Cowgill Holloway LLP advises on the buy-out of Cornerstones
The Corporate Finance team of North West-based chartered accountancy firm Cowgill Holloway has advised on the successful buy-out of Cornerstones, a long established local business.
Cheshire based Cornerstones provide specialist residential placements for young people with complex needs, including diagnosis upon the Autistic Spectrum and Learning Difficulties. The business runs a DfE registered school for 18 pupils aged 7 to 19 years and 4 residential homes in Warrington with 19 registered places.
Cowgill Holloway advised the partners of the business which has been trading since 2000. The deal will see three of the partners retire, while the fourth partner, Paul O’Leary, has acquired the trade and assets of the business through a newly formed company, Bright Futures Care Limited. The business will continue to trade as “Cornerstones”.
Cowgill Holloway project managed the deal throughout the entire process including agreeing the strategy, structuring the transaction and advising on a number of complex issues including property and taxation matters.
Paul O’Leary, Managing Director of Bright Futures Care Limited, said: “Cowgill Holloway were highly supportive at every stage of the transaction, combining a sensible commercial approach with specialist expertise.”
Ian Johnson, Head of Corporate Finance at Cowgill Holloway said: “Healthcare is a sector that we are very active in and we are delighted to have been involved in this particular deal. This is a very successful business which continues to provide a fantastic service to those who need it most.”
The information was correct at time of publishing but may now be out of date.