Exploring the human element of dealmaking

The importance of the human element in successful dealmaking was highlighted in Lancashire’s Business View’s annual ‘Doing the Deal’ event.

The online gathering, held in association with Access 2 Finance, Azets and CG Professional, was attended by 55 delegates.

This year’s event looked to get to the heart of the thinking, the process and the pain-points involved in buying and selling businesses. It also examined the challenges of doing a deal in the current Covid-19 pandemic.

John Flood and Paul Fox, of Fox Brothers, shared the inside story of last year’s big deal, bringing together two of the North West’s heavyweight operators in the construction sector to create a £50m-turnover haulage and plant hire group with growth in its sights.

Fox Brothers, the Blackpool-based haulier of aggregates, recycled materials and earthworks contractor, acquired Clive Hurt Plant Hire in the multi-million-pound deal.

The combined busines employs more than 320 people. Paul Fox, group managing director of Fox Brothers, explained the thinking behind the acquisition, describing it as “a catalyst” for future growth. And he explained how it will create significant opportunities to compete for larger projects.

Group commercial and strategic director John Flood, who has a wealth of business buying experience, spoke of the emotional element involved in dealmaking.

He said: “The principal shareholder of Clive Hurt had been in the business for 40plus years. In that sense he was emotionally attached to the business and wanted to see it flourish.

“The personal aspect can sometimes be overlooked. Making sure the deal is right for the current owner of the business, never mind the future owner, is very important.”

Delegates also heard from business leaders experienced in doing the deal and professional service experts.

They told the event that transparency and good communication were vital in successful dealmaking and it paid for businesses to ensure they were ready to meet the demands of what can be a “roller-coaster” process.

Matthew Hirst, chief executive of global group ESG, has a management buyout and the business sale of Lancashire-based Utiligroup to its new parent under his belt. He revealed how he had walked away from two recent deals because of those businesses lack of preparation.

He said: “Get your advisors on board early to make sure that you have got your house in order.”

Janine Murray, mergers and acquisitions director of Lancashire-based Daisy Communications, explained how the group had grown through its acquisition strategy.

She echoed the need for businesses to work with their advisors from a very early stage as the sale process was never simple and straightforward. And she added: “You need to be truthful, realistic and pragmatic.”

That includes bringing any issues out into the open rather than seeing them exposed during due diligence and losing the deal.

Paul Ainscough, director of Ormskirk-based play equipment company Eden Play, is well-versed in buying businesses, including operations in distress.

He said: “You must have a plan. Why are you buying the business? There must be a long-term objective, whether that is to sell it, expand it, grow it or scale it down.”

He added: “You’ve got to understand the numbers. From that you can form a strategy.”

Paul Harper is sales and marketing director of Daish’s Holidays. The Bournemouth-based coach holiday specialist recently acquired Great Harwood-based family holiday firm Robinsons.

He said the deal was part of its strategic growth plans and added two hotels on the south coast to its portfolio as well as opening up the North to the business.

And he added: “We have a very successful busines operation, we know what we do, how we repeat it and how we scale it up.”

Tim Mills, partner at accountancy and business advisory group Azets, said a big part of an advisor’s role was getting to know its clients and the background to their businesses.

He added that selling and buying were both stressful and time-consuming and he spoke of the emotional impact of disposing of a business, adding: “never mind the pounds and pence, there are people involved.”

Benjamin Dredge, managing partner at CG Professional, said for owner-managers the sale of their business is a milestone event. He added: “Understanding them as a person is incredibly important.

“You need to build trust between yourself and the client to understand what issues you may need to address. Getting to know them fundamentally is crucial right at the outset.”

Mark Gibbons, senior access to finance specialist at Access 2 Finance, said part of the process was making businesses “investment ready” and in the right shape to take it to lenders and investors.

He added: “It is having that complete picture, so that when lenders and investors have a look at it, they have got a really good feel for the business.”

More coverage of this event will be featured in the March/April issue of Lancashire Business View magazine.

Watch the event in full below.

 

Enjoyed this? Read more from Lancashire Business View

Latest news

1

Chiptech announces major innovation initiative at high-profile reception with the New Zealand Prime Minister in London. The Rt Hon Jonathan Reynolds, the Rt Hon Christopher Luxon and the Rt Hon Steve Reed (L-R Front Row) David Hammond, and Daniel Knowles

Chiptech announces major innovation initiative at high-profile reception with the New Zealand Prime Minister in London.

30 Apr 2025

2

Northstone secures full planning permission for 50 new homes in Edenfield Edenfield housing development

Northstone secures full planning permission for 50 new homes in Edenfield

29 Apr 2025

3

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens Dovestone Gardens launch

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens

29 Apr 2025

4

PHX Training welcomes new business leader to drive learner success Louise Kirby

PHX Training welcomes new business leader to drive learner success

29 Apr 2025

5

Lidl to invest half a billion pounds in its expansion as it eyes sites in Lancashire Lidl

Lidl to invest half a billion pounds in its expansion as it eyes sites in Lancashire

29 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

Advantage: AI – A Workshop for Business Leaders – May 2
EV-land-2025-05B.png.png
LBV Hub Seminars
02 May 2025 - 02 May 2025

Advantage: AI – A Workshop for Business Leaders – May 2

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Innovating business solutions through PhD Partnerships
30478 Skills Bootcamp open day setting.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Innovating business solutions through PhD Partnerships

University of Central Lancashire, Preston , PR1 2HE

14:30 - 15:30

Celebrating 50 years of KTP
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Celebrating 50 years of KTP

University of Central Lancashire , Preston, PR1 2HE

16:00 - 18:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin