Well, we worked long enough and hard enough for it....

[tvrolet]

As of Friday, I left the ranks of business directors/owners/shareholders and became a humble employee.

http://www.hemscott.com/news/latest-news/item.do?n...

http://www.smallcapnews.co.uk/article/K3_snaps_up_...

etc etc....

Index was our wee business. I wasn't the largest shareholder by a long shot, but it'll still make for a nice Xmas

25+ years in small businesses trying to grow somthing of substance, and some real close shaves along the way, plus one very personally expensive failure. Whatever you do folks, never sign Directors guarantees. I learned the hard way 15 years ago. But this time round I guess we got it right. So, to all small business folks out there - don't lose the faith!

[srebbe64]

Congratulations - I guess you're paying just 10% Tax which is nice! That'll be changing shortly!

[davidd]

WB

Congratulations, you should be very pleased with yourself.
Seeing something through to exit must be very satisfying (and not something I can tick off as yet).

Can I ask why now and this deal?

D

[atom111]

Congratulations, it's good to see some long time effort rewarded, enjoy the rewards.

So what you going to treat yourself too?

I was always told that when you make a little you should reward a little

[Eric Mc]

Was your decison to sell up accelerated by the upcoming CGT changes?

[dabeeeenster]

Do you mind my asking why you didn't go for an earn-out? Feel free to say no!

[atom111]

An earn-out is not always beneficial to the seller more the purchaser as it ensures that targets are met before more shares and/or cash is released, it can also mean the purchaser can pay for a business out of profits made from the business being bought but IMHO that is a higher risk acquisition strategy than having the capital already and of course the seller has to wait for their full reward After 25 years I'd have sold lock stock and no earn out which I believe the OP has done, and as there is no reply I guess there are on the beach already

[davidd]

atom111 said:

which I believe the OP has done, and as there is no reply I guess there are on the beach already

Track more like

[tvrolet]

davidd said:

atom111 said:

which I believe the OP has done, and as there is no reply I guess there are on the beach already

Track more like

Working more like! The hours certainly haven't changed much...working till midnight last night, and up at 4:30 to catch EasyJet’s finest. And now just catching some web access at Stansted since my ‘lift’ has got delayed But hey, I paid the mortgage off yesterday; which was nice

As to timing, we'd always planned to try to build the business to the point where we could sell it. And although we didn't have a particular date in mind, I'd just hit a...what shall we say...'significant' birthday, and I was the youngest of the directors/shareholders (but not by too much). We were all fairly open to the concept of selling therefore, but we hadn't really got started down the route when we were approached. It seemed like a good offer, a good match, and offered some good further potential for us, the business and the other employees so we progressed the negotiations. It just seemed to be the 'right' offer; and with the tax changes next year it was also at the right time. I'd like to say we planned the sale to the day, and targeted our suitor with precision...but we didn't. One of the few things in business that just worked out for us.