of the Commercial Lease: The business operated from leased premises, which required the careful assignment of the existing lease to the buyer. Our team liaised with the landlord and advised on all necessary consents and conditions, ensuring that occupation rights transferred seamlessly. This also included drafting guarantees for the Buyer’s guarantor to act as joint guarantor, protecting our client against the Buyer’s default on the terms of the lease.
Transfer of Goodwill: As with many owner-operated businesses, goodwill represented a significant part of the transaction value, allowing the Buyer to benefit from the goodwill the business has generated over the years.
TUPE Advice: We provided guidance under the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) as to avoid common pitfalls and limit employment exposure. This included the preparation of employee liability information and the handling of consultation obligations. Our approach ensured that the buyer inherited a legally compliant and well-informed workforce.
Thanks to Marco and Harrison’s meticulous attention to detail and pragmatic approach, the transaction was completed on schedule and with the full satisfaction of all parties involved. We're also pleased to share the following feedback:
“Delt mainly with Harrison and Marco regarding this transaction, I was kept informed of progress on almost a daily basis by either Harrison and Marco…very professional, easy to talk to and a real asset to Adam Benedict.”
We would like to thank our client for entrusting us with this important matter and extend our best wishes for their future ventures.
If you are considering selling or acquiring a business — whether you're a sole trader, partnership, or limited company — our commercial team at Adam Benedict offers clear, strategic advice tailored to your needs. From preparing heads of terms and handling due diligence to advising on TOGC, TUPE, and post-completion matters, we guide you every step of the way.
Get in touch today to find out how we can help you achieve a smooth and successful outcome.
