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Carrick Wealth partners with BDO

South African financial advice firm Carrick Wealth has teamed up with BDO Corporate Services.

Through the partnership, Carrick Wealth will be able to provide corporate financial advisory services to its clients who also are business owners.

Mike Fannin, founder and non-executive director of Carrick Group, said: “This opportunity is very much for those clients who have reached the point where they’re looking to have some form of liquidity event within their business.

“We are also looking to assist those involved in the strategic decision-making process in terms of the business’s ongoing growth, such as acquisitions or divestiture of divisions.”

Stephan Bester, manager for mergers & acquisitions at BDO, added: “The partnership will enable Carrick’s clients access to the full spectrum of corporate finance services.”

‘Most important financial asset in your life’

The offering will include:

  • Full or partial disposal of a client’s equity position in their business;

  • Introduction of a strategic equity partner to the business;

  • Raising acquisition and debt finance;

  • Acquiring a minority or majority stake in target;

  • Management buy-outs and buy-ins; and,

  • Guidance on getting a client’s business ready for sale.

Guy Steele, head of mergers & acquisitions at BDO Corporate Finance, said: “In our experience, a structured process in any corporate action, whether it be buying or selling, is beneficial to all parties.

“There is nothing like a little competitive tension to drive price and timetable. Also, never underestimate the importance of sale readiness – make sure the house is in good order when trying to attract buyers as this is likely to maximise your price and minimise your ongoing obligations in the form of warranties and indemnities.

“While some advisers like the quickest, easiest deal, we would rather have the hardest, longest deal if that’s the right option for the client. Your business is, after all, arguably the most important financial asset in your life.”

Other services on offer will include the drafting of shareholders agreements, buy-sell agreements, key man insurance, and corporate governance checks.

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