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Top 5 legal tips when buying a business

Thanks to our friends at eBroker for the opportunity to share our top legal tips when buying a business. Stay tuned for our top legal tips when selling a business.

If you need any legal advice on either selling or buying a business, please get in touch with one of the Sierra Legal team (https://lnkd.in/g77qGmt).

The article is available on the website of eBroker - https://www.ebroker.com.au/News/top-5-legal-tips-when-buying-a-business

Earnout protection mechanisms for business sale agreements

In a post a couple of weeks ago (click here), I gave 5 tips for sellers of businesses in relation to earnouts. As most of you will know, an earnout is the right of a seller to receive additional compensation in the future if the business that was sold achieves certain financial goals after completion of the sale (e.g. earnings over a specified threshold level).

In this week’s post, I suggest some specific earnout protection mechanisms that sellers could try to include in business sale agreements that contain earnout provisions.

Sierra Legal on video with VANA - the Victorian Association for Newsagents

It was lights, camera and action for Craig Sanford at VANA, as he was interviewed by VANA’s General Manager, Brendan Tohill, in a recent "video newsletter" - see below for a snippet of the action! VANA is an important client of Sierra Legal, and we are also promoted by VANA as a preferred supplier of legal services for newsagency businesses that are members of the Association.

View here

5 important things to remember for earnouts when selling your business

Author: Craig Sanford, Director

When it comes time to sell your business, a large part of the negotiations will often be around the terms of an "earnout" - that is, the right of the seller to receive additional compensation in the future if the business achieves certain financial goals after completion of the sale (e.g. earnings over a specified threshold level). Based on my experience over the last 26 years buying and selling businesses, here are a few tips for sellers in relation to earnouts.

Acquisition of Allstates Vehicle Logistics

Sierra Legal would like to congratulate the purchaser of Allstates Vehicle Logistics Pty Ltd (also known as "Spiral Logistics"), on its recent acquisition of the company.  Allstates is a leading Australian logistics company for specialised freight, and focuses on providing transport services to the steel industry in Victoria, New South Wales and Queensland.  Sierra Legal advised the purchaser on legal aspects of the acquisition, including due diligence, negotiation of the legal documents and completing the transaction.  We look forward to following the progress of Allstates under its new management team as it drives forward with some exciting plans to enhance its service offering and further develop and grow the business throughout Australia.