Right on Tee!

“We knew the existing owners were looking to sell and we knew from an internal perspective that the business was a sound one, said Nick. “The timing was right and it seemed the ideal opportunity to take control of the situation. We look forward to reaping the rewards from the efforts we have put into the business so far. However we needed a starting point and some good professional advice. Talking it over with our accountants, MacIntyre Hudson, they introduced us to their corporate finance team. Doing deals is their business and we found the experience they could share with us invaluable. In a similar vein, I have offered my expertise to help them with their golf swing!”

Located just off the A5 in Tilsworth near Dunstable, Bedfordshire the Tilsworth Golf Centre has an 18 hole golf course, fully licensed bar and function rooms providing a range of facilities for conferences and wedding receptions.

Nick Webb commented “The management buy out is the first step in a strategy of expansion for the new team and MacIntyre Hudson have the skills in house locally to help us with that too. “We remain committed to operating a well run, family business providing golfing, recreation and hospitality for the private and corporate markets,” he added

Advisers to the management team were Laurence Whitehead, partner and Rabby Persaud, associate director of MacIntyre Hudson’s local corporate finance team. They worked with the MBO team to put together a five year business plan, assisted the company’s lawyers and bankers in structuring and negotiating the deal and secured the necessary tax clearances from the Inland Revenue. As auditors they also provided the financial assistance audit reports required to effect the transaction. Dean Dunham of Shoosmiths Solicitors provided legal advice to the MBO Team. (Right to Left) Nick Webb and Garrie Brandon-White of Tilsworth Golf Centre with Laurence Whitehead and Rabby Persaud (MacIntyre Hudson Corporate Finance)

Laurence Whitehead commented “This deal was a classic roll-over assisted management buyout or RAMBO type deal. The departing vendors assisted in achieving a workable deal for all parties concerned.” Rabby Persaud added “Professionals have a reputation for spending a lot of time on golf courses. This time it was for genuinely work related reasons!”

(Photo: Left to right) Nick Webb and Garrie Brandon-White of Tilsworth Golf Centre with Laurence Whitehead and Rabby Persaud (MacIntyre Hudson Corporate Finance)